8/26/2022

Aug 26, 2022


8/26/2022
A quick rebound after yesterday's weak close.  Grains saw their session lows upon the opening of overnight trade and had worked their way towards 7 higher on corn and 17 higher on soybeans before the coffee break.  The 8:30 am opening bell saw another round of sharp sell-off but prices recovered beyond their previous levels and were firmly trading double-digits higher, including some 30 higher trade in soybeans.  With little else going on, trade was about positioning ahead of ProFarmer's release of their crop tour final results this afternoon.  Their data from yesterday's surveying revealed Minnesota as the garden state this year and Iowa hanging on to a respectable average crop.  The USDA made another export sale announcement this morning of 146,000 tonnes of soybeans for delivery to unknown during the 2022/23 marketing year.  That's a total of 773,000 tonnes (about 28.3 million bushels) of soybeans announced this week with all but today's sale assigned to China.  It's always exciting for the market to see China on export sales but corn sales need to start picking their pace.  Today's action in grains may have also been slightly supported by money leaving Wall Street following Fed Chairman Jerome Powell's speech today.  Originally slated to last up to one half hour, Powell only needed 8 minutes to warn what most have been expecting for over a year now: full economic recession.

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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...