Grain > Commentary > 1-31-2024

1/31/2024

Jan 31, 2024

The market gave back some of Tuesday's gains but held relatively well.  We didn't get the follow-through in Soybeans to push us towards the 20-day moving average but wasn't a complete melt down, either.  Some late session buying was able to improve soybeans to finish 3-5 cents higher after trading out to 12 lower.  Technically, the past two sessions have a really nice set up on the charts if we want to see what the top-side of trading range could be.  Corn recovered nicely after trading 4 cents down to finish close to unchanged.  The weekly ethanol report showed some favorable numbers.  Production increased by 173k barrels/day to 991k bpd which would be a return to normal production after several plants cut production due to weather.  With that increase in productions, ethanol stocks decreased week-to-week by 1.5 million barrels, down to 24.3 mln bbls.

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3/31/2025
Mar 31, 2025
USDA reported corn planting acres at 95.326 million acres of corn, which would be up a little more than 5% from 2024's final number and the second highest March figure of the last ten years behind only 2020's estimate of 96.99 mil acres.  US corn stocks as of March 1st were seen at 81.51 billion bushels, which was exactly what the trade had expected and was down just over 2% from March 1 of 2024.  USDA said farmers intended to plant 83.495 million acres of soybeans, which would be down about 4% from last year and was just a hair smaller than what the trade was looking for.  March 1 soybean stocks were pegged at 1.91 billion bu's, which again was nearly exactly as the trade had expected, and was up 3.5% compared to March 1, 2024.
3/11/2025
Mar 11, 2025
The monthly USDA WASDE report was today and it was about as boring as it can get.  The USDA took the month off leaving corn and beans carryouts unchanged.  Corn remains at 1.540 billion bushels and beans at 380 million bushels.  World ending stocks were slightly lowered on both corn and beans.  World corn was pegged at 288.94 million tonnes vs 290.3 million tonnes previously.  World beans were pegged at 121.4 million tonnes vs 124.3 million tonnes previously.  All of the South American crop production estimates were also left unchanged.  
8/30/2024
Aug 30, 2024
Corn picks up 10 cents and soybeans improve just over 25 cents on the week to go into the holiday weekend on a positive note.  Soybean export sales have picked up the pace in a big way.  At the end of last week, sales...