Friday April 25th, 2025

• Grain markets are ending off the week in the green.
  • Soybeans had their 4th consecutive close higher yesterday. 
  • The support was fueled by the expectations that there will be increased soybean demand from countries other than China. 
• Export Sales:
  • Corn and bean sales both fell within the range of expectations.
  • Corn sales were lower than last week by 45.4mb. 
  • Bean sales were lower than last week but are still slightly ahead of the needed pace.
  • The USDA reported 5.3mb of wheat cancellations. 
• Tariff Talk: There are reports that Japan is considering importing more US soybeans to help offset the loss of exports to China. There is also talk that 10 countries are currently working on trade negotiations with the US.
• The US Drought Monitor was released yesterday, there aren’t many changes from last week. There is still some dryness lingering in the far Western Corn Belt.
  • See the drought monitor map below. Weather will continue to be watched closely.
• An increase in Brazilian ethanol production could reduce the volume of corn available on the global market.
  • Corn-based ethanol output in Brazil is projected to reach 8.25billion liters this season, up considerably from the 140 million liters a decade ago.
  • With the rising domestic demand for corn it is forecasted that Brazils export volumes will decrease. This shift may ease competition for US corn in global markets.