Grain > Commentary > 11-2-2020

11/2/2020

Nov 02, 2020

11/2/2020
Finally, election day is tomorrow, so we can get that unknown out of the way and you can get your radio station back with less ads.  The market feels nervous yet comfortable at this point.  Grains traded down 5-10 overnight, but battled back this morning before finishing the day slightly lower.  Brazil's planting pace has rapidly increased after recent rains helped suit planting conditions.  Overall demand remains strong as harvest should finish this week.  We will get an updated harvest progress tonight.  Estimates have corn at 83% and beans at 91% complete.  Farmer selling has slowed since the beginning of last week with the drop in the futures.  Basis has improved in the meantime as ethanol starts to look for corn as movement slows down off the combine.  Other news is rather light as the next USDA report is not until next Tuesday November 10th. 
 

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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. 
5/12/2026
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.
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.