Market Outlook

Jan 13, 2023


Market Outlook
Corn bulls got a big surprise with the January USDA supply and demand report. The U.S. production was lowered by 200 million bushels and ending stocks lowered 15 million bushels. The USDA also lowered Argentina and Brazilian expected corn production. Argentina has been dry and if they do not get rain, their crop could keep getting smaller. Global ending stocks were also lowered in the January report.

On the bearish side, demand was cut across the board. Exports were lowered by 150 million bushels and even domestic use was lowered by 10 million bushels. Going forward the fear is a weakening economy and with the drought we have had the last couple years, our livestock numbers are lower leading to less feed usage.

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Growers growing irrigated corn in 2023 are profitable at current prices. As you are buying your inputs for the new crop this spring, you need to be managing the profit potential and stay flexible. 
 

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Jan 16, 2024
As we welcome 2024, we do so with some encouraging rains in the ground and a blanket of snow covering most of the region. We also have optimism in the weather outlook that we might finally break the drought that has created challenging growing conditions. 
Sep 14, 2023
As we look ahead to the 2024 crop year many decisions loom in the not-so-distant future. Federal Crop Insurance, Coverage levels, unit structures, and whether to add SCO or ECO must be selected for the 2024 season prior to the September 30 deadline.
Jul 11, 2023
The USDA end-of-June acreage and stocks report excited the soybean bulls. The most notable number on the report was soybean acreage reported at 83.5 million bushels, down five percent from last year. On the grain stocks side of the report, 796 million bushels of beans are in storage, down eighteen percent from last June. The current drought monitor is looking friendly for the market despite the recent rains in the central corn belt.