Massive sell off in commodities, including corn

Futures activity New-crop Dec-22 futures settled at 6.550 on Thursday, the lowest since Mar. 29. The December contract closed at 6.7400 per bushel on Friday, down from $7.31 per bushel a week ago and down 8 percent week over week. S&D and fundamental factors [...]

Soy complex contends with divergent market scenarios

Futures activity The meal piece of the soy complex showed the greatest strength last week, with Jul-22 meal futures closing the week up $23 per short ton at $438.10. Conversely, soybean oil futures came under pressure, with the Jul-22 contract closing at $0.7379 per [...]

U.S. ethanol use at five-week low, corn-based ethanol blend for 2022

For the week ending Jun 3, U.S. ethanol blending and refining use was 898,000 barrels per day (bpd), a five-week low and down about 1 percent YOY. Ethanol production for the week was 1.039 million bpd, down 3 percent week on week but up [...]

U.S. April food prices up 1% from March, up 9% YOY

ERS estimates inflation for selected food price indexes in the U.S. was 1.0 percent in April vs. March, with inflation for food at home at 1.3 percent that month. Eggs saw double-digit inflation, up 10.3 percent from March and up 22.6 percent YOY. Dairy [...]

Weekly soybean exports around average heading into June

U.S. soybean export sales and shipments for the week ending Jun. 2 were well above year-ago levels and closer to the average of recent seasons. Last year, with high U.S. pricing and the Brazilian crop amply supplying the market, U.S. soybean exports crawled through [...]

Modest changes for corn in June WASDE

Friday’s WASDE was reasonably quiet on the corn front, with only a modest change made to export demand on the 2021/22 domestic balance sheet. With the 50 million bushel reduction in exports and a 5 million bushel increase to food/seed/industrial use, 2021/22 ending stocks [...]

Ethanol & corn production unchanged in June WASDE

In its June WASDE report, USDA raised its previous estimate for 2022/23 world corn ending stocks by 5.32 MMT to 310.5 MMT, about 400,000 MT below the current season’s volume. World corn production was increased by 5.1 MMT to 1.186 billion MT, up 30.1 [...]

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