Today’s WASDE report delivered a few modest changes to the U.S. balance sheets for wheat, corn, and soybeans, leaving ending stocks a bit higher from the October estimate for corn and soybeans and slightly lower for wheat. USDA tweaked 2022/23 wheat use for food [...]
NOPA soybean crush and oil stocks figures for April came in below expectations. Ahead of the processor report, crush was anticipated to be around 172 million bushels, but several plants were down for maintenance, per Reuters, which contributed to crush being just under 170 [...]
In its April WASDE report, USDA made minimal changes to its existing forecast for corn but did adjust soybean use estimates. USDA did not change its prior 2021/22 U.S. corn production estimate of 15.115 billion bushels, still above the past two seasons’ volumes. Corn [...]
Futures activity Nearing expiration, the Mar-22 soybean futures contract closed last week slightly higher than it began, at $16.9075 per bushel. Futures did manage to close at a record $17 per bushel on Thursday before correctly slightly on Friday. S&D and fundamental factors USDA’s [...]
Futures activity Mar-22 soybean futures saw a volatile week of trading, with prices making fresh highs of $16.33 per bushel last Thursday morning before crashing to close at $15.74 per bushel. On the week, prices moved up 32 cents per bushel to $15.85 per [...]
Futures activity Jan-22 soybean futures exited the board at $13.5675 per bushel. For Mar-22, futures ended last week lower at $13.6975, down by nearly $0.40 per bushel from the previous Friday. S&D and fundamental factors In last week’s WASDE, USDA raised U.S. 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 [...]
Futures activity Last week’s trading activity was a mixed bag for the soy complex. Jan-22 soybean futures ended the week at $12.6775 per bushel, nearly identical with the week ending Dec. 3. Soybean meal closed at $366.80 per short ton, up $14.20 per ST [...]
