Friendly corn numbers

By Doug Tenney, Leist Mercantile

Report highlights: Corn exports up 150 million bushels, corn for ethanol up 50 million bushels, wheat exports up 25 million bushels. Does anybody believe the additional corn demand? You would think corn would be better than up 3 cents 9 minutes into the report.

Trade expectations: US corn exports to increase with a small chance of seeing corn used for ethanol increasing. Those could be hard to see as the December report is well known for often making few if any changes compared to November.

Following the noon USDA report release, corn was up 3 cents, soybeans up 2 cents, and wheat  1 cent. Just before the report was released, corn was steady, soybeans up 4 cents, and wheat up 1 cent.

US 2024/25 ending stocks: corn 1.738 billion bushels, last month 1,938 billion bushels; soybeans  470 million bushels, last month 470 million bushels; and wheat 795 million bushels, last month 815 million bushels.… Continue reading