CORN: Some weather forecasters are leaning toward dry weather for South America in March, with their monsoon possibly ending a bit early. If realized, this could be concerning for the safrinha corn crop getting started in Brazil. Traders and importers are aware of the calendar, which seasonally the grains tend
CORN: This week is setting up for potential volatility with several key countries in the global markets on holiday, along with the USDA Ag Outlook Forum later in the week. The Chinese and well as several Asian grain markets are closed for their Lunar New Year holiday, and the South
CORN: Thursday, February 8th is the next USDA report, which features updated Supply/Demand projections. The average trade estimate for 2023/24 US Grain Ending Stocks in corn is 2.148 billion bushels, which would be a slight decrease from January’s estimate of 2.162 billion. For the 2023/24 World Crop Production estimates traders
CORN: New Chinese economic concerns are weakening grain prices to start the week, on top of signs of slowing export sales in the corn market. This sets up the potential for lower Chinese demand for agricultural products. The CBOT corn prices had started on a path of trending higher last
CORN: With the final US crop estimate out for 2022-23, traders can now focus solidly on demand and the South American weather and production. US farmers are likely to continue to hold grain as long as possible or until prices reflect positive profits. This should help support basis levels. The
CORN: Trade estimates for Friday’s USDA report in US Ending Stocks for 2023/2024 Corn, are 2.111 billion bushels. This is down from 2.131 billion bushels in the last report, but higher than a year ago at 1.361 billion bushels. The total 2023/24 Corn Production is estimated to be 15.226 billion
CORN: Current weather forecasts are predicting a shift or change in the weather that Brazil has been experiencing for months. If fully realized it would bring normal rainfall to areas that have been experiencing extreme heat and dryness and would allow farmers to proceed with planting their second crop corn
CORN: The CBOT corn futures continue to teeter-totter between wheat and soybean futures. Typically, this period going into Christmas through the New Years holiday, can experience extremely low volume trading, resulting in exaggerated moves. Corn has taken on the role of following the other grains due to a large carryover
CORN: The CBOT corn futures are mostly choppy, as they follow either wheat or soybean futures on any given day. Last week’s USDA report was neutral for corn, with a slight cut in carryover from the November report, and that was expected by traders. Grain shipping from the US Gulf
