USDA GRAIN STOCKS REPORT: Corn stored in all positions on December 1, 2024 totaled 12.1 billion bushels, down 1 percent from December 1, 2023. Of the total stocks, 7.66 billion bushels are stored on farms, down 2 percent from a year earlier
Market Update
U.S. EXPORT SALES: Beef sales 5,600 MT for 2025 marketing year, which began January 1, were primarily for Mexico (2,400 MT, including decreases of 2,800 MT), South Korea (1,300 MT, including decreases of 200 MT)
Market Update
CME GRAINS: Corn: $4.705 (+0.145); Wheat: $5.3075 (-0.0325); Soybeans: $10.2525 (+0.2625); Soybean Meal: $298.30 (-1.00) (VIEW COMMODITY QUOTES)
National Corn Wire
ENERGY PRICES: Crude Oil: $76.64 (+2.72); Ethanol: $1.685 (+0.06); Natural Gas: $3.984 (+0.281) (Crude Rallies as the US Expands Sanctions on Russian Oil)
Market Update
STOCK UPDATE (WEDNESDAY CLOSE): Dow 30: 41,936.54 (-698.66); Nasdaq: 19,180.66 (-298.22); S&P 500: 5,829.18 (-89.07) (Stocks Sharply Lower as a Strong US Jobs Report Signals Fed Pause)
Market Update
Short-Range Weather Forecast: Critical fire-weather concerns will continue across the Los Angeles Basin and southern California through the morning. Santa Ana winds will begin to tapper off midday Friday and into Saturday. A significant winter storm will continue to bring heavy snow and disruptive ice across much of the South
Weather
Gas prices up 4 cents this week to $3.05, down $0.03 from last year. Diesel prices up 6 cents this week to $3.56, down $0.27 from last year
Cash Prices
USDA CROP PRODUCTION: Corn production for grain is projected at 15.1 billion bushels, slightly below the previous forecast and down 1% from 2023
WASDE
CORN PLANTING PROGRESS: U.S. at 83%; Iowa at 88%; Kansas at 85%; Missouri at 87%; Texas at 92%; Ohio at 79%
US Cattle Report by National Beef Wire
Disney posts surprise profit in streaming entertainment, raises earnings forecast... Walt Disney's streaming entertainment unit posted its first profit, two quarters ahead of schedule, and the media company raised its annual earnings per share outlook as it said turnaround efforts were yielding results. (Reuters)
Market Update
COTTON PROGRESS: 54% of the cotton in the U.S. had been planted by May 22nd, compared to 37% last week and 47% last year
National Cotton Wire
AMARILLO WEATHER: Scattered showers and thunderstorms, then showers and possibly a thunderstorm after 8am. High near 52. Northeast wind 10 to 15 mph increasing to 15 to 20 mph in the afternoon. Winds could gust as high as 30 mph. Chance of precipitation is 90%. New rainfall amounts between a half and three quarters of an inch possible (NWS)
Weather
DROUGHT MONITOR: Amidst the wild and devastating weather week, drought mostly held at status quo. The West saw some improvements, and the Southern Plains saw degradations, with mostly small changes elsewhere (VIEW REPORT)
Weather
DROUGHT MONITOR: Drought coverage across the U.S. and Puerto Rico topped 40% (40.01%) for the first time since late September and for the fifth time in 2021. The lowest percentage of drought coverage across the U.S. & P.R. so far in 2021 occurred in late May (36.3%)
Market Update
DROUGHT MONITOR: It’s hot and dry in the Southwest. Exceptional drought (D4) has developed or expanded in parts of Utah and New Mexico. Meanwhile, most states in the West and Great Plains saw improvements, except for areas of Montana and Texas
Weather
DAILY EXPORT SALES: Private exporters reported sales of 128,000 metric tons of soybeans for delivery to Mexico during the 2022/2023 marketing year
Exports