Grain > Commentary > 8-1-2022

8/1/2022

Aug 01, 2022

8/1/2022
Major pressure on the market from multiple angles geared trade towards risk-off early into the overnight session.  Updated weather models showed relief from previously forecasted high temps along with increased probabilities of rain across the growing regions.  The Oklahoma/Texas panhandles and Southwestern Kansas also received good amounts of much needed moisture over the weekend.  Crude oil traded $5-6/barrel lower early this morning but did recover slightly.  A vessel loaded with corn departed from Ukraine for the first time since late February and it is reported there are an additional 16 vessels loaded and ready to sail.  A lot of negativities to start the week and a prime set up for a turnaround Tuesday after corn and soybeans both finished well off of their lows on the day and trade is expecting another decline in crop conditions in this week's progress report.  Weekly export inspections were decent for corn and soybeans with 857k tonnes of corn and 555k tonnes of soybeans inspected for shipment.  With one month to go, corn exceeds the pace needed to hit the USDA export target by 74 million bushels and soybean pace falls short by 49 million bushels.  Early crop tours are starting this week and we will keep you up to date with those results.
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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...