Commodities had a wild ride in the grains market after the March Prospective Planting Report was released. Corn acreage was projected to be 93.2 million acres, but the USDA pegged 2021 acreage at 91.1 million, down from the 92 million they forecast in February. For soybeans, the market had been expecting 89.9 million acres planted, however, USDA came in below expectations at 87.6 million, which was down from their February estimate of 90 million.
Lower acreage projections sent both corn and soybean prices limit up in trading at the Chicago Board of Trade. May corn futures settled up its daily limit of 25 cents at $5.64¼ and soybeans ended the day limit up 70 cents at 14.36¾ for May delivery. As a result of today’s limit up activity, the corn and soybean limits will expand tomorrow. The limit move for corn will increase to 40 cents per bushel…
02.21.2025
US animal fats and oils markets finish week strong; broader uncertainty persists
The US animal fats and oils markets ended Friday February 21 on a relatively quiet note, though broader market developments throughout the week have added ongoing uncertainty to the...
02.21.2025
Sausage casings bulletin, February 21, 2025
Runner market commentary
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02.21.2025
US weekly net soybean meal exports, sales retreat again
In the week to February 13, US net soybean meal and soybean cake sales and exports continued to decline but were above most analysts' estimates, data released by the...