8/1/2022

Aug 01, 2022


8/1/2022
Major pressure on the market from multiple angles geared trade towards risk-off early into the overnight session.  Updated weather models showed relief from previously forecasted high temps along with increased probabilities of rain across the growing regions.  The Oklahoma/Texas panhandles and Southwestern Kansas also received good amounts of much needed moisture over the weekend.  Crude oil traded $5-6/barrel lower early this morning but did recover slightly.  A vessel loaded with corn departed from Ukraine for the first time since late February and it is reported there are an additional 16 vessels loaded and ready to sail.  A lot of negativities to start the week and a prime set up for a turnaround Tuesday after corn and soybeans both finished well off of their lows on the day and trade is expecting another decline in crop conditions in this week's progress report.  Weekly export inspections were decent for corn and soybeans with 857k tonnes of corn and 555k tonnes of soybeans inspected for shipment.  With one month to go, corn exceeds the pace needed to hit the USDA export target by 74 million bushels and soybean pace falls short by 49 million bushels.  Early crop tours are starting this week and we will keep you up to date with those results.
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Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off. 
Aug 12, 2025
The USDA report today didn't treat the corn market very well.  Both corn acres and yield were higher the result has corn carryout over 2.1 billion bushels.  Corn yield was pegged at 188.8 bpa vs an estimate of 184.29 bpa.  How high is 188.8?  Well…the previous record was 179.3.  Planted corn acres were put at 97.3 million.  Total corn production is estimated at 16.742 billion bushels, which is 763 million more than the report estimates.
May 12, 2025
News broke Sunday that the USA and China have agreed to ease tensions and lower tariffs.  The US is lowering tariffs on Chinese goods from 145% to 30%.  China is lowering their import tariffs from 125% to 10%.  Talks will resume in the coming weeks.  This news had stocks, grains and oil higher overnight. Then of course we had a USDA grain report come out at 11:00 this morning.  That was also a bit friendly.