1/25/2024

Jan 25, 2024


Soybeans were sharply lower today, finishing 10-17 cents in the red after a quick test and fail at the 20-day moving average. Surprisingly, corn held its ground and seemed unaffected by the negative trade in soybeans, finding a bid at 5 lower and improved to close Thursday at 1 cent lower. A combination of the fail at the 20-day, a poor showing on the weekly export sales report, and Brazil harvest were cited as the reason for today's weakness in soybeans. Corn sales totaled 955k tonnes which was near the middle of its expected range. Soybean sales missed low, reported at 561k tonnes. Trade had expected sales to total in the range of 700k-1.2 mln tonnes. Corn sales pace to date shows corn sales exceeding the USDA target by 46 million bushels, down from 58 million bushels the previous week. Soybean pace continues to increase its deficit, now 17 million bushels behind the USDA target versus 12 million bushels last week.

Some nice improvement in moisture conditions over the past month.

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Sep 12, 2025
USDA report day.  Corn and beans were trading higher pre-report on thoughts of a reduction to yields.  Well....we got what we were thinking but the USDA decided to throw a twist into the mix.  The 25/26 corn yield decreased slightly less than expected by 2.1 bu to 186.7 bpa, but they gave us the largest planted acreage shift on this report in at least the last 20 years (+1.4 mil acres) spurred an increase in production to 16,814 mbu.  25/26 ending stocks were slightly lowered by 7 mbu to 2,110 mbu. 
Aug 21, 2025
Today the market ran higher on rumors for positive SRE announcements coming soon.  Bean oil was up over $2.  Beans finished the day up 20 cents at 10.56 Nov futures.  There is a chance we could make a run at the 10.74 Nov highs from back in June.  If we get there, I am a seller.  Bean basis remains in the garbage, so a run higher in futures doesn't help that either.  We still don't have a trade deal, so I think any rally is short lived at this time. 
Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off.