Grain > Commentary > 8-18-2021

8/18/2021

Aug 18, 2021

8/18/2021
The markets were mostly quiet throughout the overnight and day sessions.  Corn and soybeans both traded on either side of unchanged with corn finishing 1-3 higher and soybeans 4-10 lower.  The USDA confirmed another private export sale of 131,000 tonnes of soybeans to China for the 2021/2022 marketing year.  This makes the 10th consecutive business day with a sale announcement.  ProFarmer tour found some good crops in Nebraska and Indiana yesterday and, overall, is finding some healthy crops in Western Iowa and Illinois today.  According to those on the crop tour, Indiana's corn crop has potential to be better than 2020's (state record yield) and the soybeans continue improve as they move west from Ohio into Iowa.  Weekly ethanol numbers were off, again, with output down 13,000 bpd from the previous week to 973,000 bpd.  Ethanol stocks were down 718,000 bbls to 21.56 million bbls.  The pace for ethanol corn usage for the year is close to the USDA's forecasted 5.05 billion bushels.  The forecasted rain for our area at the end of this week has increased in chance and amount.

Read More News

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...