Grain > Commentary > 11-25-2020

11/25/2020

Nov 25, 2020

11/25/2020
Reminder:  Glacial Plains will be closed on Thursday and Friday, so make sure you get everything you need covered today.  There are no markets on Thursday, but there is a short day of trade on Friday until noon.  If you would like to get a sell order working for Friday's trade please call us today.  Today felt like typical holiday trade in the grain markets.  Very little new information and the market was a tad weaker on profit taking.  There was some chatter overnight about China buying more beans, which caused the March contract to put in a new high at 12.00.  Jan futures did not get back the highs, but instead fell 2 cents short at 11.98.  We instantly turned the market into red figures on the 8:30 open and traded down 4-7 cents the entire session on both corn and beans.  Monday is month end, which typically means we could see another round of profit taking as funds square up some of their positions.  The question then becomes, do we get that China sale announcement and does new money show up to start out December.  The volatility is going to continue, so keep those seat belts fastened.  Have a great Thanksgiving!  
 

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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. 
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.