2/6/2024

Feb 06, 2024


Another uneventful trading session as the market continues to chop.  Corn ranged from 3 higher to 4 lower throughout the day.  Soybeans featured some excitedment early in the session, trading to 9 cents higher before fading back and finishing 1-3 cents higher.  There were no notable headlines or USDA reports today but we did get the full trade estimates for Thursday's WASDE report.  Analysts do not foresee much of a shake up in the U.S. crop balance sheets and expect a small cut in corn ending stocks and a small increase in soybeans ending stocks.  What will be given some consideration from trade is what the USDA does with production in South America.  In typical fashion, private analysts have been much quicker to cut the Brazil soybean crop down over the past few months while the USDA has taken the slower approach.  Analysts are looking for the USDA to reduce Brazil soy production from 157.0 to 153.15 million tonnes and corn from 127.0 to 124.32.  These numbers would need to go sub-150 and -120 over the next few reports to wake up the market.

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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....