Grain > Commentary > 12-14-2022

12/14/2022

Dec 14, 2022

12/14/2022
Corn ends the day lower on the front months and higher starting at the December 2023 contract and further out.  Soybeans settled mostly unchanged to 3 cents higher, with just a few months closing fractional to 1 lower.  With some solid export sale announcements and shipment pace over the past couple weeks, soybeans have found a bid near the top end of our 6-month trading range but have yet to mount a charge towards the $15 handle.  Corn was softer early session but spec buying showed up shortly after the morning break.  Overall, a very bland day of featureless trade.  With a lack of market moving headlines or changes in fundamentals, trade is focused on technicals.  Weekly ethanol showed output down 16,000 barrels/day to 1.06 mln bpd and stocks increasing 1.15 mln barrels to 24.41 mln bbls.

PFT.png

Read More News

8/21/2025
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. 
8/15/2025
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. 
8/12/2025
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.