12/10/2021

Dec 10, 2021


12/10/2021
Some good upwards momentum after the coffee break was stemmed off only 15 minutes into the session.  Highs for the day were set early with trade seemingly uninterested in doing much of anything.  Corn traded 2 cents and soybeans 6 cents for the large majority of the slow day.  This could be the theme for trade for the remainder of the year unless we get some type of suprise news before the final production report in January.  Processors and end-users have backed off their cash bids over the past week and appear to be covered into the new year.  Corn is hanging around the top end of a six-month trading range, hitting my most recent futures target for pricing some grain.  Soy oil and meal are taking turns supporting soybeans and I am leaving my target in place in the 1280-1290 area on the January 22 contract to price some beans out of the bin or on storage in town.  We traded within 4 cents of the 1280 mark today and with a big crop likely to be harvested in Brazil over the next couple months, best to not give up quarters while trying to grab nickels.  Weekly grain closes: cash corn 6 cents higher, new crop corn 1 lower; cash soybeans unchanged on the week and new crop soybeans up 14 cents.

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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...