Grain > Commentary > 12-13-2022

12/13/2022

Dec 13, 2022

12/13/2022
Corn and soybeans traded almost exclusively higher on Tuesday.  After trading steady at 2 cents higher, money quickly flowed into the long side of corn, where the March contract traded 660'0 before fading back to just below unchanged.  Soybeans re-gained most of Monday's losses, even trading near 3-month highs before settling 8-19 cents higher on the day.  The USDA announced a soybean sale this morning of 140,000 tonnes for delivery to unknown during the 2023/2024 marketing year.  It is estimated that China needs to purchase an additional 1.5 million tonnes of soybeans for shipment in January to bridge the gap between U.S. supply and a fresh Brazil soybean crop.  After figuring in the data in yesterday's weekly export inspections report, corn shipment pace is 171 million bushels short of the USDA target versus 162 million the previous week.  Soybeans mostly maintained their pace, now 36 million bushels shy of the pace needed versus 34 million bushels the week prior.

outlook.png

Read More News

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.
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.