WASDE: Higher corn & soybean ending stocks

In the January WASDE, USDA increased its 2021/22 U.S. corn production estimated to 15.115 billion bushels, up 53 million bushels from the December estimate. USDA raised 2021/22 corn ending stocks to 1.540 billion bushels, up 47 million bushels from the previous forecast. Corn exports [...]

WASDE: Yields higher for corn, lower for soybeans

In the November WASDE, estimated 2021/22 U.S. corn yield was raised 0.5 bushels per acre (bpa) to 177.0 bpa, which would be the highest yield on record. With this improved yield, estimated new-crop production rose to 15.062 billion bushels, up 43 million bushels from [...]

Corn futures fall under liquidation pressure

Futures activity Positioning ahead of tomorrow’s WASDE report led to volatility in the corn market last week. Dec-21 futures settled at $5.53 per bushel last week, down $0.26 per bushel from Monday. Dec-22 futures closed at $5.405 per bushel. S&D and fundamental factors Ahead [...]

WASDE: New-crop corn production & stocks raised

In the September WASDE, 2021/22 U.S. corn yield was estimated at 176.3 bushels per acre (bpa), up 1.7 bpa from August and above the average industry estimate. USDA also raised its 2021/22 harvested area estimate by 600,000 acres to 85.1 million acres. Improved yield [...]

Corn ending stocks adjusted in July WASDE

In the July WASDE, the 2020/21 U.S. corn ending stocks estimate was lowered 25 million bushels to just 1.082 billion bushels, an eight-year low, because of burgeoning corn feed demand. For 2021/22, U.S. corn production is seen at 15.165 billion bushels, up 175 million [...]

June WASDE: Corn exports & ethanol demand up notably

In the June WASDE, USDA lowered its 2020/21 corn ending stocks to 1.107 billion bushels, down 150 million bushels from the May figure and well below industry expectations. The drop in stocks was caused by 2020/21 U.S. exports and ethanol demand each rising by [...]

WASDE: Corn carryout drops, soybean carryout steady

In the April WASDE, USDA lowered its 2020/21 U.S. corn ending stocks forecast by 150 million bushels to 1.352 billion bushels. This change to carryout is due to both exports and domestic use each rising 75 million bushels. For 2020/21, exports are now forecast [...]

Corn futures jump on acreage report then correct

Most-active May-21 corn futures rose to a contract high following the Mar. 31 acreage report but have since corrected by 10 cents. On Tuesday, Apr. 6, the contract settled at $5.5425, 13.25 cents above the Jul-21 contract’s close. RSI has been rangebound between 51.0 [...]

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