12/10/2021

Dec 10, 2021


12/10/2021
Some good upwards momentum after the coffee break was stemmed off only 15 minutes into the session.  Highs for the day were set early with trade seemingly uninterested in doing much of anything.  Corn traded 2 cents and soybeans 6 cents for the large majority of the slow day.  This could be the theme for trade for the remainder of the year unless we get some type of suprise news before the final production report in January.  Processors and end-users have backed off their cash bids over the past week and appear to be covered into the new year.  Corn is hanging around the top end of a six-month trading range, hitting my most recent futures target for pricing some grain.  Soy oil and meal are taking turns supporting soybeans and I am leaving my target in place in the 1280-1290 area on the January 22 contract to price some beans out of the bin or on storage in town.  We traded within 4 cents of the 1280 mark today and with a big crop likely to be harvested in Brazil over the next couple months, best to not give up quarters while trying to grab nickels.  Weekly grain closes: cash corn 6 cents higher, new crop corn 1 lower; cash soybeans unchanged on the week and new crop soybeans up 14 cents.

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Aug 21, 2025
Today the market ran higher on rumors for positive SRE announcements coming soon.  Bean oil was up over $2.  Beans finished the day up 20 cents at 10.56 Nov futures.  There is a chance we could make a run at the 10.74 Nov highs from back in June.  If we get there, I am a seller.  Bean basis remains in the garbage, so a run higher in futures doesn't help that either.  We still don't have a trade deal, so I think any rally is short lived at this time. 
Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off. 
Aug 12, 2025
The USDA report today didn't treat the corn market very well.  Both corn acres and yield were higher the result has corn carryout over 2.1 billion bushels.  Corn yield was pegged at 188.8 bpa vs an estimate of 184.29 bpa.  How high is 188.8?  Well…the previous record was 179.3.  Planted corn acres were put at 97.3 million.  Total corn production is estimated at 16.742 billion bushels, which is 763 million more than the report estimates.