10/16/2023

Oct 16, 2023


Relatively unexciting ranges of 7 cents in corn and 10 cents in soybeans to start the week.  Highs were set on the open of overnight trade.  Weekly export inspections were a miss to the low-side for corn with 435k tonnes inspected.  Soybeans outperformed expectations in a big way with 2.012 mln tonnes shipped versus the estimate 1.3 mln tonnes.  Historical data shows that this volume would fit within the norm for the week.  Corn and soybean shipping pace for the marketing year is close to target for both.  The USDA confirmed two export sales for delivery in the 2023/24 marketing year with 200,000 tonnes of corn to Mexico and 183,000 tonnes of soymeal to the Phillipines.  NOPA crush for September totaled 165.456 mln bushels vs the estimated 161.7 mln bushels.  Soyoil stocks totaled 1.108 bln lbs vs 1.208 bln lbs estimated.  

Read More News

Aug 12, 2025
The USDA report today didn't treat the corn market very well.  Both corn acres and yield were higher the result has corn carryout over 2.1 billion bushels.  Corn yield was pegged at 188.8 bpa vs an estimate of 184.29 bpa.  How high is 188.8?  Well…the previous record was 179.3.  Planted corn acres were put at 97.3 million.  Total corn production is estimated at 16.742 billion bushels, which is 763 million more than the report estimates.
May 12, 2025
News broke Sunday that the USA and China have agreed to ease tensions and lower tariffs.  The US is lowering tariffs on Chinese goods from 145% to 30%.  China is lowering their import tariffs from 125% to 10%.  Talks will resume in the coming weeks.  This news had stocks, grains and oil higher overnight. Then of course we had a USDA grain report come out at 11:00 this morning.  That was also a bit friendly.
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.