Grain > Commentary > 11-3-2022

11/3/2022

Nov 03, 2022

11/3/2022
Corn and soybeans both lower after a day that lacked fresh news. Corn found technical support at the 50-day moving average on multiple charts and soybeans flirted with either side of their 200-day moving average for the second consecutive session. This week’s export sales report showed corn sales still running just above 50% of last year’s pace (and under 50% of the total needed weekly to meet the USDA forecast) with 372k tonnes sold. Domestic demand for corn remains strong but export demand is stagnant/slow. Soybean sales were average for this time of year with 830k tonnes sold. The shipping situation on the river has improved following some rains that have raised the water level. Adding some pressure to the market today was Russia announcing they would abandon an area of Ukraine.

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7/10/2026
Jul 10, 2026
USDA report day was slightly friendly to the grain markets.
Corn:
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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.