Grain > Commentary > 8-25-2021

8/25/2021

Aug 25, 2021

8/25/2021
After a weak overnight session, corn and soybeans turned higher after the morning break.  Managed money has, once again, started adding back to their net long position after liquidating their length down to a relatively small total two weeks ago.  Export business seemed to be a little quieter today and the USDA did not announce any flash sales this morning.  US soybeans are currently the cheapest globally so expect to see soybean export business perk up.  The 2022 crop futures were the big gainers today and strength in today's trade is credited to the forecasted return of a La Nina weather pattern over the next six months.  This expected to challenge the next round of corn and soybean crops in South America where there are already dry.  River levels in Argentina are currently low and this creates the real possibility that the country may not be able to barge next year's crop down river for export.  Ethanol numbers continue to slide with output off 40,000 barrels/day, down to 933,000 bpd.  Ethanol stocks were also down 335,000 barrels to 21.22 million. 

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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...