1/11/2024

Jan 11, 2024


Thursday's session was a long, slow grind and it appeared most had opted to sit on the sidelines one day ahead of the USDA report.  The price action we did see was some basic positioning trade.  For the first time since December 19, the USDA made a flash sale announcement this morning.  This confirmed sale was for 175,000 tonnes of corn for delivery to Mexico during the 2023/24 marketing year.  The only other item of note today was the weekly net export sales report and it didn't really offer us much.  Corn sales were on the low-end of expectations with 488k tonnes sold and soybeans sales were a miss at 280k tonnes.  Trade does not expect to see much of a shakeup in numbers for tomorrow's report and pre-report estimates are mostly priced in so if we do see a drop in U.S. or South American crop production from the USDA, it may not ignite the rally you expect to see. 

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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...
Aug 23, 2024
Corn trade was flat at 2 lower throughout a majority of the day to take us back to where we started the week.  Soybeans were 9-11 higher in what looks to be a dead-cat bounce in the middle of nowhere on the charts....