Dan Flynn is the writer of The Corn & Ethanol Report, a daily market letter covering grains, energies, and various global issues that are the driving force and backbone of the commodity markets. Contact Mr. Flynn at (312) 264-4374
We kickoff the day with Core PCE Prices Index MoM & YoY, Durable Goods Orders MoM, GDP Growth Rate QoQ 2nd Est, Personal Income MoM, Personal Spending MoM, Durable Goods Orders Ex Transportation MoM, GDP Price Index MoM & YoY, Core PCE Prices QoQ 2nd Est, Durable Goods Orders ex Defense MoM, GDP Sales QoQ 2nd Est, Non Defense Goods Orders Ex Air, PCE Prices QoQ 2nd Est, and Real Consumer Spending QoQ 2nd Est at 7:30 A.M., JOLT’s Job Openings, Michigan Consumer Sentiment Prel, JOLT’s Job Quits, Michigan 5 Year Inflation Expectations Prel, Michigan Consumer Expectations Prel, Michigan Current Conditions Prel, and Michigan Inflation Expectations Prel at 9:00 A.M., and Baker Hughes Oil & Total Rig Counts at 12:00 P.M.
USDA’s 2024 Tenure, Ownership, and Transition of Agriculture (TOTAL) survey shows that rented farmland remains a major pillar of US agriculture, with more than 2.1 Mil landlords renting out 347.8 Mil acres and receiving $34.1 Bil in rent. Non-operating landlords accounted for 87% of all landlord entities and controlled 79% of rented acres, confirming that a large share of US farmland is is owned by people who do not actively farm. Regionally, the Plains held the largest share of related acres at 149.4 Mil, while the Midwest had the largest number of landlords at nearly 800,000. Privately owned arrangements accounted for the largest share of rented land among non-operating landlords, followed closely by trusts and family legal entities. The report also shows that farmland is a long-term, tightly held asset: most owners acquired land before 2014, 95% of non-operating landlord acres were fully paid for,and only a small share is expected to be sold over the next five years, with most transfer likely to occur through wills and Trusts.
Sorghum Basis Unmoved; Future Chinese Demand Hinges on March/April Trade Talks:
Central Plains cash sorghum bids recovered slightly after the release of USDA’s January WASDE, but have since done nothing. Spot bids in Kansas remain deflated at $1.15 under May CBOT corn. Chinese demand has been absent. The future US sorghum demand hinges upon whether the US can patch together a deal that includes additional Chinese sorghum purchases in the spring/summer. Plains sorghum will continue to displace 10-15 Mil Bu of corn used for ethanol production at ethanol plants in TX & KS each month. Cattle feeding operations will reach for low-cost sorghum over corn. Yet the war in Iran is all that matters today. Yet, it’s difficult to paint a fundamentally bullish picture for US & global grain markets unless China returns to secure US sorghum for livestock feed. Abundant US sorghum supplies will dominate.
Ag Resources (ARC) estimates March 1st US corn stocks at a record large 9.16 Bil Bu, up 1,008 Mil Bu year-over-year. Total disappearance is calculated at 4.130 Mil Bu, a record, which places March 1st stocks/use just fractionally above last year. However, the rate of disappearance has waned since mid-winter as exports plateau and as ethanol grind falls short of the pace needed to meet the USDA’s annual forecast.
Have A Great Trading Day!
Contact me directly with any questions or open a trading account at 1-888-264-5665 or dflynn@pricegroup.com.
China’s Import Silence is Deafening. The Corn & Ethanol Report 03/13/2026
We kickoff the day with Core PCE Prices Index MoM & YoY, Durable Goods Orders MoM, GDP Growth Rate QoQ 2nd Est, Personal Income MoM, Personal Spending MoM, Durable Goods Orders Ex Transportation MoM, GDP Price Index MoM & YoY, Core PCE Prices QoQ 2nd Est, Durable Goods Orders ex Defense MoM, GDP Sales QoQ 2nd Est, Non Defense Goods Orders Ex Air, PCE Prices QoQ 2nd Est, and Real Consumer Spending QoQ 2nd Est at 7:30 A.M., JOLT’s Job Openings, Michigan Consumer Sentiment Prel, JOLT’s Job Quits, Michigan 5 Year Inflation Expectations Prel, Michigan Consumer Expectations Prel, Michigan Current Conditions Prel, and Michigan Inflation Expectations Prel at 9:00 A.M., and Baker Hughes Oil & Total Rig Counts at 12:00 P.M.
USDA’s 2024 Tenure, Ownership, and Transition of Agriculture (TOTAL) survey shows that rented farmland remains a major pillar of US agriculture, with more than 2.1 Mil landlords renting out 347.8 Mil acres and receiving $34.1 Bil in rent. Non-operating landlords accounted for 87% of all landlord entities and controlled 79% of rented acres, confirming that a large share of US farmland is is owned by people who do not actively farm. Regionally, the Plains held the largest share of related acres at 149.4 Mil, while the Midwest had the largest number of landlords at nearly 800,000. Privately owned arrangements accounted for the largest share of rented land among non-operating landlords, followed closely by trusts and family legal entities. The report also shows that farmland is a long-term, tightly held asset: most owners acquired land before 2014, 95% of non-operating landlord acres were fully paid for,and only a small share is expected to be sold over the next five years, with most transfer likely to occur through wills and Trusts.
Sorghum Basis Unmoved; Future Chinese Demand Hinges on March/April Trade Talks:
Central Plains cash sorghum bids recovered slightly after the release of USDA’s January WASDE, but have since done nothing. Spot bids in Kansas remain deflated at $1.15 under May CBOT corn. Chinese demand has been absent. The future US sorghum demand hinges upon whether the US can patch together a deal that includes additional Chinese sorghum purchases in the spring/summer. Plains sorghum will continue to displace 10-15 Mil Bu of corn used for ethanol production at ethanol plants in TX & KS each month. Cattle feeding operations will reach for low-cost sorghum over corn. Yet the war in Iran is all that matters today. Yet, it’s difficult to paint a fundamentally bullish picture for US & global grain markets unless China returns to secure US sorghum for livestock feed. Abundant US sorghum supplies will dominate.
Ag Resources (ARC) estimates March 1st US corn stocks at a record large 9.16 Bil Bu, up 1,008 Mil Bu year-over-year. Total disappearance is calculated at 4.130 Mil Bu, a record, which places March 1st stocks/use just fractionally above last year. However, the rate of disappearance has waned since mid-winter as exports plateau and as ethanol grind falls short of the pace needed to meet the USDA’s annual forecast.
Have A Great Trading Day!
Contact me directly with any questions or open a trading account at 1-888-264-5665 or dflynn@pricegroup.com.
Thanks,
Dan Flynn
Questions? Ask Dan Flynn today at 312-264-4374