Grain > Commentary > 12-26-2023

12/26/2023

Dec 26, 2023

Corn and soybeans start the final week of 2023 in a positive fashion.  Opening calls for today were talking lower for grains after rains materialized in Brazil over the long weekend.  Following the 8:30am hard open, corn traded higher for a majority of the session with the March contract ending the day 7 cents higher and just fractionally above its 20-day moving average.  Soybeans began the day bouncing back and forth across unchanged and finally sustained a rally after the mid-day point of the session and 6-13 cent gains on the day.  The January contract now has solid footing above the 1300 level, once more.  Most market spaces enjoyed higher trade today. 

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5/12/2026
May 12, 2026
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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. 
1/12/2026
Jan 12, 2026
Well, the USDA report had a bit of a surprise today and not in a good way.  Not only did they increase the 2025 corn yield, from 186.0 to 186.5, they also increased Harvest Acres from 90 million to 91.3 million.  That raised the total corn production to 17.021 billion, up an additional 269 million bushels from their previous estimate.  U.S. Ending Stocks are now estimated at 2.227 bbu, vs. 2.209 in Dec.  Report trade guesses were at 1.97 bbu.