Thursday December 19, 2024
- Markets are mixed this morning.
- Beans try to remain positive this morning after taking a large loss yesterday.
- Corn trading relativity flat as we start the day
- Wheat is trading in the red this morning,
- Soybean futures collapsed yesterday, the most heavily traded March 2025 futures lost more than 25 cents per bushel. The spot futures posted their lowest trade since late August. Fund traders were estimated to have sold 20k contracts.
- Ethanol production was strong again last week, weekly output was up 2.3% on the week and 2.7% compared to the same week last year.
- U.S. rains exited the southeast with snow in the northern Midwest today, above-normal precipitation picks back up longer-term with temps above-normal. Argentine rains look light and held to the far north and west going forward, while brazil continues to see strong amounts.
- Export sales: Corn, beans, and wheat all came in within range of expectations. All three commodities had better sales then last week, with corn and wheat coming in better than last year.