6/21/2021

Jun 21, 2021


6/21/2021
The volatility continues and it's only just begun.  We started the overnight markets down 15-20 cents due to weekend rainfall.  The eastern corn belt saw much better rains than in the west.  Minnesota, the Dakota's, and Northern Iowa were the big disappointments.  Iowa has another chance towards the end of the week, but the Dakota's and Minnesota will remain dry.  We saw a couple good bean sale announcements at 8 am today.  336,000 metric ton to China and 120,000 metric ton to Unknown.  That sale was rumored on Friday, so it was not a surprise.  The market however liked to see it confirmed today!  Beans rallied back to finish up 15 on old crop and 6 on new crop bouncing over 40 cents off their lows for the day.  Corn finished the day down 6 on old crop and 9 on new crop, still in red figures but nearly 20 cents off their lows of the day.  These big daily swings are going to continue as this crop is far from made and there remains a number of unknowns.  Weekends just add to the volatility in these situations.     
 

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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...