USDA’s 1 March quarterly stocks and initial planting intentions reports have a history of providing market-moving surprises, and today’s releases add to that history. The corn and soybean stocks had been expected to be record large, and they were. Along with those of wheat, they all exceeded the average trade guesses as reported by newswire services. For corn and soybeans, the difference was substantial at 173 million bushels and 67 million bushels, respectively. Meanwhile, wheat’s stocks were less than 10 million bushels more than expected. By contrast, grain sorghum stocks were considerably smaller than expected, reflecting how tight that balance sheet is becoming.
Stocks of corn and soybeans were surprisingly and bea...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
