9/10/2020

Sep 10, 2020


9/10/2020
Another export sale of 195,00 MT of soybeans to China for 2020/21 was announced this morning.  Demand just keeps coming, now we just need to make sure we can execute on all these sales.  The BNSF has a heavy task ahead of them in a year that has been nothing but struggles.  Beans posted their sixth consecutive day of a higher highs and higher lows, which is impressive to say the least heading into a report.  Beans did however close lower today for the first time in the past 13 sessions, even though it was only down a penny.  9.8275 November futures remains the target.  Like I said yesterday, tomorrow could be a very dangerous risk/reward report for this soybean market.  Be careful and have orders working where you feel comfortable.  Corn made a new high for the move as we traded and closed over the 3.63 Dec level for the first time on this move.  That opens the door to 3.75 - 3.80 Dec.  Demand remains a bullish story with corn as well.  An article put out last night said China has currently bought 10 mmt thus far and may need up to 30 mmt.  That is obviously not all US corn, but that’s a big number.  If half of that is US it would still be a friendly scenario.  Tomorrow at 11:00 AM we will have the answers, so strap in those seatbelts. 
 

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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...