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 [...]

March WASDE: U.S. corn balance sheet unchanged

USDA made no changes to the 2020/21 U.S. corn balance sheet in the March WASDE. Ending stocks remain forecast at a multiyear low of 1.502 billion bushels, exports at record 2.600 billion bushels, and domestic use at 12.025 billion bushels, a five-year low.   Globally, 2020/21 corn ending stocks rose by about 1.1 [...]

WASDE: Industry hits on soybean stocks, misses on corn

In the February WASDE, USDA raised its 2020/21 corn exports forecast by 50 million bushels to 2.600 billion bushels. This dropped USDA’s 2020/21 U.S. corn ending stock forecast by 50 million bushels to 1.502 billion bushels, notably above the average industry estimates of 1.384 [...]

May-21 corn futures briefly test $5 after weeks-long rally

Corn futures have posted an astounding rally that began in the middle of December and accelerated through the first week of January. Supported by expectations of an additional downward revision to 2020/21 domestic and Argentine production and a weak dollar’s perceived impact on export [...]

WASDE: Limited changes for corn & soybeans

For the second consecutive December, USDA made no changes to the domestic corn balance sheet. Despite the industry expecting slightly lower 2020/21 ending stocks, the forecast remained at a seven-year low of 1.702 billion bushels. Globally, USDA lowered its 2020/21 world corn production forecast [...]

Pre-WASDE estimates: Corn stocks slightly lower

On average, the industry expects USDA to lower its 2020/21 domestic corn ending stocks forecast from 1.702 billion bushels to 1.691 billion bushels in Thursday’s WASDE. This estimate may reflect an anticipated increase to exports. Globally, 2020/21 ending stocks are expected to drop by [...]

WASDE: U.S. corn ending stocks plummet

USDA lowered 2020/21 U.S. corn ending stocks by 465 million bushels in the November WASDE on lower new-crop production and higher exports. Corn yield was lowered to 175.8 bushels per acre (bpa), down 2.6 bpa from the October estimate and notably below the average [...]

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