Grain > Commentary > 4-7-2021

4/7/2021

Apr 07, 2021

4/7/2021
Corn was stronger as the calendar spreads signal a continuance of good domestic demand.  The weekly ethanol report showed a slight increase in production of 10,000 bbl/day along with inventory decreasing by 500k barrels.  After a couple days of firmly higher trade, soybeans and soybean oil took a breather today after the monthly exports report showed that soybean export pace had fallen back to the yearly averages.  With good export demand in corn and soybeans, along with crush demand in beans, the consensus in the market is that we are expecting to see a friendly report on Friday.  New reports of confirmed outbreaks of African Swine Fever in China have become more consistent lately, with the newest headline being a dead pig washed ashore in Taiwan testing positive for ASF.  China has a history of downplaying crisis inside its borders and it would be interesting to know how the pig ended up in the sea.  I'm sure there are no shortage of theories on that.  Big picture: everyone is leaning extremely bullish but commodity markets are not immune to events on the geo-political landscape.  Make sure you have a strategy in place to protect yourself.
 

Read More News

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...