Grain > Commentary > 9-14-2020

9/14/2020

Sep 14, 2020

9/14/2020
Beans made new high overnight at 10.0875 futures, but were unable to match those highs in the day session.  We had another great round of sale announcements this morning.  350,000 metric tons of corn for delivery to China, 106,000 metric tons of corn for delivery to Japan, 129,000 metric tons of soybeans for delivery to China, and 318,000 metric tons of soybeans for delivery to unknown.  That is quite the list again and we will take it!  Managed funds are now net long 55,000 corn and 199,000 soybean contracts.  Weekly export sales were great once again for corn and beans, which we already knew.  Debate continues about if China needs these sales or adding to reserve in case US and China relations sour.  Crop ratings were out at 3:00 with corn down 1% at 60% good to excellent.  Beans were down 2% at 63% good to excellent.  The plant is supposed to be dying now remember, just saying.  It still feels like the right thing to do is scale up selling, because one never knows when we top out and I sure don’t want to miss out on this opportunity with soybeans.  This is a dream type level only a month ago, now it is reality.   
 

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...