Grain > Commentary > 10-15-2021

10/15/2021

Oct 15, 2021

10/15/2021
Strong moves higher in wheat and oats, along with some technical support on the charts, lift corn and soybeans to finish the week.  Trade was lower at the overnight open but never looked in the rearview once we were back in the green.  The USDA announced 3 separate soybean sales for the 2021/22 marketing year at 8am this morning; 396,000 tonnes to unknown, 326,750 tonnes to unknown, and 132,000 tonnes to China for a total of 31.4 million bushels.  Net export sales for last week topped one million tonnes for corn and soybeans and were mid-range for trade estimates.  Last week netted 1.04 million tonnes of corn and 1.15 million tonnes of soybeans sold for export.  An unusually information packed Friday also included the NOPA crush numbers for September.  Bushels crushed was reported at 153.8 million vs 155 million estimated and soyoil stocks came in at 1.684 billion barrels vs 1.663 estimated.  With this morning’s large export sale announcement, the market wasn't concerned with these slightly negative numbers.  Current forecast looks like we should have a big harvest weekend across the western corn belt.  

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10/9/2026
Oct 09, 2026
USDA Report Update:
Well, the USDA gave us an absolute shocker this morning and raised the corn yield up to 181.2 bpa vs 178.5 in September.  The average trade guess was lower at 177.7 bpa.  The carryout is now up to 1.849 billion bushels vs 1.567 in September.  They raised Exports up 25 million, Feed and residual up 50 million and Ethanol up 50 million.  Corn is currently down 28 cents on this news.  This is an absolute shocker to the corn market. 
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.