10/27/2022

Oct 27, 2022


10/27/2022
Another day of sideways trade comes to an end. November soybeans traded 13 cents higher shortly after 8:30 this morning but were unable to hold the move higher. The weekly export sales appeared to show a solid 1.026 mln tonnes of beans sold last week but more than half of that number was previous business switched from unknown destinations. Corn sales disappointed, coming in below expectations at 264k tonnes sold. Doing a year-to-year comparison, 2022/23 corn sales are currently 47% behind and soybean sales run 5% ahead of last year at this time. The savior for the corn market has been domestic demand. Ethanol and livestock appear to be doing "okay" even with the current high price for corn and seek further ownership.

Starting to see some attention being paid to the drought monitor as harvest winds down. The current state is supportive to the market as we go into winter.
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Read More News

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. 
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.