9/23/2022

Sep 23, 2022


9/23/2022
Outside markets weighed heavy on grains today.  The DOW traded near 800 points lower, crude oil traded over $5/bbl lower, breaking below some long-term support, and the dollar index continued a historic rally, trading 1.6 points higher around 1:00 this afternoon.  Most market spaces suffered steep losses on the day.  Corn and soybeans struggled to trade at unchanged on the overnight open and were sold-off hard at 8:30 this morning following the coffee break.  Trade made an attempt to bounce off of this morning's lows but recovery was limited and trade faded after the mid-day point into the weekend.  December corn lost 1 cent and November soybeans were down 23 on the week.  While we do not like seeing markets hit this hard in a single day, it is what is needed to help generate fresh demand for U.S. grains.  Further correction is likely needed as we are still at a premium to South America with the U.S. standing on the shore of a fresh new crop supply.  There were no official USDA reports or export sales announcements today and news was limited within the grains.  Early soybean harvest has finally made its way into our area with some new crop soybeans already being delivered.

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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...