12/20/2022

Dec 20, 2022


12/20/2022
Corn and soybeans spent Tuesday reclaiming Monday's losses. Soybeans traded steady around 5 higher and held its gains going into the coffee break where a flood of buying came in at the 8:30 open. Corn was a follower. There were no official reports or sale announcements, so a very quiet day that really had no big stories, just light volume trading technical signs to a firmly higher finish. Circling back to yesterday's better-than-expected weekly export inspections report, corn shipments to date fall short of the pace needed to hit the USDA target by 186 million bushels versus 171 million bushels the previous week. Soybean inspection pace continues to slowly close the deficit to the USDA target, now short by 33 million bushels.

Corn and soybeans continue to coil/tighten within range. The tighter this pattern becomes, the bigger the breakout will be. We hit the top side of our wedge today in soybeans and trade will likely look at profit taking off of fresh length tomorrow.
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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.
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.  
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...