Grain > Commentary > 11-24-2020

11/24/2020

Nov 24, 2020

11/24/2020
Grain markets took a beating overnight before battling back and gaining all the losses back throughout the day.  As I said before you just can't keep a good thing down and we still have a good thing going.  It was pretty impressive to watch the markets do what they did today.  It feels like part of the grains want to trade a covid scare, but outside markets are not telling us that story, as continued positive vaccine news has the wall street money's hopes up.  Crude oil was higher, the DOW broke 30,000 for the first time and gold was lower which are all signs of a happy market.  Tomorrow we have a full day of markets.  Thursday the markets are closed.  Friday is a short day of trade, which closes at noon.  Glacial Plains is closed both Thursday and Friday this year, so if you would like to work a sell order for Friday's trade make sure you get those working by tomorrow at the close of business.    
 

Read More News

9/11/2026
Sep 11, 2026
It is USDA report day and it seemed like one of the most important reports we have had in a while.  The USDA placed corn yield at 178.5 bpa vs an average guess of 178.2.  They were in line with expectations and admitting we have an issue brewing.  This likely won’t be our lowest yield we see, but it at least drew a line in the sand for a starting point. 
7/10/2026
Jul 10, 2026
USDA report day was slightly friendly to the grain markets.
Corn:
25/26 corn carryout was pegged at 2.020 billion bushels vs an average guess of 2.073 billion.  The main changes to this year’s balance sheet had feed and residual usage up 150 million bushels while they decreased ethanol by 25 million bushels.  Corn Yield for next year was estimated at 183 bushel per acre, which was about as expected. 
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.