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.

drought-monitor.png

Read More News

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.
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.