12/7/2020

Dec 07, 2020


12/7/2020
Overnight markets had corn down 5 and beans down 10 on rain in South America, but the forecast going forward is not trend changing.  Weekly US soybean exports were near 84 mil bu versus 89 last week and 51 last year. Season to date exports are near 1,081 mil bu vs 638 last year.  About the time the export inspections were released the bean market battled and eventually got into green figures.  I still don't think the bean story is over, but December still doesn't look like a month where we will have to make new highs.  It feels like we are range bound for the time being.  Weekly US corn exports were near 29 mil bu versus 19 last year. Season to date exports are near 434 mil bu vs 257 last year.  We are just waiting for more new business to show up that shows China is still in need of US corn.  We do have a USDA report this Thursday, so keep your eye peeled for that.  I think corn and bean carryouts can continue to tighten, but I am not convinced that it will happen on this report.  As I said we might need another round of business before the USDA is willing to take that next step.
 

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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...