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

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.