Grain > Commentary > 10-29-2021

10/29/2021

Oct 29, 2021

10/29/2021
Grains shrugged off early weakness and corn goes into the weekend after trading strongly for close to the entirety of the day session, setting fresh highs for the day shortly before the closing bell.  Soybeans gain back yesterday’s losses after buying support spilled over from corn and wheat.  The Spring Wheat front month has now set new contract highs in 8 of the last 10 trading days.  Oats continue to climb higher into uncharted territory, setting new all-time highs nearly every day.  No one seems to have a solid understanding of the sudden surge in the corn market other than technical buying to stay competitive with small grains and buying acres for next year.  The USDA made 3 sale announcements at 8am this morning, all for the 2021-22 marketing year; 279,415 tonnes of corn to Mexico, 132,000 tonnes of soybeans to unknown, and 222,350 tonnes of soybeans to unknown.  It’s good to see some export sales but we need to see a lot more for those to become more meaningful and not just routine business.  Weekly cash closes: corn up 30 cents and soybeans 22 cents higher.
 

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.