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USDA reports, extreme weather to move markets early in 2025 | Weekly Commodity Market Update

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Manage episode 459843063 series 2444487
Inhalt bereitgestellt von Brownfield Ag News. Alle Podcast-Inhalte, einschließlich Episoden, Grafiken und Podcast-Beschreibungen, werden direkt von Brownfield Ag News oder seinem Podcast-Plattformpartner hochgeladen und bereitgestellt. Wenn Sie glauben, dass jemand Ihr urheberrechtlich geschütztes Werk ohne Ihre Erlaubnis nutzt, können Sie dem hier beschriebenen Verfahren folgen https://de.player.fm/legal.

This week Will and Ben dive into how upcoming USDA numbers could shake the market out of sideways trading.

Market recap (changes on week as of Monday's close):

» March 2025 corn up $.05 at $4.57

» December 2025 corn up $.06 at $4.45

» March 2025 soybeans up $.06 at $9.97

» November 2025 soybeans up $.05 at $10.13

» March soybean oil flat at 40.33 cents/lb

» March soybean meal down $4.50 at $307.30/short ton

» March wheat down $.08 at $5.40

» July 2025 wheat down $.05 at $5.61

» March 2025 cotton flat at 68.68 cents/lb

» December 2025 cotton flat at 69.90 cents/lb

» October WTI Crude Oil up 2.29 at $72.82/barrel

Weekly highlights:

There were not many economic news headlines over the holiday season. That is not expected to continue in 2025 and seemed to start on Monday January 6th when Canada’s Prime Minister, top 3 trading partner to the US, announced his resignation and the Vice Chair of the Federal Reserve, Michael Barr also announcing his resignation.

US energy stocks were again mixed on the week. Crude oil stocks were down another 50 million gallons- the sixth consecutive reduction. US gasoline and distillate fuel stocks were both higher by 324 and 270 million gallons, respectively. US gasoline consumption fell 9% week over week but was 3% higher than last year.

US ethanol production increased to 327 million gallons for the week ending December 27th up from 325 million gallons the week before and 308 million in 2023. Ethanol stocks increased 24 million gallons.

USDA reported that November soybean crush came in at 210 million bushels- above the average trade estimate of 207.6 million bushels and 200.1 last November. This was a new record for the month of November but short of the volume set in October 2024 at 215.8 million bushels.

USDA reported corn used for ethanol in November at 464.9 million bushels- down from 467 million in October but up from 457 million bushels in November 2023. Dried distillers grain production was estimated at 1.836 million short tons in November.

Open interest in Chicago grains and oilseeds was down collectively 3% on the week. Open interest fell for combined wheats (-1.3%), soybeans (-10.2%), soybean oil (-2.4%), soybean meal (-8.2%) and rough rice (-3.5%) while being up for corn (+1.2%) and cotton (+1.0%).

Money managers were net buyers of the complex- buying a net 120,000 contracts. Money managers were buyers of wheats (9,322), corn (67,859), soybeans (25,436), and soybean meal (31,429), while selling off rough rice (-869), cotton (-4,162), and soybean oil (-9,015).

US grain and export sales were relatively disappointing over the holiday week- however, not the worst ever experienced. Corn, soybean and wheat export sales for 2024/25 marketing year at 30.6, 17.8 and 5.2 million bushels, respectively, were all bearish- falling below the expected range.

Weekly grain and oilseed export inspections were slightly bullish on the week. Corn and soybean exports of 33.4 and 47.2 million bushels, respectively, were within expectations while wheat shipments of 15.2 million bushels were above all expectations.

Topics:

» Market recap

» USDA numbers to shake up markets

» Soybean crush remains strong

» Impacts of cold snap

» Reports to watch

Connect with Brownfield Ag News:

» Get the latest ag news: https://www.brownfieldagnews.com/

» Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews

» Follow Brownfield on X (Twitter): https://x.com/brownfield

» Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews

About Brownfield Ag News:

Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

  continue reading

3335 Episoden

Artwork
iconTeilen
 
Manage episode 459843063 series 2444487
Inhalt bereitgestellt von Brownfield Ag News. Alle Podcast-Inhalte, einschließlich Episoden, Grafiken und Podcast-Beschreibungen, werden direkt von Brownfield Ag News oder seinem Podcast-Plattformpartner hochgeladen und bereitgestellt. Wenn Sie glauben, dass jemand Ihr urheberrechtlich geschütztes Werk ohne Ihre Erlaubnis nutzt, können Sie dem hier beschriebenen Verfahren folgen https://de.player.fm/legal.

