3/9/2022

Mar 10, 2022


3/9/2022
The market already had premium priced in ahead of the WASDE report so an overall neutral/slightly bearish report triggered risk off. There was also some pressure from outside markets with crude oil putting up big reversals on the charts, trading over $20/barrel lower today, but did recover from lows. Crude oil and gas futures were still trading double digits in the red as of around 1 p.m. and trading near values similar to last week. The USDA confirmed two sales this morning, both for the 2021/22 marketing year: 100,000 tonnes of corn to Colombia and 20,000 tonnes of soybean oil to unknown.

The cuts to US ending stocks were on target with what trade expected for corn and soybeans. South American crop estimates from the USDA were slightly under the average guesses. Wheat ending stocks came much higher than estimates predicted and an extremely overpriced wheat market responded accordingly.
corn.jpgbeans.jpg

Read More News

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....