Grain > Commentary > 11-11-2021

11/11/2021

Nov 11, 2021

11/11/2021
Some indecisive action during a quieter day of trade and smaller ranges for corn and soybeans.  Corn traded 10 higher early in the session and then faded into mid-day to finish unchanged-1 lower.  Soybeans traded double-digits higher early in the day session and managed to post modest gains on the day as a beneficiary of positive crush margins.  Spring wheat made a big charge at the 8:30am open, trading around 20 cents higher, and closed the day 9-10 higher.  Fund interest and activity continues to push water uphill in support of the grains and somewhat ignore fundamentals and outside influences such as a lack of export business, comfortable ending stocks, ideal conditions in South America, and a sharp 2-day rally in the dollar.  USDA offices were closed for Veterans' Day today so our weekly export sales and any flash sales (if applicable) will be posted tomorrow morning.  It feels like inflation is priced into our commodities at this point when comparing current market levels on the board to our carryout inventories in grains to the historical data.   

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.