6/16/2022

Jun 16, 2022


6/16/2022
There is a lot of negativity in the financial markets at the moment as the "recession" is getting thrown around a lot!  Is that money leaving the financial markets and flowing into commodities?  It sure feels that way, which is normal when fear hits the markets.  As I write this the DOW is down 900 points and breaking below 30,000.  The S&P 500 and Nasdaq Composite are both in bear market territory, down roughly 23% and 34% from their all-time highs in January and November, respectively. The Dow, meanwhile, is about 19% below its Jan. 5 all-time intraday high.”   Crude oil is up over 2 bucks today after trading down over 2 bucks earlier in the day.  Things are getting ugly and seem to be getting worse quickly!  The good news today is cash corn is $8 once again.  Selling picked up dramatically today in old crop corn today, but new crop sales were rather light.  Some people want to trade hot and dry weather already, which typically is a bad set up after a wet and cold start to the season.  Basis remains strong in corn as the ethanol demand continues to try and lock up bushels until we get to new crop.  Those of you with basis on the July futures have until the 29th of June to get them priced or rolled.  Also just a reminder there are no markets on Monday as Juneteenth is the new holiday, so we will not buy grain after the close tomorrow. 

Read More News

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...