Wednesday, January 27, 2021 3:17PM CST
Agricultural shippers that rely on a steady supply of empty cargo containers have seen orders for hundreds of millions of dollars delayed or outright canceled by shippers. Because of demand for Chinese products, shippers would rather deliver empty containers back to China where they are quickly loaded with more profitable cargo to send back to the U.S.
Wednesday, January 27, 2021 3:12PM CST
ADM sees higher Chinese imports of corn and ethanol throughout 2021 as company executives pointed to some of the demand drivers that could help sustain the corn and soybean sectors. They also expect U.S. farmers will bring more acres into production this spring.
March corn is up 6 1/2 cents per bushel, March soybeans are up 9 3/4 cents, and March KC wheat is down 9 cents.
Despite the softness in futures trade midweek, traders appear to be focusing on continued strong market fundamentals. This is expected to add further support in the cash cattle trade, regaining recent market losses.