Grain > Commentary > 12-2-2020

12/2/2020

Dec 02, 2020

12/2/2020
The overnight markets were ugly with corn down 5 and beans down 17-20.  It looked like it was going to be the day we test 11.38 Jan futures, but we didn't quite get it done as we got within a nickel.  Corn led the charge back around 9:30 am on news that China was buying April corn and wheat.  I had a couple sources tell me that business got done and took a few phone calls looking for April corn, so it must of happened.  Corn finished up 3 nearly a dime off the days lows.  Beans finished down 9 cents as there is rain on the radar in Brazil.  More rains are forecasted in central Brazil and the markets will be paying attention to amounts over the next week.  The US Dollar continues to trade lower and has now tested 30-month lows and will likely continue lower as we approach 91.  That should continue to entice more export business out of the US.                     

Read More News

9/12/2025
Sep 12, 2025
USDA report day.  Corn and beans were trading higher pre-report on thoughts of a reduction to yields.  Well....we got what we were thinking but the USDA decided to throw a twist into the mix.  The 25/26 corn yield decreased slightly less than expected by 2.1 bu to 186.7 bpa, but they gave us the largest planted acreage shift on this report in at least the last 20 years (+1.4 mil acres) spurred an increase in production to 16,814 mbu.  25/26 ending stocks were slightly lowered by 7 mbu to 2,110 mbu. 
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.