BASIC & RECENT MARKET INFO

The numbers were: Friendly to Bullish Corn Friendly Soybeans Negative U.S. Wheat  Neutral World Wheat    20 Minutes After the Report: May...

Tidbits Yesterday morning, the USDA announced the sale of 240,000 mts of old crop corn to Spain. In February, U.S. agricultural trade deficit showed slight improvement, with exports decreasing to $13.59 billion (a drop of $830 million from January) and imports falling more sharply to $17.86 billion (down $2.81 billion). This reduction narrowed the monthly trade deficit to $4.27 billion, an improvement from January's record deficit of $6.25 billion. USDA projects 2025 financia

Highlights The USDA could have and should have increased corn exports and ethanol use on yesterday’s S&D, but it did not, as we predicted. If you noted our summary chart of weekly exports inspections we send you every Tuesday, yesterday’s chart showed you the USDA projects corn exports this marketing year to be 6.9% more than a year ago, but with half the marketing year still ahead of us, corn exports are running 38% ahead of year ago. We know corn exports will slow down in t

The numbers were: Friendly Corn Friendly Soybeans Negative Wheat     10 Minutes After the Report: May Corn +1.5 Dec corn -0.25 May beans...

Highlights AgrInvest Commodities cash grain trader for exports, Eduardo Vanin , yesterday morning: "The soybean basis rally continues. For May, at +75sk (75¢ over May soybean futures)  new highs, +50¢ per bushel from last week. This is one of the most aggressive weekly rallies I have ever seen. The April/May cash price is nearly equal to the June/July (very little carry) ."   Earlier this week, a conveyor belt system collapsed  at the TGPM grain loading port terminal at the B

Highlights Mexico said it is willing to raise tariffs  on Chinese goods and buy more from the U.S. to avoid President Trump's 25% tariff, Bloomberg reported late Friday.   Canada and Mexico are feeding Trump evidence of their progress in curbing the flow of fentanyl opioids into the U.S. ahead of the midnight Monday deadline for 25% tariffs on their non-energy imports. Crude oil from Canada is facing a 10% tariff on its 4,000+ barrels per day to the U.S.      Friday’s financi

Highlights The USDA made no changes on the domestic corn and soybean S&D  other than increasing the average price expected to be paid to...

The numbers were: Friendly Corn Friendly Soybeans Slightly Friendly Wheat     10 Minutes After the Report: March Corn -1 March beans -2...

Highlights The weather pattern Mato Grosso and Goias through Wednesday is expected to allow a sharp advance in the harvest pace. Weather forecasts indicate alternating rain and sun, with higher temperatures. Elevators in Mato Grosso reported a three to fourfold increase in soybean deliveries the past two days. Crushers report very low protein content (below 33%), but high oil content.   In Brazil’s leading corn and bean producing state, Mato Grosso (MT), the prices in July fo

Highlights The market reaction to the USDA numbers was bullish for corn and beans. Corn should have been stronger than it was given as the 2024 corn yield was reduced 3.8 bushels per acre.      The USDA pretty much admitted they do not know what they are doing or that they had been lying to us about the corn and soybean inventory.   USDA added 200,000 acres of corn harvested, but cut the yield by a whopping 3.8 bushels to 179.3. The lowest trade yield guess was 181.3.   The b

The numbers were: Bullish Corn Bullish Soybeans Neutral Wheat     45 Minutes After the Report: March Corn +13 January beans +23 March...

Highlights Agricultural markets will close at 12:15 PM CST tomorrow, January 9th in a National Day of Mourning for former President Jimmy Carter. The grain markets will reopen at their regular times Thursday evening and trade normal hours on Friday, January 10th, the day of the USDA S&D at 10 AM Mountain Time. The weather forecast for South America has not improved in the past 24 hours. If anything it is hotter and drier in Rio Grande do Sul and Argentina and rain is in the f

Tidbits U.S. inflation  at the retail level increased 0.3% in November, the most in 7 months, but the Federal Reserve is still expected to cut interest rates next week to support job growth. However, the decline in the inflation rate has come to an end and the Federal Reserve's inflation goal of 2% per year is well below the November annual rate of 3.6%.   Yesterday, the Bank of Canada reduced its base interest by 50 basis points (one-half percent) to 3.25%. Just a few months

Highlights The USDA S&D numbers released yesterday were as neutral as can be for soybeans and wheat, but bullish for corn. When Roger saw the corn numbers, he told Olga corn should be up 10 to 15 cents higher. Corn was up 4 when the report was released and it was 5 to 6 higher for the first 15 minutes after the report was released. Late in the trading session, March corn did trade to $4.50 yesterday and settled at $4.49, up 7¼. March corn traded to $4.52¼ on 2 October after m

The numbers were: Friendly Corn Neutral Soybeans Neutral Wheat 17 Minutes After the Report: March Corn +4.75 January beans +2.25 March...

Highlights On the November S&D, USDA reduced corn yields by 0.7 bu. to 183.1 bu. and an even bigger surprise was a 1.4 bu. reduction of soybean yields to 51.7 bushels per acre. The soybean yield was lower than the lowest yield estimate by three-tenths of bushel!   Corn yield was reduced for all the states along the Atlantic Seaboard as well as Kentucky down 3.2 bu., Illinois down 1.8 bu., Missouri down 1.6 bu., Nebraska down 1 bu., Iowa and Wisconsin both down 0.5 bu. But Ind

The numbers were: Friendly Corn Bullish Soybeans Neutral Wheat   17 Minutes After the Report: Dec corn +4.5 Nov beans +8.5 Dec CBOT wheat...

Highlights Leaders of foreign countries who sell products to the U.S. markets, are scurrying to prepare to deal with President Trump’s...

Highlights The main point of interest on yesterday’s S&D was what would the USDA do with corn and bean yields. The market expected both to be reduced slightly. USDA did lower bean yields one-tenth of a bushel, as expected, but increased corn yields two-tenths of a bushel while the market expected a two-tenths of a bushel reduction.   USDA increased corn demand by 73 million bushels, bringing the total increase in corn demand since 1 November to 813 million bushels! Throw in t

The numbers were: Neutral Corn Neutral Soybeans Neutral Wheat   17 Minutes After the Report: Dec corn -1 Nov beans -5 Dec CBOT wheat -9...