This week Will and Ben dive into how upcoming USDA numbers could shake the market out of sideways trading.

Market recap (changes on week as of Monday's close):

» March 2025 corn up $.05 at $4.57

» December 2025 corn up $.06 at $4.45

» March 2025 soybeans up $.06 at $9.97

» November 2025 soybeans up $.05 at $10.13

» March soybean oil flat at 40.33 cents/lb

» March soybean meal down $4.50 at $307.30/short ton

» March wheat down $.08 at $5.40

» July 2025 wheat down $.05 at $5.61

» March 2025 cotton flat at 68.68 cents/lb

» December 2025 cotton flat at 69.90 cents/lb

» October WTI Crude Oil up 2.29 at $72.82/barrel

Weekly highlights:

There were not many economic news headlines over the holiday season. That is not expected to continue in 2025 and seemed to start on Monday January 6th when Canada’s Prime Minister, top 3 trading partner to the US, announced his resignation and the Vice Chair of the Federal Reserve, Michael Barr also announcing his resignation.

US energy stocks were again mixed on the week. Crude oil stocks were down another 50 million gallons- the sixth consecutive reduction. US gasoline and distillate fuel stocks were both higher by 324 and 270 million gallons, respectively. US gasoline consumption fell 9% week over week but was 3% higher than last year.

US ethanol production increased to 327 million gallons for the week ending December 27th up from 325 million gallons the week before and 308 million in 2023. Ethanol stocks increased 24 million gallons.

USDA reported that November soybean crush came in at 210 million bushels- above the average trade estimate of 207.6 million bushels and 200.1 last November. This was a new record for the month of November but short of the volume set in October 2024 at 215.8 million bushels.

USDA reported corn used for ethanol in November at 464.9 million bushels- down from 467 million in October but up from 457 million bushels in November 2023. Dried distillers grain production was estimated at 1.836 million short tons in November.

Open interest in Chicago grains and oilseeds was down collectively 3% on the week. Open interest fell for combined wheats (-1.3%), soybeans (-10.2%), soybean oil (-2.4%), soybean meal (-8.2%) and rough rice (-3.5%) while being up for corn (+1.2%) and cotton (+1.0%).

Money managers were net buyers of the complex- buying a net 120,000 contracts. Money managers were buyers of wheats (9,322), corn (67,859), soybeans (25,436), and soybean meal (31,429), while selling off rough rice (-869), cotton (-4,162), and soybean oil (-9,015).

US grain and export sales were relatively disappointing over the holiday week- however, not the worst ever experienced. Corn, soybean and wheat export sales for 2024/25 marketing year at 30.6, 17.8 and 5.2 million bushels, respectively, were all bearish- falling below the expected range.

Weekly grain and oilseed export inspections were slightly bullish on the week. Corn and soybean exports of 33.4 and 47.2 million bushels, respectively, were within expectations while wheat shipments of 15.2 million bushels were above all expectations.

Topics:

» Market recap

» USDA numbers to shake up markets

» Soybean crush remains strong

» Impacts of cold snap

» Reports to watch

Connect with Brownfield Ag News:

» Get the latest ag news: https://www.brownfieldagnews.com/

» Subscribe to Brownfield on YouTube: https://www.youtube.com/@BrownfieldAgNews

» Follow Brownfield on X (Twitter): https://x.com/brownfield

» Follow Brownfield on Facebook: https://www.facebook.com/BrownfieldAgNews

About Brownfield Ag News:

Brownfield Ag News is your trusted source for reliable agriculture news, market trends, weather updates, and expert interviews. Get comprehensive coverage and stay ahead in the ever-evolving agriculture industry.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

  continue reading

3335 Episoden

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