Grain > Commentary > 12-14-2021

12/14/2021

Dec 14, 2021

12/14/2021
Corn and soybeans come back strong off of their overnight lows for a textbook "turnaround Tuesday."  Today's bounce back puts us basically unchanged on the week after 2 days of trade.  Fundamentally, there hasn’t been any changes or news.  The USDA 8 a.m. sales announcements have gone quiet after putting together a good run for the first half of December.  China is hosting the winter Olympics in two months and it may be a while until we see them purchase to ramp up any type of imports.  Portions of Chinese industry are cut back/shut down (ex: bean processors), need the country to look good on T.V.  Overall, there is not much of an explanation for the price action we've seen this week.  Figures for the November NOPA crush will be released tomorrow, with trade estimates ranging from 178-184 million bushels crushed for an average of 181.64 million.  This will at least give us some sort of information for trade to chew on.

Trade is trying to create excitement out of some short-term dryness in Brazil, likely from a lack of any other news.brazil.jpg

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...