AgResource Corn Comment and Analysis
CBOT Corn Scores Newer Low on Bearish New Crop Balance Sheet: CBOT corn futures ended lower for a second day as USDA pegged 24/25 US end stocks at 2.5 Bil Bu, up 360 Mil Bu from the current year. Stocks/use is projected to reach 17%, the highest since 2005/06. ARC notes USDA’s Outlook Forum end…
NOPA Member Soy Crush in January
The January NOPA crush rate came in slightly below trade estimates but was still 6.8 Mil Bu, 4% larger than a year ago at 185.8 Mil Bu. This was a record large January soybean crush despite arctic cold that slowed crush operations from January 11 -22nd. Compared to a year ago, the largest decline was…
AgResource Soybean Comment and Analysis
Soybeans Fall Following Outlook Conference: Soybean futures closed lower on Thursday following the release of the Outlook Conference balance sheet estimates. The USDA estimated that US soybean acres would increase by 3.9 Mil acres, and the yield would increase by 1.4 BPA. Both were largely anticipated, but funds sold soybeans on the news. The US…