Grain > Commentary > 3-10-2023

3/10/2023

Mar 10, 2023

3/10/2023
After dipping 3-5 cents lower just ahead of the coffee break, corn managed to keep its head above water (and the $6.00 level on the board) on Friday to end the week.  Soybeans finished 3-5 lower but firmly above their low marks on the day.  The market was ready to buy May soybeans when it briefly traded below the $15 level.  U.S. export sales netted a marketing year high for corn last week, exceeding market expectations for a total 1.412 mln tonnes.  On the opposite end of the spectrum was soybeans, which printed a marketing year low with 23k tonne net cancellation, led by Pakistan cancelling 2 cargoes.  After trading its highest levels in over 14 years in 2022, wheat continues on its path downward, spring wheat contracts are trading around 60% of their value from 10 months ago.  Also keeping the market defensive and on edge is Wall Street.  As of about 1:20pm, the DOW was down 1,500 points and the NASDAQ 500 points lower on the week.

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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...