Grain > Commentary > 7-13-2021

7/13/2021

Jul 13, 2021

7/13/2021
Corn and soybeans traded mixed overnight and firmly higher during the day session, mostly supported by the wheat board where buying interest has been abundant due to the current condition of this year's spring wheat crop.  Crop progress ratings for spring wheat maintained the 16% good/excellent score from the week prior but the poor/very poor category grew by 5 points to 55%.  Corn condition improved slightly from last week, increasing the good/excellent by 1% from last week to 65%.  South Dakota showed the biggest improvement in their corn crop in the previous week with a 7-point jump in the good/excellent category.  Soybeans maintained their good/excellent rating of 59% from the week prior but Iowa's soybeans improved nicely with a 6% increase of beans seen good/excellent.  These crop ratings allowed trade to shrug off yesterday's neutral/negative WASDE report after it was expecting to see bigger improvements in the corn and soybean condition.  Locally, the prospective rain totals for tomorrow have increased for our area since yesterday!

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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...