05/30/2025 New Demand

On the Grains
New demand or additional demand doesn’t matter to me, but yesterday we saw flash sales of 104,000 MT of corn to Mexico and 101,096 MT to an unknown destination, both for the old crop. Export sales released today, a day late due to the holiday, are expected to be between 800,000 and 1.600 MT. Traders will react to each week’s reports from now on regarding the adjustments the USDA needs to make based on exports. Soybean sales are estimated at 150,000 to 700,000 MT, likely skewed toward the lower end of that range. Again, it’s no surprise that soybean exports are declining as Argentina continues to offer beans at prices we can’t compete with (63 cents/bu cheaper), which is typical for this time of year. US Gulf corn was quoted yesterday at six cents per bushel more than the most affordable competitor, Argentina, but still holds a six-cent advantage over Brazil, keeping us in the game yet.