2/3/2021

Feb 03, 2021


2/3/2021
We had another overnight session that offered mostly lower trade.  Spec money was very active in and out of the beans both buying and selling and turned into only buying with rumors that China may be cancelling their February Brazil bean shipments in favor of US cargoes sparking buying interest.  Buying interest in beans offered some spill over support into the corn and wheat boards.  Most likely, US corn will be the cheapest feed grain into the late spring but the surge in corn prices has resulted in wheat being penciled into some feed rations.  Current usage rates may have feed corn buyers concerned more about the availability of corn rather than price.  Ethanol production data for the week ending January 22 was released today showing a total of 6.55 million barrels.  This was a 21,000-barrel increase from the week prior but is 13.4% down from the same time last year.  Reports out of South America continue to offer a mix of bearish and bullish features.  The safe play here is to assume their rains are beneficial for their crop but there are reports of some quality and storage issues due to high moisture.  There was not a daily export sale announcement from the USDA today but there are whispers of more corn business to China last week that went unreported.  Trade will be looking at the weekly export sales report tomorrow for confirmation.

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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...