Grain > Commentary > 11-14-2022

11/14/2022

Nov 14, 2022

11/14/2022
Corn and soybeans close lower to start the week.  We saw some brief trade higher mid-morning before getting stuck in the red on the day.  The weekly export inspections did little to help the market out with soybeans under-performing at 1.858 mln tonnes shipped.  Corn impressed the most at 484k tonnes but was still only average for the week.  December corn traded 5 cents either direction before finishing unchanged on the day.  January soybeans ran into overhead trendline resistance for the 6th time in the past 7 sessions.  Corn spreads tightened by a good amount today.  If you have basis fixed deliveries or contracts in place, it's a good time to pay close attention as we could have potential opportunities to roll these contracts ahead close to even money in the near future.  With harvest pretty well wrapped up around the country, end user cash bids have strengthened significantly in an effort to keep grain moving.
 

Read More News

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...