Corn Futures Largely Steady with French Crop 92% Harvested

Corn prices corn prices rallied back Friday with some relief from the big reversal in stocks and the dollar to finish the week down 0.91%. The ethanol market is not signaling the need for enlarged production with current stocks filling demand. Gasoline consumption has failed to match year-ago levels since mid-summer. DDGS cash prices were mostly $5 to $15/ton lower from $210 (IN) to $340 (MO) regionally. The June 30 Acreage report showed corn again the largest crop produced in America … Continue reading “Corn Futures Largely Steady with French Crop 92% Harvested”

Corn Futures Higher Ahead of WASDE Report from USDA

Corn prices corn prices rallied back Friday over 1.0% to finish the week up 0.81% ahead of the next WASDE report from USDA,. December futures trended 7.5 cents higher to $6.83, with March futures up 7.25 cents to $6.9050. French farm office FranceAgriMer reports that 67% of the country’s corn harvest is now complete, up from 51% a week ago and well ahead of 2021’s pace of 6%. The ethanol market is not signaling the need for enlarged production with … Continue reading “Corn Futures Higher Ahead of WASDE Report from USDA”

Corn Futures Supported by Lower Stocks and Production Among Black Sea Disruption

Corn prices corn prices rallied back Friday 1.25% to finish the week largely unchanged.  USDA reported corn stocks were 1.377 bbu on September 1st, well below the average trade estimate. USDA also revised 21/22 production 41 mbu lower to 15.074 bbu. That was exclusively through WCB revisions. Black Sea supply concerns from Putin’s annexation of regions of Ukraine threatens to export balances. The ethanol market is not signaling the need for enlarged production with current stocks filling demand. Gasoline consumption … Continue reading “Corn Futures Supported by Lower Stocks and Production Among Black Sea Disruption”

Corn Futures Balance Between Soft Ethanol Demand and Black Sea Disruption Threats

Corn prices saw modest losses for the week 0.33%.  Black Sea supply concerns from Putin’s mobilization of more Russian troops and threats to exports balances out with insipid export demand and soft energy markets. The ethanol market is not signaling the need for enlarged production with current stocks filling demand. Gasoline consumption has failed to match year-ago levels since mid-summer. The June 30 Acreage report showed corn again the largest crop produced in America in 2022. USDA raised 2022 acreage expectations for … Continue reading “Corn Futures Balance Between Soft Ethanol Demand and Black Sea Disruption Threats”

Corn Futures Adjusting to Production Downgrades from Europe and Argentina

Corn prices saw modest gains of around 0.25% Friday, putting corn down for the week 0.84%. Monday’s World Agricultural Supply and Demand Estimates (WASDE) report from USDA concluded the U.S. ending stocks estimates were neutral for corn. The world ending stocks estimates were seen as moderately bearish for corn. The USDA cut corn production 415 million bushels (mb) to 13.94 billion bushels (bb). Coceral made “significant downward revisions” in France, Germany, Italy, Hungary and Romania. Argentina is also facing drought conditions. … Continue reading “Corn Futures Adjusting to Production Downgrades from Europe and Argentina”

Corn Futures Rallied Ahead of WASDE Report

Corn prices saw gains of more than 3% Friday, putting corn up for the week 2.89%. Monday the market gets the World Agricultural Supply and Demand Estimates (WASDE) report from USDA. More rain is seen for the Corn Belt in the coming days, particularly in parts of Wisconsin and Michigan. On Thursday, commodity funds were net sellers of corn (3,000). Meanwhile in France due to ongoing hot, dry weather, FranceAgriMer lowered its quality ratings for the 2022 corn crop for … Continue reading “Corn Futures Rallied Ahead of WASDE Report”

Europe’s Top Grain Producer France Hit by Drought Sees Corn Quality Plummet

Corn futures prices, along with other grains saw a sharp short covering bounce Friday, with nearby contracts rising 1% to 1.5% higher. For the week though with the flush of commodities with global “Risk Off” dynamics Corn closed around unchanged. Brazilian corn exports reached 297.4 million bushels in August, which was a year-over-year increase of 74%. FranceAgriMer noted lower quality ratings for Frances’s 2022 crop, with just 45% rated in good-to-excellent condition, a year-ago results of 91% The June 30 Acreage … Continue reading “Europe’s Top Grain Producer France Hit by Drought Sees Corn Quality Plummet”

FAO World Food Price Index Fell in August for Fifth Consecutive Month

Food prices have reversed sharply after being almost vertical for the past year, world food prices as measured by the FAO Food Price Index fell for the fifth consecutive month in August. The index was down 2.7 points (1.9%) from July, however remained 10.1 points (7.9%) above its value a year ago. At 138.0 the index is well under the record high 159.7 from March. Price falls were seen in all the five sub-indices of the FFPI in August, with monthly … Continue reading “FAO World Food Price Index Fell in August for Fifth Consecutive Month”

France Preparing for Hard Winter as Energy Crisis Escalates

France has responded to soaring power prices as the energy crisis deepens. France has been hit by a combination of shutting down nuclear power sources at the same time as Russia restricts natural gas supplies. The French finance minister Bruno Le Maire in a speech said France needs to prepare for a hard winter with less gas available and in need to think about rationing of gas to industry. The tone is very much in the panicky and threatening tone … Continue reading “France Preparing for Hard Winter as Energy Crisis Escalates”

Corn Futures Rebounded 6% with Worsening Drought in Western Corn Belt

Corn prices saw wild swings this week, not just from weather but the USDA retracted the new export report after the close of trading Thursday on the move to the new system. Grain futures on the Chicago Board of Trade sold off Thursday in reaction to the figures. Continuous corn futures closed down 1.1%, and on Friday, they bounced back, with corn closing up for the day 2.3%. Weather forecasted hinted at a return to seasonally hot, dry weather in … Continue reading “Corn Futures Rebounded 6% with Worsening Drought in Western Corn Belt”