Grain > Commentary > 12-20-2022

12/20/2022

Dec 20, 2022

12/20/2022
Corn and soybeans spent Tuesday reclaiming Monday's losses. Soybeans traded steady around 5 higher and held its gains going into the coffee break where a flood of buying came in at the 8:30 open. Corn was a follower. There were no official reports or sale announcements, so a very quiet day that really had no big stories, just light volume trading technical signs to a firmly higher finish. Circling back to yesterday's better-than-expected weekly export inspections report, corn shipments to date fall short of the pace needed to hit the USDA target by 186 million bushels versus 171 million bushels the previous week. Soybean inspection pace continues to slowly close the deficit to the USDA target, now short by 33 million bushels.

Corn and soybeans continue to coil/tighten within range. The tighter this pattern becomes, the bigger the breakout will be. We hit the top side of our wedge today in soybeans and trade will likely look at profit taking off of fresh length tomorrow.
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11/14/2025
Nov 14, 2025
It was USDA report day today and overall, it was bearish for both corn and beans.  Corn Yield was only reduced by .7 bpa down to 186 bpa.  The market was expecting closer to 184 bpa.  Corn production is estimated at 16.752 billion vs 16.814 billion in September.  They raised exports 100 million, which is debatable, but possible.  Ending stocks on corn were estimated at 2.154 billion bushels, which is up 44 million from September and about 29 million more than the market expected. 
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.