CFE is a progressive, farmer-owned cooperative that services local farms and rural business owners in the areas of agronomy, feed, grain and lumber. CFE has locations in communities throughout northwest Iowa, southwest Minnesota, and southeast South Dakota with administrative offices in Rock Valley and Ocheyedan, IA.
Our farmer-owners are at the core of what we do. After all, our success is their success.
Grain Comments: 12/09/2022
The main story in today’s session will likely be the release of the monthly supply and demand data. For the most part trade is only forecasting to see alterations to demand. As stated, it is believed we could see corn demand cut by up to 100 million bu and soybeans up to 50 million bu. These are on the top end of expectations though, with most expecting to see usage cut by half of these levels. This is from thoughts ongoing strength in the domestic market may help lessen export’s impact on total ending stocks. While the domestic numbers are going to be closely monitored, trade will also focus the global side of balance sheets. South America will be the most watched to see if the USDA raises crop sizes to meet what several private analysts have projected for Brazil. At the same time, we have seen decreases to Argentine crop estimates. The question is if these will offset each other in world balance sheets. Aside from South America trade will be watching to see what is done with Chinese demand as that country’s imports remain sluggish. These may improve with Covid restrictions being lifted though so the USDA may be hesitant to make changes at this time.
Have a great day!
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