4/5/2021

Apr 05, 2021


4/5/2021
Corn mixed and beans higher following a weekend of beautiful weather that we are not accustomed to so early in April.  Fund and spec money was busy today repositioning against the old crop/new crop price spread which put some pressure on our old crop corn futures and supported new crop values.  The December corn contract set new contract highs early in the day session which did trigger some new crop cash sales from the farmer.  This morning, the USDA announced the sale of 130k tonnes (4.8 mln bu) of soft red wheat to unknown destination for the 2021/22 marketing year.  The marketing year for wheat begins June 1.  We are less than a week away from the federal crop insurance corn planting date for our area and today is the first very active day for wheat seeding in the territory.  We are forecasted for about 2" of much-needed rain between now and the weekend.  Weather currently looks favorable for field work Saturday and beyond but the moisture accumulation prior may be enough to keep the iron in the yard for a day or two past April 11.  Not much for fresh news today but we will get an updated WASDE report from the USDA on Friday.
 

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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...