Friday February 21, 2025

• Corn and beans are trading in the red this morning, while wheat is trading in the positives.
• President Trump has suggested that a trade deal could still be reached with China despite tensions. Chinese President XI is expected to visit the U.S. and lead negotiations. 
• Weekly US ethanol production was strong again last week. Weekly output was up marginally on the week, ethanol stocks were up +2% compared to the previous week. Year to date corn used for ethanol is estimated at 2.523bbu, this is ahead of last years paces and 25mbu ahead of the USDA’s target. 
• FranceAgriMer reported a one point increase in French soft wheat ratings this week, now at 74% good/excellent. 
• Export sales
  • Corn sales were strong for the week, sales were within expectations 
  • Soybeans and wheat sales came in near the upper end of trade expectations. 
• Weather Update:
  • The U.S. remains dry through the weekend and early next week. 
  • Argentina was mostly dry over the past 24 hours. Chances of rain are good in the central crop areas Sunday through Tuesday.
  • Brazilian rains finally lightened a bit yesterday but still lingered in the center north, with chances holding in the north.