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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10/9/2026
Oct 09, 2026
USDA Report Update:
Well, the USDA gave us an absolute shocker this morning and raised the corn yield up to 181.2 bpa vs 178.5 in September.  The average trade guess was lower at 177.7 bpa.  The carryout is now up to 1.849 billion bushels vs 1.567 in September.  They raised Exports up 25 million, Feed and residual up 50 million and Ethanol up 50 million.  Corn is currently down 28 cents on this news.  This is an absolute shocker to the corn market. 
9/11/2026
Sep 11, 2026
It is USDA report day and it seemed like one of the most important reports we have had in a while.  The USDA placed corn yield at 178.5 bpa vs an average guess of 178.2.  They were in line with expectations and admitting we have an issue brewing.  This likely won’t be our lowest yield we see, but it at least drew a line in the sand for a starting point. 
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.