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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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.