Grain > Commentary > 4-8-2021

4/8/2021

Apr 08, 2021

4/8/2021
A good day on the board of trade for both corn and soybeans.  Some rumblings of possible export business but other than that, not much for new news.  Today's strongly higher trade in corn caught many by surprise, with most expecting a move of this type tomorrow.  It appears the funds spent today positioning themselves ahead of tomorrow's WASDE report where it is expected that the USDA will cut the corn and soybean carryout numbers.  Possible drought stress issues in Brazil's second crop corn also had speculators putting their money down on the long side of the market.  The weekly export sales report was mixed with both old and new crop corn reported within their expected ranges.  Old crop beans showed net-cancellations in contrast to new crop beans, where numbers came in above trade estimates.  It is tough to pin-point a certain reason why corn was so strong today besides just a combination of everything bullish coming forward, similar to our down days where everything bearish gets spotlighted at one time.  Tomorrow will be nothing short of exciting in the markets.  Nice soaker-type rain showers over the past couple days in our area with more forecasted.  Looks like we will have ample moisture to get this year's crop started.

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3/31/2025
Mar 31, 2025
USDA reported corn planting acres at 95.326 million acres of corn, which would be up a little more than 5% from 2024's final number and the second highest March figure of the last ten years behind only 2020's estimate of 96.99 mil acres.  US corn stocks as of March 1st were seen at 81.51 billion bushels, which was exactly what the trade had expected and was down just over 2% from March 1 of 2024.  USDA said farmers intended to plant 83.495 million acres of soybeans, which would be down about 4% from last year and was just a hair smaller than what the trade was looking for.  March 1 soybean stocks were pegged at 1.91 billion bu's, which again was nearly exactly as the trade had expected, and was up 3.5% compared to March 1, 2024.
3/11/2025
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.  
8/30/2024
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...