Grain Marketing Education, News & Strategies

Tidbits Flash Sales: Yesterday, the USDA announced the sale of 488,000 mts of new crop soybeans to China and 136,150 mts of new crop soybeans to unknown. The June USDA crushing report had 520 million bushels of corn crushed, up 5% from a year ago. The soybean crush was 218 million bushels, up 10.65% from a year ago. The canola June crush was 204,577 tons, up 22.9% from a year ago. Biofuel: Friday EIA data showed combined biodiesel and renewable diesel production in May 2026 w

Tidbits The NOPA soybean crush in June was 214.34 million bushels of soybeans, up 2.7% from May and up 15.7% from a year ago. It exceeded trade expectations as the daily pace of processing rebounded from an eight-month low posted in May to the strongest level in three months. You can learn about the NOPA via the link: https://www.wrightonthemarket.com/post/about-the-nopa The USDA is now accepting applications for its Agribusiness Trade Mission to Vietnam on November 9-12. Vie

Tidbits Flash sales: Yesterday, the USDA reported new crop soybeans sales: 136,000 mts to China and 120,000 mts to unknown destinations. Soybean crush margins are record high and the U.S. crush pace is reaching breakneck speeds, according to the quarterly report from CoBank’s Knowledge Exchange released on July 8. Total soybeans crushed for the marketing year-to-date are up 8% compared to a year ago, with the pace consistently reaching monthly records. High diesel prices foll

Tidbits May Crushings data released yesterday by the USDA: Total corn consumed for alcohol and other uses was 524 million bushels, up 9% from April and up 5% from May 2025, 92% of it was for alcohol and 8% for other purposes. Soybeans crushed for crude oil was 6.39 million tons (213 million bushels), down 2.3% from April but up 4.4% from a year ago. Canola seeds crushed for crude oil was 164,947 tons in May 2026, 18% less from April but up 56% from May 2025. Cottonseed once r

Tidbits StoneX’s fertilizer guy, Josh Linville, reports U.S. price change of various nitrogen fertilizers since 1 March: NOLA urea - 39% higher NOLA UAN - 55% higher Midwest NH3 - 28% higher NOLA DAP - 21% higher NOLA MAP - 15% higher NOLA Potash - 14% higher *NOLA = New Orleans, Louisiana Deliveries to be Assigned Today For Tuesday Delivery on May Futures: March Crush: The USDA reported on Friday that corn crushed for alcohol and other uses was 523 million bushels in March

Tidbits The agriculture futures markets will be closed Friday, but banks, postal workers, and the government will be working. Futures markets will close at normal time today and open at normal time Easter Sunday. The CBOT prices were pressured yesterday by sharply lower crude oil and prospects for the U.S. to end its participation in persecuting the war against Iran. Corn and beans recovered nicely before the close, but wheat did not recover as badly needed rain is expected i

Tidbits January crush numbers were reported by the USDA after the close yesterday. Corn crush was 505 million bushels, down 2% from a year ago; 461 million bushels of corn were crushed for ethanol, down 1% from a year ago, crush numbers were better than we expected, given the January weather in the Corn Belt. The January weather probably had something to do with the amount of corn crushed for beverage alcohol at 3.47 million bushels, up 22% from January 2025. The soybean crus

Tidbits India & Oils: President Trump announced yesterday the U.S. and India have reached a trade agreement and will begin lowering tariffs on each other’s goods immediately. The U.S. will cut its reciprocal tariff rate from 25% to 18% and India will “move forward to reduce their Tariffs and Non-Tariff Barriers against the United States to zero.” Trump wrote on Truth Social that India also committed to buy American goods “at a much higher level, in addition to over $500 billi

Tidbits Flash sale: Yesterday morning the USDA announced the sale of 132,000 mts of old crop corn to South Korea. Crush numbers: The USDA reported yesterday after the close the November soybean crush was 221 million bushels; the market expected 225.2 million bushels. None-the-less, the November soybeans crush was 11 million bushels (5.2%) above a year ago. The meal inventory at the end of November was 463,019 tons, just 103 tons above a year ago while the oil inventory was

Tidbits Interest Rate: Members of the Federal Open Market Committee (FOMC) voted 9 to 3 to lower the benchmark Fed Funds rate by a quarter point to a new target range of 3.5% to 3.75%. One vote was to lower the policy rate by half percent, while two votes supported no change. Post meeting comments included that the Federal Reserve will buy $40 billion worth of U.S. treasury bills over the next 30 days to put more money in circulation; the Fed expects one rate cut in 2026 and

