Posts by Cobalt Agriculture

Planting Progress Report This week’s planting progress report exceeded the trade’s expectations. Trade estimates on corn going into the report were around 68%, and the USDA reported 70%. Soybeans came in at 52% planted, while the trade estimates were around 49%. Never underestimate what these farmers are capable of! Monster week for the top-producing corn…

Export Sales Lackluster export numbers from the USDA this morning. Soybeans for 23/24 came in below trade estimates, while corn and wheat were in line with traders estimates. China remained on the sidelines, and there were no new crop soy or corn sales. Corn July corn dropped to $4.57, or almost the session low, by…

Planting delays continue as the 6–10 day forecast is calling for above-average precipitation in the 4 largest grain producing states, IL, IA, IN, and NE.

Corn Corn futures for July dropped 5 cents to $4.67 1/2, getting closer to the session low. After some recent strong increases, prices in the corn futures market underwent a regular corrective—and maybe healthy—pullback today, marking another usual “Turnaround Tuesday” event. The maize bulls were especially cautious today due to losses in the wheat and…

Corn As anticipated, corn traded lower today. July corn finished close to the session low of $4.58 1/2, down 8 1/2 cents. Futures Analysis:  Corn futures continued to decline on Tuesday under overall pressure throughout the grain and soy markets. Though more bearish-than-expected numbers could spark stronger selling and a test of technical support, today’s price…

Planting of US #corn came in at 36% complete. That is now 6 % behind LY and 3% behind the 5-year average. US #soybeans came in at 25% complete, putting them at 5% behind LY and 4% ahead of the 5 year-average.

Corn Corn futures slipped 2 cents to $4.67 in July, approaching their session low. The market bulls have experienced a healthy negative correction, indicating that the rise can continue. The weather is favorable for corn prices in the short term, with some rain forecast in Mato Grosso do Sul and Parana next week to alleviate…

Corn – July corn closed down ¾ cent to 4.49 Throughout the session, corn futures tracked lower SRW wheat, but selling activity was kept to a minimum due to a soybean rally led by meals. Rumors that this week would see the announcement of the Sustainable Aviation Fuel (SAF) credit probably kept the market quiet in the interim.…

Corn  Corn futures for July dropped 2 cents during the session to $4.50, but they were up 7 cents for the week. Even though corn futures closed close to this week’s highs, they found it difficult to build on gains observed in the winter wheat markets. Options for May futures expired today, which probably dampened…