1/10/25: Corn ending stocks take another large cut down to 1.54 billion bu from December numbers of 1.74 billion.  Corn yield drastically cut from 183.1 to 179.3 lowering production from 15.143 billion bu to 14.867 billion bu.  1.54 billion bu was the lowest estimated expectation from analysts and Corn futures are reacting as you would expect up 10-14 cents and testing the $4.71 resistance level.  Wheat ending stocks were raised from 1.421 to 1.569 as expected, winter wheat seedings were 34.115 towards the higher end of expectations and higher than the 33.39 from 2024.  Soybean ending stocks lowered as well from .47 to .38 on this report.  Soybeans up 10-15 cents on the bullish leaning report, wheat up 1-2 trying desperately to follow the fun in row crops.  Wheat by class ending stocks raised HRW from 370 to 384, HRS held at 198 and SWW was lowered from 80 to 70.    

US Dollar higher again today, crude oil up $3.  Poor weekly exports for all commodities reported today.  Corn exports 445K MT main buyers Columbia Japan and Mexico.  Wheat sales totaled 111K MT led by SWW (59K) HRS (35K) HRW (18K).  Main buyer was South Korea likely SWW for feed wheat.  Soybean sales totaled 289K MT.  Main buyers were the Netherlands, China, and Indo.  696K MT were cancelled out from unknown destination.  Weak exports and a stronger dollar have wheat down will keep the lid on wheat prices for the foreseeable future.

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