7/7/2021

Jul 07, 2021


7/7/2021
Corn finishes another 5-9 lower after trading around nickel higher overnight on follow-through spec selling after yesterday's large liquidation.  Forecast is showing some fairly ideal weather for a large portion of the corn growing areas with tasseling and pollination imminent.  Trade seemed like it reminded itself today that soybean acres are at the bare minimum for this year and there is little-to-no margin for error on that crop with a 20+ cent bounce back today.  Old crop and cash sales for soybeans and corn have already been a little more active in July than what we had seen in June.  Crop condition ratings released yesterday were as follows: corn was unchanged from last week at 64% good/excellent (64% estimated, 71% last year), soybeans decline 1 point to 59% g/e (60% estimated, 71% last year), and spring wheat takes another hit, declining another 4 points to 16% g/e (19% estimated, 70% last year).  With spring wheat being shown at 69% headed, any additional rains at this point may not be very beneficial.  Trade likes to focus on the extremely bad.  Having 50% of the spring wheat crop as poor/very poor means 50% is still in good shape.  There are likely still some decent wheat fields in the areas assumed to have no crop. 

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....