Grain > Commentary > 10-28-2020

10/28/2020

Oct 28, 2020

10/28/2020
Today was correction day as it was risk off day in grains, energies and stocks.  Corn held the 4.00 support level, but will it hold tonight and tomorrow?  The next 48 hours will be important to see how these charts shake out.  The big question today is, is it over?  I doubt it's over.  This is a healthy correction for the markets and it was overdue.  We need to shake the tree every once in a while.  Now it's a matter of how long it lasts and how low we can go.  Covid headlines are back in a big way as we are setting records on new cases.  The election is next Tuesday, which is a major concern and unknown.  There is a lot of money moving to the sideline at the moment, which shouldn't be a surprise.  Let’s see what happens tomorrow and the balance of the week.
 

Read More News

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. 
9/12/2025
Sep 12, 2025
USDA report day.  Corn and beans were trading higher pre-report on thoughts of a reduction to yields.  Well....we got what we were thinking but the USDA decided to throw a twist into the mix.  The 25/26 corn yield decreased slightly less than expected by 2.1 bu to 186.7 bpa, but they gave us the largest planted acreage shift on this report in at least the last 20 years (+1.4 mil acres) spurred an increase in production to 16,814 mbu.  25/26 ending stocks were slightly lowered by 7 mbu to 2,110 mbu. 
8/21/2025
Aug 21, 2025
Today the market ran higher on rumors for positive SRE announcements coming soon.  Bean oil was up over $2.  Beans finished the day up 20 cents at 10.56 Nov futures.  There is a chance we could make a run at the 10.74 Nov highs from back in June.  If we get there, I am a seller.  Bean basis remains in the garbage, so a run higher in futures doesn't help that either.  We still don't have a trade deal, so I think any rally is short lived at this time.