Grain > Commentary > 1-26-2023

1/26/2023

Jan 26, 2023

1/26/2023
With technical indicators lining up on the bottom side of our trends and ranges, it was risk on today in corn and soybeans.  General buying was observed in most outside markets today, as well.  If corn can stabilize near the top end of its January trading range, the market may be able to push towards the futures levels traded during harvest but don't expect basis to stay neutral or firm if this happens.  The farmer has become an active seller in this price area over the past month and basis continues to become more defensive.  Volumes were decent on the weekly export sales report.  Corn came in near the middle of its trading range with 910k tonnes sold.  Soybeans were towards the high-end of its estimates at 1.146 million tonnes sold.  The USDA confirmed the sale of 106,000 tonnes of soybeans to China for the 2023/24 marketing year (new crop).
 

Read More News

6/11/2026
Jun 11, 2026
The USDA report was noneventful and now we wait for the stocks and acres report on June 30th.  25/26 corn carryout was estimated at 2.145 billion vs an average guess of 2.138 billion.  26/27 corn carryout was estimated at 1.960 billion vs an average guess of 1.947 billion. 26/27 World corn carryout was estimated at 281.22 Million Tonnes vs an average guess of 278.51.  That is up 4 Million Tonnes from the May USDA report. 
5/12/2026
May 12, 2026
Today was USDA report day.  Old crop corn carryout was pegged at 2.142 billion vs the average trade guess of 2.131 billion.  That is a 15 million bushel increase from the April report.  New crop 26/27 corn carryout was guessed at 1.957 billion vs an average trade guess of 1.933 billion.  The World old crop corn carryout was put at 296.95 million tonnes, vs an average trade guess of 296.33.
2/10/2026
Feb 10, 2026
It was USDA report day today and it turned out to be a yawner.  The markets never really reacted to the report, and the grains finished the day about where they started with corn unchanged and beans up 12 on the day.  US corn carryout was pegged at 2.127 billion bushels vs the average trade guess of 2.227 billion.  World corn carryout was placed at 288.98 MMT vs the average trade guess of 290.48 MMT.