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

7/10/2026
Jul 10, 2026
USDA report day was slightly friendly to the grain markets.
Corn:
25/26 corn carryout was pegged at 2.020 billion bushels vs an average guess of 2.073 billion.  The main changes to this year’s balance sheet had feed and residual usage up 150 million bushels while they decreased ethanol by 25 million bushels.  Corn Yield for next year was estimated at 183 bushel per acre, which was about as expected. 
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.