Grain > Commentary > 2-17-2022

2/17/2022

Feb 17, 2022

2/17/2022
Soybeans breached 1600'0 for the first time since a week ago and corn ventured into the 650's.  After a strong overnight session, the 8:30 market open saw a fair amount of profit taking and soybeans were not able to hold above 1600'0 level.  We spent a majority of the day session in two-sided trade until some strength was, again, observed over the last hour of trade and we went into the close with corn and soybeans both firmly 2-5 cents higher on the board today.  March options going into expiration tomorrow and feels like the fund and spec money is possibly playing opossum going into the weekend and 1600'0 has suddenly become an important spot on the soybean charts.  The USDA confirmed a sale at 8 a.m. this morning: 120,000 tonnes of soybeans for delivery to unknown in the 2021/22 marketing year.  Weekly export net sales were mid-range of expectations for old crop corn and soybeans with 820k tonnes of corn and 1.362 mln tonnes of beans sold.  As expected, after last week's string of sales announcements, new crop soybeans had a big week with 1.526 mln tonnes sold.  The market remains on edge with the Ukraine/Russia situation continuing to develop and trade speculates on how it may possibly affect the physical corn and soybean trade.
 

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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.
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.