5/12/2023

May 12, 2023


A largely negative WASDE report. USDA lowered 22/23 corn exports by 75 million bushels, increasing corn ending stocks to 1.417 bln bu. A couple things that stick out on the 2023/24 corn balance sheet: A 375 million bushel increase in feed use and an average farm price forecasted at $4.80/bu. On the soybean side, a small 5 million bu. bump in imports to take our 22/23 ending stocks to 215 mln bushels. For the 23/24 soybean balance sheet, it was pretty much plug and play. Steady demand numbers with a large increase in ending stocks from a bigger crop.

WASDE.png

Read More News

Apr 24, 2024
Profit taking was the feature of corn and soybean trade after corn rallied 20 cents and soybeans rallied 46 cents over the past week.  Spread correction was also seen today with May price spreads widening back out 1-2...
Apr 23, 2024
After struggling a bit on the tail end of overnight trade, corn and soybeans traded steady higher and looked their most firm heading into today’s close. After chugging higher for a third consecutive day, we viewed some more...
Apr 22, 2024
Some really nice follow-through after Friday's recovery resulted in some key technical signals for trade. Each pullback throughout the day was met with some fast buying. Corn and soybeans followed wheat's lead. Wheat...