Grain > Commentary > 2-16-2021

2/16/2021

Feb 16, 2021

2/16/2021
Overnight markets gapped higher and traded up double digits rather quickly.  The cold weather was likely the biggest factor as the winter wheat crop likely had some damage.  The problem with that is we won't know the extent of that damage for quite some time yet.  The cold weather has also slowed farmer movement, which is a big deal in the eastern river market.  River conditions are poor due to ice.  Railroad performance is poor due to power issues in the cold.  None of which is good for an export market that is hungry for corn.  Corn is already inverted and this won't help matters any.  Other news today was rather quiet.  It felt like we got another round of corn business done off the PNW last Friday, but nothing got reported this morning.  Export inspections were out this morning, corn and wheat were good, beans were not.  The shift from beans to corn in the export market continues and that only intensifies as we go into March.  Soybean crush was 184.65 million bushels vs. 183.1 million estimate.  That was a record for the month and the 3rd biggest for any month.
 

Read More News

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.
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.