Corn Pulls Back on Veterans Day

Nov 13, 2024

By Austin Schroeder

Following the strength from last week, the corn market felt pressure from outside and a weaker wheat market, as contracts were 1 to 3 ½ cents lower. The national average Cash Corn price from cmdtyView was down 1/4 cent at $4.04 1/4 per bu.

The Outside factors were in play today, with crude oil down $2.24/barrel and the US dollar index up 515 points. Weakness in wheat also played spill over pressure.

Export Inspections and Crop Progress data will be delayed to Tuesday due to Veterans Day to start the week.

Brazil’s first corn crop was pegged at 72% planted as of last Thursday according to AgRural.

Dec 24 Corn closed at $4.30, down 1 cent,

Nearby Cash was $4.04 1/4, down 1/4 cent,

Mar 25 Corn closed at $4.42 3/4, down 1 1/2 cents,

May 25 Corn closed at $4.49 3/4, down 1 3/4 cents,

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Video: Why Invest in Canada’s Seed Future? | On The Brink: Episode 3

Darcy Unger just invested millions to build a brand-new seed plant on his farm in Stonewall, Manitoba so when it’s time for his sons to take over, they have the tools they need to succeed.

Right now, 95% of the genetics they’ll be growing come from Canadian plant breeders.

That number matters.

When fusarium hit Western Canada in the late 90s, it was Canadian breeders who responded, because they understood Canadian conditions. That ability to react quickly to what’s happening on Canadian farms is exactly what’s at risk when breeding programs lose funding.

For farmers like Darcy, who have made generational investments based on the assumption that better genetics will keep coming, the stakes are direct and personal.

We’re on the brink of decisions that will shape our agricultural future for not only our generation, but also the ones to come.

What direction will we choose?

On The Brink is a year-long video series traveling across Canada to meet the researchers, breeders, farmers, seed companies, and policymakers shaping the future of Canadian plant breeding. Each week, a new story. Each story, a piece of the bigger picture.

Episode 3 is above. Follow Seed World Canada to catch every episode, and tell us: Do you think the next generation will have the tools they need to success when they takeover? How is the future going to look?