Author: Blue Line Ag Hedge Research Team
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Temperature and Precipitation Outlook
The 8-14 day temperature and precipitation outlook shows hotter temperatures all of the grain belt. The precipitation outlook is split with the western side on the drier end and the eastern side showing chances of better precipitation.
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Grain and Livestock Market Recap
Grains Grain markets were higher in the early morning trade but finished the session mixed. Corn squeaked out gains of about 2 cents, which was a nickel off the high of the day. Soybeans finished mixed with front month futures lower and new crop futures higher, both were about a dime off the highs. Wheat…
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Flash Sale – Corn
Export Sales to Unknown DestinationsPrivate exporters reported sales of 200,000 metric tons (7,873,650 bushels) of corn for delivery to unknown destinations during the 2024/2025 marketing year. This comes on the back of yesterday’s flash sale which was for 133k MT for delivery to Mexico.
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Ag Markets Get the Green Light
It was green across the screen in Ag markets today, with grain and livestock markets uniformly higher. Corn September corn futures settled 9 ¼ cents higher to 400 ¼. August options (trade off September futures) expiration is on Friday, so it’ll be interesting if that psychologically significant $4.00 level becomes the magnet this week. The…
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Are Corn and Soybeans on the Verge of a Breakout?
Corn and soybeans are higher to start the week and threatening a breakout above the top end of the recent range. How much upside potential is left?
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Weekly Export Inspections
Weekly Export Inspections Snapshot Corn: 970,539 metric tons (38,208,421 bushels). This was within the range of estimates. Soybeans: 327,061 metric tons (12,017,431 bushels). This was within the range of estimates. Wheat: 237,965 metric tons (8,743,714 bushels). This was below the low end of estimates.
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Flash Sale: Corn
EXPORT SALES TO MEXICO Private exporters reported sales of 133,000 metric tons (5,235,977 bushels) of corn for delivery to Mexico during the 2024/2025 marketing year. This is the first flash sale of corn since July 8th, which was for 134,636 MT for delivery to Unkown Destinations.
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Export Sales to Unknown Destinations
Private exporters reported sales of 105,000 metric tons (115,742 bushels) of soybean cake and meal for delivery to unknown destinations during the 2024/2025 marketing year.
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Better Export Data Helps Soybeans Stabilize
Subscribe to Blue Line Ag Hedge today! Weekly export sales for soybeans were reported at 360,100 MT (13,231,406 bushels) for 2023/2024 were up 73 percent from the previous week and 13 percent from the prior 4-week average. This was within the range of expectations. Net sales of 375,000 MT (13,778,887 bushels) for 2024/2025. This was…
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Flash Sale – Soybeans
EXPORT SALES TO UNKNOWN DESTINATIONS Private exporters reported the following sales activity: This was the first flash sale since July 10th, which was a sale of 132,000 MT of soybeans for delivery to China during the 2024/2025 marketing year.