5/25/2023

May 25, 2023


The bears and bulls struggled to maintain direction today.  Corn and soybeans traded some nice ranges away from either size of unchanged, giving most a chance at positioning no matter their bias.  There is finally a small buzz going around the market with some concern about moisture conditions.  Funds had recently flipped short but have worked themselves closer to a neutral position as we are now one day out from an extended weekend.  The market has built a slightly bullish sentiment based solely on weather as domestic and export demand for corn continues to dwindle away.  Weekly export sales were within expectations with net cancellations for corn (75k tonnes) and wheat (45k tonnes) and net sales of 115k tonnes of soybeans.  There was a nice bump in bean meal sales with last week's sale announcement to Poland.  Marketing year to date, corn sales are short of the pace needed to hit the USDA target by 132 million bushels versus 108 million last week.  Soybean sales are short by 100 million bushels versus 71 million last week.  Actual shipment pace for corn is short by 107 mln bushels and soybean shipments are 50 million bushels ahead but the gap is shrinking.

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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....