5/4/2023

May 04, 2023


While today's trade may look negative on the surface, the lower price action in corn and soybeans was a healthy pull back after Wednesday's solid gains.  Wheat enjoyed modest gains while corn and soybeans made nice recoveries off of their lows and then traded steady.  We did see a couple of the front contracts flip green later in the session.  The weekly export sales report gave us another warning shot on corn demand.  For the first time in over 20 years, the month of April had a week of net cancellations for corn with 316k tonnes net canceled last week.  Soybean sales were within expectations at 290k tonnes sold.  With the May installment of the USDA WASDE due out next Friday, it will be interesting to see how the USDA handles the current state of corn demand.  It's no secret China is purchasing corn from Brazil who has a readily available supply.  The current state of Brazil's safrinha crop also remains a non-issue with conditions mostly ideal for the past 5 months.  In terms of marketing advice, the Dec:Mar corn spread has been giving us opportunities to roll at 10 cent premiums.  If you have HTAs on for December, not a bad place to start!
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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....