Grain > Commentary > 11-22-2022

11/22/2022

Nov 22, 2022

11/22/2022
An extremely quiet and slow-moving trade day for grains and most other commodities with many market participants already on holiday.  Yesterday's weekly export inspections report was still showing bland numbers for corn at 495k tonnes inspected and average volume for soybeans at 2.329 million tonnes inspected.  With any domestic news or headlines lacking to provide market direction, traders are watching crop conditions and weather in Argentina and Brazil closely.  For those of you with basis-fixed December corn contracts, this week's light volume may give us an opportunity to roll out those contracts within a few cents of even.  With the bulk of the volume in corn moving to the Mar 23 contract, spreads off the December have tightened and we have a few days before we hit our deadline.  At the close today, you can roll your December basis out to either the March or May at the cost of 3 cents. 

Reminder: Glacial Plains will be closed Thursday and Friday, November 24-25 for Thanksgiving.
 

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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.