January 2021 Crop Market Update for Corn, Soybeans, Rice, and Cotton
By Michael Deliberto, Ph.D.
LSU AgCenter
The market responded in a bullish way to the January WASDE report for feed grains and oilseeds. Export sales stemming from increased Chinese demand for U.S. agricultural products (e.g. corn and soybeans) is a key factor behind the gains. Export use data coupled with a USDA-revised 2020 crop production totals proved to be a catalyst for a tightening of ending stock levels. The rice and cotton markets firmed, with the season average farm price posting a notable gain month-over-month.