8/5/2024

Aug 05, 2024


On a day where almost every other market space and commodity was red, corn and soybeans were the darlings of the day. Were they large gains? No, but with the macro effect leaning largely negative following some ruthless overnight trade, corn improved 3-4 cents and soybeans found a double-digit bounce. Japan's stock exchange was halted almost immediately on their market open and South Korea followed suit shortly after. There is a huge unwind happening between the Japanese Yen and Japan's low interest rates and the U.S. dollar. The U.S. economy has been overheated for quite a while and a correction is necessary. Export inspections for the week were solid for corn at 1.213 mln tonnes shipped. Soybeans were reported at 261k tonnes. The big downturn in corn prices has made the U.S. competitive globally. Inspection pace for corn is now short 31 million bushels compared to 39 million bushels short last week. Soybean shipment pace continues to slowly lose momentum and is now 16 million bushels ahead of the pace needed versus 23 million bushels ahead the previous week.

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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...