Grain > Commentary > 10-3-2022

10/3/2022

Oct 03, 2022

10/3/2022
The USDA started the day off an announcement of 110,000 MT of beans for unknown for 2022/23.  That might have helped beans get a little bit of their losses back from Friday's report.  Corn traded up a dime on the overnight, but pulled back to only 3 higher on the day.  After a friendly corn report on Friday, it would have been nice to see new highs today, but it didn't happen.  Harvest progress will be out tonight as it is in full swing in the north this week.  Corn harvest is expected to come in at 22% complete vs. 12% last week. Soybeans are expected to be at 20% vs. 8% last week. Yields remain variable as some are good and some not so good up here depending on rain fall and soil type.  Overall, I would say we are better than expected here.  The outside markets are seeing some movement today with the DOW up over 800 points, S&P up over 100 points, crude up close to $4/barrel, and the U.S. dollar down 454 points at 1:55 PM. 
 

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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. 
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.