Grain > Commentary > 10-26-2022

10/26/2022

Oct 26, 2022

10/26/2022
Corn and soybeans tried to be higher early in the session but drifted back to unchanged/slightly lower throughout the day. Corn finished 1-2 lower and soybeans fractionally mixed on another day of extremely limited news with nothing solid to provide a direction. November beans looked like they were going to challenge the 1400'0 level but backed away quickly. On the board, resistance appears to building at 700'0 for corn and 1400'0 for soybeans. Weekly ethanol numbers showed higher than expected increases with production up 17,000 barrels/day to 1.03 mln bpd and stocks increasing by 447,000 barrels to 22.29 mln bbls total. Marketing year to date use of corn for ethanol is estimated at 678 million bushels, down 8% from the previous year and is about 20 million bushels below the pace needed to meet the USDA forecast of corn for ethanol use.

Oats are trading nearly $5/bu off of their all time highs set in April and back to levels traded in late 2020. Corn and soybeans are currently about $2.50/bu higher across this same timeframe. The oat trade has been viewed as indicator for other markets but the market has been silent on this.
oat-chart.png

Read More News

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. 
1/12/2026
Jan 12, 2026
Well, the USDA report had a bit of a surprise today and not in a good way.  Not only did they increase the 2025 corn yield, from 186.0 to 186.5, they also increased Harvest Acres from 90 million to 91.3 million.  That raised the total corn production to 17.021 billion, up an additional 269 million bushels from their previous estimate.  U.S. Ending Stocks are now estimated at 2.227 bbu, vs. 2.209 in Dec.  Report trade guesses were at 1.97 bbu.
11/14/2025
Nov 14, 2025
It was USDA report day today and overall, it was bearish for both corn and beans.  Corn Yield was only reduced by .7 bpa down to 186 bpa.  The market was expecting closer to 184 bpa.  Corn production is estimated at 16.752 billion vs 16.814 billion in September.  They raised exports 100 million, which is debatable, but possible.  Ending stocks on corn were estimated at 2.154 billion bushels, which is up 44 million from September and about 29 million more than the market expected.