10/5/2021

Oct 05, 2021


10/5/2021
A strong double-digit bounce in soybeans was fueled by sharp rallies in soybean and Malaysian palm oil, today.  After making fresh lows for the move, soybeans key reversed higher today.  Corn tried to put together some strength throughout the day, trading its daily highs around the midpoint of the session, from that point, faded into the close.  Corn was feeling the pressure of a fast harvest after crop progress showed corn 29% harvested, well above the 22% 5-year average for this week.  Over the past 6 trading days, corn has struggled to trade and settle above the 50 day moving averages.  Yield reports continue to pop up from across the grain belt and, so far, there still very little evidence that the USDA's yield estimates are too big.  Some private analysts have started increasing their own yield estimates slightly.  For now, the USDA estimates of 176.3 for corn and 50.6 for soybeans are within reach.  Export inspections for corn and soybeans picked up pace again last week with 809k tonnes of corn (636k tonnes week prior) and 844k tonnes of soybeans (485k tonnes week prior) were inspected last week.  Continue to use these rallies and solid bounces like we saw in soybeans today to price bushels in town.  

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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. 
May 12, 2026
Today was USDA report day.  Old crop corn carryout was pegged at 2.142 billion vs the average trade guess of 2.131 billion.  That is a 15 million bushel increase from the April report.  New crop 26/27 corn carryout was guessed at 1.957 billion vs an average trade guess of 1.933 billion.  The World old crop corn carryout was put at 296.95 million tonnes, vs an average trade guess of 296.33.
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.