Grain Update - January 2023

Jan 04, 2023


Grain Bin

January 2023 Update.

Hopefully everyone has enjoyed the holiday season and the nice weather the week between Christmas and New Year’s. It helped make up for the blizzard and cold before Christmas. Usually it seems like the markets lag around the holidays, but we’ve seen some recent highs and volatility over the past few weeks that has resulted in another round of selling before the new year. 

The December 9th WASDE estimated United States corn ending stocks at 1.25 billion bushels with a stocks
/use ratio of 8.9% vs 9.2% this time last year. With exports lagging so far, traders generally expect the ending stocks figure to grow over time. Soybean ending stocks are projected at 220 million bushels, with a 5% stocks/use, compared to 6% at this time last year. Price will be dictated in the coming months by how South America’s crop finishes out, as their new crop will hit the market in Feb/March 2023. 

If you haven’t already, get those bins cored, and start looking at targets for your stored grain and the upcoming 2023 crop. If you have any marketing questions please feel free to give me a call at 608.634.3184.

Jory Bossuyt

Grain Lead & Merchandising
 

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