10/5/2022

Oct 05, 2022


10/5/2022
The market struggled to find itself today.  We started the overnight session trading 1-2 steady higher in corn and 1-2 steady lower in soybeans, selling accelerated into the morning break.  Corn made an attempt to trade higher around the midday point but was sold back to unchanged before finding some late session buying to finish 1-2 cents up on the day.  Soybeans tried to rally back from some sharply lower trade at the 8:30 open but were unable to sustain any momentum and were held down to double-digit losses.  Overall, the markets were held in check today with the dollar index back in the green.  Weekly ethanol numbers saw a solid increase in production alongside an increase of new crop corn supply.  Production was up 34,000 bpd to 889,000 barrels total, stocks declined 1.01 million barrels to 21.69 million.  Crude oil easily found a bid today following a headline the OPEC+ plans to lower their daily production output by as much as two million barrels per day.  This puts the White House in an interesting position in terms of energy policy one month out from mid-term elections.  This energy policy that WILL have some sort of effect on grain demand (ethanol and soybean oil).

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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.
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...