Corn

Weekly EIA data shows ethanol production at 1.049 million barrels per day for the week ending September 13. This is a decrease of 31 thousand barrels per day from the previous week, suggesting a decline in corn usage. Ethanol stocks increased by 71 thousand barrels, reaching nearly 23.8 million barrels. Refinery ethanol input rose by 16 thousand barrels per day to 908 thousand barrels per day, while ethanol exports decreased by 26 thousand barrels per day to 151 thousand barrels per day.

The Weekly Export Sales report will be released on Thursday, with trader estimates for 2024/25 corn sales ranging from 550 thousand tons to 1.4 million tons, while sales for the 2025/26 crop year are expected to be between 0-50 thousand tons.

Brazil's corn exports for September are projected to total 6.63 million tons, slightly up from ANEC's previous week's forecast of 6.47 million tons. Last year, Brazil exported 6.42 million tons in September.

Corn futures remained flat in the trading session on September 18, with the settlement price at 215.75 cents per bushel.

Soybeans

The USDA will update the Export Sales data on Thursday, with a Reuters survey of analysts predicting figures between 0.5 and 1.6 million tons for the 2024/25 crop year. Orders for the 2025/26 crop are expected to range from 0 to 50 thousand tons. Soybean meal sales are anticipated to be between 50 thousand and 650 thousand tons in total orders for the week of September 12. Soybean oil is expected to be in the range of 0 to 20 thousand tons.

Brazil's ANEC projects soybean exports for September to total 5.83 million tons, up from the previous week's estimate of 5.51 million tons. In September 2023, this figure reached 6.4 million tons.

Soybean prices rebounded in the trading session on September 18, with the settlement price for the November 2024 futures contract reaching 1,014 cents per bushel, an increase of 0.8% compared to the previous session.

Wheat

The Weekly Export Sales report from FAS, with analysts expecting to see 2024/25 wheat sales ranging from 300 thousand to 650 thousand tons for the week of September 12. Sales for the 2025/26 crop year are estimated to be between 0 to 50 thousand tons for that week.

FranceAgriMer expects French soft wheat exports to all destinations outside the EU to be 4 million tons, down 3.5 million tons from last month's figure, with shipments within EU countries expected to decrease by 0.5 million tons from the previous month to 6 million tons. With the smaller total production, inventory levels are projected to fall to 2.74 million tons, down 0.3 million tons from the previous estimate.

Wheat prices remained unchanged in the trading session on September 18, with the settlement price for the December futures contract at 575.75 cents per bushel.

Source: Barchart