Grain > Commentary > 10-13-2020

10/13/2020

Oct 13, 2020

10/13/2020
We had one sale announcement this morning, which was 110,000 metric tons of corn to Mexico.  It felt a bit disappointing that there were no China sales announced as they came out of their holiday.  Corn and beans bounced some today after yesterday's correction, but I wouldn't be surprised to see a bit more of a correction to the downside.  The 10.20 futures area looks to be a short-term target area to the downside, with 9.80 longer term.  When the funds are this long and everyone is one side leaning bullish it seems to change in a hurry.  Like I said before be careful and expect lots of volatility thru the winter in the soybean market.  We will get harvest progress tonight as we are expecting beans at 59% harvested and corn at 39% harvested.  It’s going quick and weather looks like it will allow for more harvest to get completed.  It looks like we are in for a bit of a cool down for the next two weeks. 
 

Read More News

9/11/2026
Sep 11, 2026
It is USDA report day and it seemed like one of the most important reports we have had in a while.  The USDA placed corn yield at 178.5 bpa vs an average guess of 178.2.  They were in line with expectations and admitting we have an issue brewing.  This likely won’t be our lowest yield we see, but it at least drew a line in the sand for a starting point. 
7/10/2026
Jul 10, 2026
USDA report day was slightly friendly to the grain markets.
Corn:
25/26 corn carryout was pegged at 2.020 billion bushels vs an average guess of 2.073 billion.  The main changes to this year’s balance sheet had feed and residual usage up 150 million bushels while they decreased ethanol by 25 million bushels.  Corn Yield for next year was estimated at 183 bushel per acre, which was about as expected. 
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.