Grain > Commentary > 3-22-2024

3/22/2024

Mar 22, 2024

The markets opened flat on Thursday evening and soybeans just could not find a bid to end the week. Soybeans finished deep in the red with 14-18 cent losses but down only 6 cents on the week. Corn recovered slightly after trading 4 lower to finish 1-2 cents down on the day but still up 2 cents on the week. Mexico stuck its head up again and brought a fresh round of business. Mexico continues to be one of the bright spots in demand for U.S. corn. The USDA confirmed the sale of 263,000 tonnes of corn for delivery to Mexico this morning. 173,000 tonnes delivered in 2023/24 and 90,000 tonnes delivered in 2024/25. Mexico's corn production was below average last year and they have stepped up their purchases of U.S. corn to fill needs. Next week is sure to bring some volatility and opportunity with the acres intentions report. Have those sell orders working!

Some seasonal trend activity from Kevin Clausen at John Stewart and Associates...

Read More News

6/11/2026
Jun 11, 2026
The USDA report was noneventful and now we wait for the stocks and acres report on June 30th.  25/26 corn carryout was estimated at 2.145 billion vs an average guess of 2.138 billion.  26/27 corn carryout was estimated at 1.960 billion vs an average guess of 1.947 billion. 26/27 World corn carryout was estimated at 281.22 Million Tonnes vs an average guess of 278.51.  That is up 4 Million Tonnes from the May USDA report. 
5/12/2026
May 12, 2026
Today was USDA report day.  Old crop corn carryout was pegged at 2.142 billion vs the average trade guess of 2.131 billion.  That is a 15 million bushel increase from the April report.  New crop 26/27 corn carryout was guessed at 1.957 billion vs an average trade guess of 1.933 billion.  The World old crop corn carryout was put at 296.95 million tonnes, vs an average trade guess of 296.33.
2/10/2026
Feb 10, 2026
It was USDA report day today and it turned out to be a yawner.  The markets never really reacted to the report, and the grains finished the day about where they started with corn unchanged and beans up 12 on the day.  US corn carryout was pegged at 2.127 billion bushels vs the average trade guess of 2.227 billion.  World corn carryout was placed at 288.98 MMT vs the average trade guess of 290.48 MMT.