Thursday February 27, 2025
- Soybeans are trying to recover from their lows this morning, corn and wheat are in the red.
- USDA released the Ag Outlook Forum projections this morning giving soybeans a slight boost.
- Ethanol stocks (image below) have reached 5 year highs, just short of the all-time record, not helpful for the corn market.
- Wheat futures falling sharply with rain on tap for much of the US winter wheat country, as well as recent snowfall in Russia.
- President Trump’s proposed tariffs timing and extent remain uncertain.
- Canadian and Mexican import tariffs are set to take effect on March 4th. However, on Wednesday, Trump stated they will take effect on April 2nd, along with adding a 25% tariff on EU imports.
- The USDA will allocate up to $1 billion to combat the bird flu outbreak and help reduce egg prices.
- AG Outlook Forum (also pictured below):
- Corn- an increase to 94 Million acres from 90.6 Million in 2024.
- 181bpa VS 179.3 in 2024.
- Production is at 15.8 billion, up 5% from last year.
- Beans- reduction to 84 Million acres VS 87.1 Million in 2024.
- 52.5bpa VS 50.7 in 2024.
- Production is at 4.37 billion, up 0.01% from last year.
- Corn- an increase to 94 Million acres from 90.6 Million in 2024.