Thursday February 13, 2025

• Grains are mostly flat this morning.
  • Soybean futures falling hard yesterday on reports of big yields in Brazil, recent rainfall in Argentina and a continually bearish global supply and demand situation.
  • Heavy rains brought relief to crops in key Argentina corn and soybean areas yesterday.  Southern Brazil is also benefiting from the rain.
  • Wheat futures rose in the overnight trading amid signs of demand for US wheat.  Accumulated exports since early June now stand at 13.8MMT, a 24% increase from the previous year.  USDA also increased 24/25 food demand by 4MBU on the Feb report.  
• Yesterday’s inflation report came in higher than expected yesterday, as CPI showed inflation up 0.5% vs. the 0.3% trade expectation.  Higher energy prices were one of the main driving factors behind yesterday’s numbers, but all categories saw either steady or higher inflation numbers month/month.
• DOE weekly fuel ethanol production declined to 1.082mln bpd barrels per day on the week ending Feb 7th, down from 1.112mln bpd the week prior.
• Flash Sales:
  • US exporters sold 130,320MT of Corn to Unknown for 2024/2025 delivery.
  • US exporters sold 120,000MT of Soybeans to Unknown for 2024/25 delivery.