Jan 12, 2023
The big report dropped at 11 a.m. and brought some fireworks with it. USDA raised corn yield by one full bushel and lowered corn exports by 150 million bushels. Surprising trade was the cut to harvested corn acres, which was lowered by 1.6 million acres. The numbers trickled down the balance sheet to a small net change lower to corn ending stocks. The soybean side of the report was expected to be mostly white noise but the USDA surprised the market with cuts of 0.7 bu/ac in yield and 0.3 mln harvested acres. The weekly export sales held the market in check prior to 11 a.m. with another poor showing. Corn sales were a miss at 256k tonnes and soybeans were mid-range at 717k tonnes. Corn sales were short of the pace needed to meet the USDA's target by 342 million bushels and soybean sales matched the pace needed to meet their target using the export forecasts prior to 11 a.m.
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Feb 22, 2024
A round of fresh lows and some give-up selling on the farmer side were all we had to highlight Thursday's session. The USDA confirmed the sale of 126,000 tonnes of sorghum for delivery to China during the 2023/24...
Feb 20, 2024
Soybeans gapped higher on the Sunday night open and a portion of those gaps remained open on the charts at the close on Monday. Price action in corn was interesting to those who paid attention and it was a good little...
Feb 16, 2024
Soybeans traded solely higher and lead the way into the weekend with some nice bounces. Corn was trading up to 4 higher early on but ended Friday with March and May 24 contracts slightly lower and 1-2 cents higher...