Grain > Commentary > 10-14-2020

10/14/2020

Oct 14, 2020

10/14/2020
China showed up on the sales today and the markets rebounded on the news.  They announced 264,000 metric ton of beans to China and 420,000 metric ton of corn to China.  Corn spreads went crazy on the news with Dec - July finishing at 9 cents carry.  That doesn't feel right with a 2.1 million carryout and an export that is front loaded with bean business through December.  Who wants the corn right away besides Ethanol when harvest is over?  The farmer is a reluctant seller at the moment on his corn crop as the bean sales covered the need for cash.  Last night harvest progress had corn at 41% and beans at 61%.  It is going quick and it looks like weather will allow that to continue for the balance of the month.  There is talk of improved chances for rain in parts of Brazil and Argentina, but current supplies remain tight.  The volatility is here to stay for a while not only in the cash market, but the spreads as well.
 

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.