Friday USDA report to set tone for 2025 crop year | Weekly Commodity Market Update
This week Will and Ben dive into the upcoming opening crop balance sheet for the 2025 season.
Market recap (changes on week as of Friday's close):
» March 2025 corn up $.09 at $5.05
» December 2025 corn down $.03 at $4.70
» March 2025 soybeans up $.21 at $10.57
» November 2025 soybeans up $.07 at $10.59
» March soybean oil up 0.74 cents at 46.81 cents/lb
» March soybean meal down $1.10 at $294.80/short ton
» March wheat up $.10 at $5.90
» July 2025 wheat down $.08 at $6.17
» March 2025 cotton down 1.03 cents at 66.08 cents/lb
» December 2025 cotton down $0.24 at 69.15 cents/lb
» October WTI Crude Oil down $0.49 at $70.22/barrel
Weekly highlights:
Consumer Sentiment declined significantly in February to 64.7 vs 71.7 in January and below expectations of 68.0.
US crude oil stocks increased 195 million gallons on the week- the four straight week. US gasoline stocks were mostly flat on slightly lower weekly demand. Distillate stocks were down 86 million gallons.
US ethanol production increased just slightly to 319 million gallons- up from 218 million last week but matching the volume this time last year. Ethanol ending stocks were up 22 million gallons and are 3% higher than last year.
The National Oilseed Processors Association reported their members crushed 200.4 million bushels in January- a new record for January, but below expectations. The implied soybean oil demand number was bullish despite a bearish crush report.
Grain and oilseed export sales were neutral on the week with corn sales of 57.2 million bushels, soybean sales of 17.6 million bushels, grain sorghum at 870,00 bushels, and all wheat sales at 19.6 million bushels. Soybean oil sales came in above all expectations after being negative the week prior.
Cattle on Feed in as of February 1 was reported at 11.716 million head- 99.3% of last year. The report was seen as neutral to slightly bullish with both placements and marketings coming in higher than last year.
Open interest in futures and options contracts of grains and oilseeds was up 1.5% week over week with producer and merchants increasing their net short position 3.4% and money managers increasing their net long position a combined 39,366 contracts- all of which were nearly exact opposites of the week prior.
US grain and oilseed export inspections were all as expected today although down week over week for corn and up week over week for soybeans and total wheats.
Topics:
» Market recap
» USDA balance sheet out on Friday
» A record oilseed crush falls below expectations
» The impact of dropping consumer sentiment
» Cattle on feed's impact to feed grains
» 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.
