Grain > Commentary > 9-24-2021

9/24/2021

Sep 24, 2021

9/24/2021
A very quiet day of trade with corn trading inside a 4-cent range and soybeans within an 11-cent range.  Funds and managed money remain sidelined while most are evaluating their position going into next week where the USDA will release the quarterly grain stocks report on Thursday.  Trade has steadily consolidated since the September WASDE report and the grain stocks report will provide us with a much-needed set of fresh fundamentals to trade and give our market some direction.  There was very limited news to trade this week and I expect we remain neutral/lower to start next week, barring any surprises.  Weekly close for corn is 6 higher and soybeans improved 4 cents on the week.  New crop basis remains historically strong going into the weekend and we recommend setting basis for hedged corn that will be delivered during the new crop period.  Murdock will be loading a soybean train tomorrow, September 25, and will be unable to receive corn for the day.

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3/31/2025
Mar 31, 2025
USDA reported corn planting acres at 95.326 million acres of corn, which would be up a little more than 5% from 2024's final number and the second highest March figure of the last ten years behind only 2020's estimate of 96.99 mil acres.  US corn stocks as of March 1st were seen at 81.51 billion bushels, which was exactly what the trade had expected and was down just over 2% from March 1 of 2024.  USDA said farmers intended to plant 83.495 million acres of soybeans, which would be down about 4% from last year and was just a hair smaller than what the trade was looking for.  March 1 soybean stocks were pegged at 1.91 billion bu's, which again was nearly exactly as the trade had expected, and was up 3.5% compared to March 1, 2024.
3/11/2025
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.  
8/30/2024
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...