9/11/2023

Sep 11, 2023


Corn and soybeans start the week with higher finishes in modest fashion.  Corn closed up 2-3 cents and soybeans 5-7 cents higher.  Trade was two-sided throughout the session but there was the appearance of some simple positioning ahead of tomorrow's WASDE report where analysts expect the USDA to make some cuts to the 2023 crop yields.  The USDA confirmed the sale of 185,000 tonnes of soybean meal for delivery to the Philippines during the 2023/24 marketing year.  The weekly export inspections report showed corn at the upper end of expectations with 624k tonnes shipped but soybeans on the low side at 310k tonnes inspected.

Corn has been consolidating on the chart since the Aug WASDE report and is set up for a possible breakout following tomorrow’s report at 11 a.m. 

 

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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....