12/9/2020

Dec 09, 2020


12/9/2020
A solid rebound in the corn and soybean trade overnight carried over into the day session.  The renewed buying interest was sparked by expectations that the USDA will slimly cut the global carryover of the large grains.  The sharper gains on the soybean board were also assisted by rumors that some South American soybean exports were washed out.  We had a sale announcement this morning of 257,071 tonnes (10.1 mln bu) of corn to Mexico.  Mexico has been a fairly steady buyer of corn as of late and it still remains to be seen when China will re-enter the market with a purchase on either the corn or soybean side.  While most of the attention in our area has been focused solely on old crop marketing, Brazilian farmers have been busy selling soybeans for the 2021 and 2022 crops.  It is currently estimated that 15% of the 2022 Brazilian soybean crop is already priced.  I know an inverse market isn't the most attractive to sell into but, assuming we continue to follow the global trend of adding production area and increased yields, the current new crop prices for 2021 need a serious comparison to an operation's bottom line.  Reminder, the December WASDE report is due out tomorrow at 11 a.m.

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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...
Aug 23, 2024
Corn trade was flat at 2 lower throughout a majority of the day to take us back to where we started the week.  Soybeans were 9-11 higher in what looks to be a dead-cat bounce in the middle of nowhere on the charts....