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 Mar-22 corn futures ended last week up 3 percent at $6.06 per bushel, maintaining the recent trend above $6 per bushel. Prices have been on a nearly steady incline since bottoming out in early September. S&D and fundamental factors WASDE is this [...]
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 [...]
In the December WASDE, USDA made no changes to either the U.S. corn or soybean balance sheets. U.S. wheat 2021/22 ending stocks saw a slight increase as exports were cut 20 million bushels to 840 million bushels, and imports were lowered from 115 to [...]
Futures activity Despite what most would consider a bearish WASDE report (at least for domestic soybeans and soybean oil), soy complex futures ended last week considerably higher than they began. Jan-22 soybean futures closed at $12.445 per bushel, up nearly 5 percent from last [...]
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 [...]
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 [...]
For the month of September, corn used for fuel alcohol totaled just over 407.51 million bushels, down about 2 percent from August but up just over 1 percent from September 2020. Corn consumed for beverage alcohol totaled some 3.41 million bushels, down 2 percent [...]