Tidbits December CBOT options expire Friday. Soybean futures were supported Sunday night and yesterday morning by Treasury Secretary Scott Bessent’s weekend comment that he expects a trade deal with China to be signed perhaps by Thanksgiving and expressed confidence China would buy U.S. soybeans, just a little later than we were told in late October. Then just before noon, the NOPA reported its soybean crush for October. It was 227.647 million bushels, 18 million more bushels

Tidbits Corn basis continues to firm. Dan reported Heritage Coop in West Central Ohio firmed from -45Z (45¢ under Dec futures) last Friday, to -40Z on Monday, to -37Z yesterday. More than half the corn is still in the field in that area where yields are not as good as expected in early August, but above average. Agronomists have identified the area west of Galesburg, Illinois, including communities of Alexis, Joy, Monmouth, Kirkwood, etc., as the Tarspot Ground Zero of the Co

Tidbits Frost: It is going to be quite chilly tomorrow morning in the Upper Midwest, and, yes, it could frost, but there is no serious threat of a killing frost, but the weather forecast could change. Do not be buying corn futures solely due to frost. Tuesday’s major PMI reports: Canada manufacturing: 48.3 vs 46.8 expected, S&P Global U.S. manufacturing: 53.0 vs 53.3 expected, S&P Global U.S. manufacturing: 48.7 vs 48.2 expected, ISM U.S. forces in the Caribbean fired upon a

Tidbits Wheat export: This wheat marketing year began 1 June. Total export wheat sales for this marketing year stand at 6.5 million mts, up from 5 million mts last year at this point. By wheat class, HRW sales are 2.6 million mts, up from 1.1 million last year, white wheat at 1.3 million mts, up from 1.2 million last year, and SRW export sales at 857,000 mts, up from 804,000 mts last year. Corn: A South Dakota client said yesterday he has 21 fields of corn and 16 of them ha

Tidbits The USDA reported the June 2025 crush numbers on Friday: Soybeans: 197 million bushels, up 7.6% from a year ago, the market expected 196.6 million bushels; Canola: 166,486 tons, down more than 15%; Cottonseed: once refined oil production down 13%; Corn: 498 million bushels in total and 448 million bushels for ethanol, both were down very slightly from a year ago. The Labor Department’s statistics chief was fired Friday by Trump. The weaker-than-expected July job

Tidbits The budget bill signed into law by President Trump yesterday afternoon has significant updates to the Section 45Z Clean Fuel Production Credit. Here is the status based on available information we have gleaned from multiple sources and is not yet official until the bureaucrats say it is: Extension of the Credit: Section 45Z credit is extended through December 31, 2029, which financially supports the production of low-carbon transportation fuels, including biodiesel an

Tidbits The U.S. Senate passed its version of the One Big Beautiful Bill Act, a ten-year fiscal package which would serve as the vehicle for fulfilling President Donald Trump’s campaign promises on tax cuts and border security. Vice-President Vance cast the tie-breaking vote after all Democrat and three Republican senators voted “No” on the measure: Sens. Rand Paul, Thom Tillis, and Susan Collins. The bill will now go back to the House of Representatives, which will accept or

Tidbits The USDA reported the crush numbers for April after the close yesterday. The soybean crush was 202 million bushels. That is 13.5% more beans crushed this past April than April 2024! The canola crush was 161,022 tons, down 14.6% from a year ago. Cottonseed once refined was 24.7 million lbs, down 12%. The April corn crush was 475 million bushels, up 1% from a year ago. Corn for ethanol was also up 1% at 426 million bushels. In April, Canadian canola crushing was 0.92 mi

Tidbits The total U.S. soybean crush for March was expected to be 205.5 million bushels, but USDA reported yesterday afternoon it was 206.572 million bushels, up 3% from a year ago. The March canola crush was 200,953 tons, down about 5% from a year ago. The total corn crushed in March was 504 million bushels and the corn for ethanol was 454 million bushels, both down 4% from a year ago. New unemployment claims in the U.S. for the last reporting week were above average at 241,

Tidbits The Chinese economy expanded at an annual rate of 5.4% in the first quarter of 2025, keeping the same pace as in the 4th quarter of 2024. The market expected a slower pace of expansion of just 5.1%. China’s economic annual growth rate is the strongest in 1½ years. Manufacturing sales in Canada rose 0.2% in February to CA$72 billion; the market expected a decline of 0.2%. February was the fifth consecutive month of increases and the highest level of sales since Septe