9/7/2023

Sep 07, 2023


Corn and soybeans were stuck in lower trade in a very quiet Thursday.  Corn was uneventful with closes ranging from unchanged to down 1 cent on the day.  December 23 corn was the sole higher finish with a 1/2 cent gain.  Soybeans saw the remaining fresh length from the beginning of the week squashed out of the market, trading two-week lows and finding some basic technical support at the 50-day moving average.  Soybeans closed with 8-16 cent losses.  Weekly ethanol data showed production rising 5,000 barrels/day to 1.012 mln bpd.  Stocks were up slightly on the week.  Despite several of its own loading facilities damaged, it is reported that Ukraine has begun to export grains through Croatia.  Early dryland yield reports out of Kansas and Nebraska give no indications of a crop disaster.

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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.
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.