2/1/2024

Feb 01, 2024


After two days of higher trade that looked like the start of a rally, the market could not get off the ground on Thursday.  Corn managed to stay above the prior day's low, finishing just 1 lower after gaining a nickel the previous session.  Soybeans were sharply lower, closing 13-19 cents lower and it appears that the March contract will, once again, look to test what support there is at the $12 level.  We did have the USDA confirm a sale at 8 a.m. this morning and it was for 206,834 tonnes of soybeans for delivery to Mexico during the 2023/24 marketing year.  In the weekly export sales report, corn came in near the high end of expectations with 1.207 mln tonnes sold last week.  The PNW market has been active the past two weeks so it would not be a surprise to see another solid number for corn on this report next week.  Soybean sales were a marketing year low with only 165k tonnes sold.  A bright spot on the report were sales for soybean meal which totaled 494k tonnes.  This was the second highest weekly total in over a year.  This also comes following 2-year lows in soybean meal futures.

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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....