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Gary's Blog 02/11/26 12:52:53 PM
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2-11-26
It was a mixed day on the CBOT with futures on both sides of unchanged throughout the session. Soybeans refuse to break despite the lack of fresh export sales announcements. So far, we haven’t seen any evidence that China is willing to buy another 8mmt as mentioned by the president. There may be more going on behind the scenes than what the public knows. Corn’s trade range has really tightened up as its found a home around the 4.30 Mar level. Now that the February crop report is behind us, we are at a lull for fresh grain news. It’s too early to talk planting weather here in the states and the March acreage report is still a month and half away.
2-10-26
Report
Carryout (Billion bushels) 25-26
Feb Avg Est
Corn 2.127 2.227
Beans .350 .347
Wheat .931 .918
Per usual the February report didn’t hold any surprises. The world is still well supplied with grain noted by the lofty carryout numbers. Markets are back to trading pre-report levels with beans up 9-11 cents, corn around unchanged, and wheat 1-2 cents lower. The Brazilian bean crop production number was increased to a monster 180mmt. Traders will be focusing on “new” China demand per Trumps tweet otherwise basis/cash flow needs will have to do the heavy lifting.
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