7/14/2023

Jul 14, 2023


7/14/2023
Corn goes into the weekend with a firm 13 cent higher finish on Friday.  Soybeans worked a 30-cent range throughout the session and provided plenty of opportunity on both sides of unchanged before settling 1-9 higher.  Trade was not afraid to buy going into the weekend despite weather forecasts adding precipitation into next week.  A quick look at the corn charts shows that we have a nice setup and some room for a decent rally if these rains don't materialize.  Soybeans also have potential to break out higher with the charts forming a potential bull pennant going back to the May low.  It will be important to take notes on how November soybeans want to act inside of the 1390-1400 area if we are able to get back to those price levels.  Catching up on sales when hovering near 1400 futures isn't a terrible idea.  New crop corn in the $5.00-5.10 range is a realistic target, as well.

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...