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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2/10/2026
Feb 10, 2026
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1/12/2026
Jan 12, 2026
Well, the USDA report had a bit of a surprise today and not in a good way.  Not only did they increase the 2025 corn yield, from 186.0 to 186.5, they also increased Harvest Acres from 90 million to 91.3 million.  That raised the total corn production to 17.021 billion, up an additional 269 million bushels from their previous estimate.  U.S. Ending Stocks are now estimated at 2.227 bbu, vs. 2.209 in Dec.  Report trade guesses were at 1.97 bbu.
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.