7/29/2024

Jul 29, 2024


Just a simple change towards "non-threatening" in the weather forecasts has sent the market into sell-off mode again.  Corn and soybeans gapped lower on the Sunday night open and spent the remainder of the session recovering.  Soybeans could have fared much worse, trading 30 lower before climbing out of the gutter to close 9 lower.  Corn was negative until noon and managed a modest 2 cent gain on the day.  Weekly export inspections were in line with expectations at 1.058 mln tonnes of corn and 403k tonnes of soybeans shipped last week.  Corn narrows its deficit to 39 million bushels behind target pace and soybeans maintain their 23-million-bushel surplus.  There were no USDA sale announcements this morning.

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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...