Grain > Commentary > 7-19-2021

7/19/2021

Jul 19, 2021

7/19/2021
After a strong showing overnight, corn and soybeans traded back and forth, spending a majority of the day session in the red with corn making a late push to finish fractionally higher on the day.  There was large outside market pressure today with the Dow and NASDAQ both taking big hits.  As of about 1:20pm today, the Dow was down 870 points and the NASDAQ was 155.50 points lower.  After matching the 2018 high a couple weeks ago, crude oil continues to retreat and hemorrhaged value today with the front month down about 5.35/barrel.  OPEC+ recently announced that they would be increasing production.  Weekly export inspections for corn, soybeans, and wheat were all within trade range estimates with 1.001 mln tonnes of corn, 144k tonnes of soybeans, and 491k tonnes of wheat inspected for export.  Corn and soybean condition on this week's crop progress report are both expected to increase by 1 point in the good/excellent category to 66% for corn and 60% for soybeans.  Another 1-point decline in the spring wheat condition is expected, down 15% g/e. 

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3/31/2025
Mar 31, 2025
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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
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