Grain > Commentary > 10-11-2021

10/11/2021

Oct 11, 2021

10/11/2021
The overnight session offered little for excitement to start our week.  Today's trade was all about positioning ahead of tomorrow's WASDE report.  Weakness in soybeans as the carry-in will get larger and it feels like the size of the US crop, whether it’s in yield or acres, could also get larger.  Soybeans finished last week on a weak note and selling followed through today.  The November contract finished the day well below the 1240'0 support level, we could see a test of the 1200'0 and 1184'0 support levels in the near future.  A couple cents better in corn today with money positioning on the long side ahead of tomorrow's report.  Corn carry-in will get larger tomorrow but the question will be 2021 corn production and if the USDA changes it.  Federal offices were closed for holiday today so we will get our USDA harvest progress report, export flash sales (if any), and a glut of other information to trade tomorrow.

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9/12/2025
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8/21/2025
Aug 21, 2025
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8/15/2025
Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off.