South American harvest in full swing

As of Jun. 24, Argentina’s 2020/21 soybean crop was all but finished at 99 percent complete, which should allow higher export shipments in July. For corn, Argentina growers are through harvesting about 48 percent of the crop, including 73 percent of early corn and [...]

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 [...]

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 [...]

Corn follows soybeans higher

Corn futures were trading higher last Friday but are still in a consolidation pattern. The market will await a breakout as an indication as to whether the bullish trend can continue. For such direction, tomorrow’s WASDE report will be scrutinized as well as weather [...]

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 [...]

Corn futures consolidate ahead of USDA report

Corn prices traded in a relatively narrow range of about $0.10 per bushel last week. Traders were also positioning ahead of what is expected to be a fairly bullish WASDE report tomorrow as the market foresees the potential for additional declines to ending stocks [...]

Corn market positions itself ahead of WASDE

Last week brought relaxation in corn futures after the previous week’s volatility as the funds appear to have broken a bit. Mar-21 corn futures closed the week lower by about $0.06 per bushel at $4.205. Trade activity may also be positioning ahead of Thursday’s [...]

Load More Posts