Corporate announcements make up a bulk of last week’s top news

Corporate announcements make up a bulk of last week’s top news

Export sales came out within analyst expectations today for corn and soybeans. However, wheat provided a bit of a surprise.

Export sales were released this morning showing that old crop corn and soybean sales met expectations while wheat sales came in better than expected. Despite meeting analyst expectations this week the 290,000 MT of 13/14 corn sales and 40,600 MT of 13/14 soybean sales wasn’t enough to move...

Today we discuss US ethanol production and what this is doing to the US cash market for old crop corn. Exports are also discussed as Chinese and Ukraine talk both dominated trade circles today.

U.S. grain markets are trying to find bottom today

U.S. grain markets are trying to find bottom today, two days after the June USDA report sent markets sharply lower. Coming into the morning trade break we have corn down 2 cents, soybeans off a penny, and Chicago wheat down a cent. Old-crop soybeans are again taking ground on the new crop,...

Fundamentals remain very negative for soybeans but corn remains a different story.

Reported soybean acres surprised the market by over 2 million acres

U.S. Soybean acres came out 2.5 million acres higher than trade estimates, pushing new crop prices sharply lower.  Northern states saw the largest acreage additions year over year, with 1.35 million soybean acres added in North Dakota alone. Michigan, Minnesota, and Wisconsin saw a combined...

Corn basis slipped a couple cents along the upper Mississippi as heavy rains slow barge movement to the gulf.

Corn basis was unchanged on average this week but we again observed weakness along the upper Mississippi river system. Flooding remains a major problem for barge traffic and as a result grain buyers have been moving spot corn basis lower for the last two weeks. This week saw spot corn basis...

Surprise gave soybeans a high trading day

The market was lifted by stronger than expected export sales reported early this morning. In response to the surprise, soybeans was able to trend higher for the remainder of the day. The market will be looking forward at the June 30th Acreage Report and the Quarterly Grain Stocks numbers...

Strong weekly soybean export sales indicates demand responding to early June selloff.

Keep an eye on the July and August soybean contracts as the market opens this morning.

Soybean export sales were reported at 317,200 – well above trade expectations for around 150,000 tonnes sold. This morning’s report included the large reportable sale of 140,000 tonnes to unknown...

Wheat basis out of the gulf and futures both moved higher today

Wheat basis out of the gulf and futures both moved higher today as production concerns and demand side numbers support the trade. Today we discuss the wheat market and expectations for the June 30th reports.