9/26/2022

Sep 26, 2022


9/26/2022
Trade was a rinse and repeat from Friday. Once again, the dollar index extended its rally in sharply higher trade, sending commodities and equities into defense mode as a result. Adding to the down pressure in grains was a very lack-luster weekly export inspections report. Corn and soybeans both missed their targets to the low side with 459k tonnes of corn and 258k tonnes of soybeans shipped last week. We are still in the first month of the new marketing year but the strength of the dollar is definitely having a negative effect on export demand. To include a positive twist in this wildly bearish trade, crude oil has nearly given up all gains made in 2022, trading about $1/bbl above the opening price on January 3rd. We still have the big dark cloud over the market of possible global economic recession and it seems to becoming more of a "when" not "if" type of subject. U.S. grains are still at a premium to South American corn and soybeans on a FOB basis, the current difference is roughly $1/bushel for both. So far, the early harvest soybean yields around the country have been "better than expected." We expect there to be a significant amount of soybean harvest activity in our immediate area towards the end of the week. Scale hours may vary by location so please be in touch with your specific Glacial Plains location for updated hours.

The December corn chart is giving the look of wanting to roll-over to the downside.
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Read More News

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...