3/23/2021

Mar 23, 2021


3/23/2021
Another day lacking any real fresh trading news.  Trade continues to stay range bound with any move inside of the established ranges dictated by the fund and speculator money deciding to either buy or sell.  Crude oil began rallying the day after Election Day (go figure) but has recently been in a sharp decline after setting contract highs 2 weeks ago.  Despite a 15% fall-off in futures, the increase in crude oil prices has helped improve ethanol margins.  Basis for both corn and soybeans has strengthened during the month of March with end-users bidding to lock in coverage through the spring planting season where farmer selling and hauling is seasonally idle.  We have seen good precipitation recently in Argentina, easing some of the concerns of crop failure.  In the US, drought stressed areas have been the beneficiaries of ample rain and snowfall over the past couple weeks to give this year's crop a nice start at planting.  We are still in a bull market but the number of items on the menu to feed the bull are shrinking.  The USDA's planting intentions report, set to be released on the 31st, will provide a fresh set of real fundamentals to give our market a direction and provide the best chance to break higher.
 

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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....