Grain > Commentary > 4-12-2021

4/12/2021

Apr 12, 2021

4/12/2021
No other way to explain trade today besides there was sellers and no buyers.  Corn was slightly higher and beans weaker overnight but a large liquidation at this morning's opening bell had beans trading around 25 cents lower at one point.  Corn was a victim of spill-over weakness.  We did bounce back off the lows but spent the majority of the time remaining in the session inside of a 3-cent range.  We had an 8am flash sale announcement of 132k tonnes of new crop beans to China and 110k tonnes of beans to Bangladesh.  Weekly export inspections were on target with 1.585 mln tonnes of corn, 328k tonnes of soybeans, and 458k tonnes of wheat.  The year-to-date total accumulations for inspections vs the USDA's total export forecasts sit at 55% for corn, 88% for beans, and 80% for wheat.  Fundamentals remain mostly friendly.  In our home area, we did see some oat and wheat acres covered, along with some sugar beet planting, before last week's rain.  Currently, the 7-day forecast does not show much opportunity for field work and we will need some sunshine and warmer temps before it is fit again.  We’re looking a bounce back in tomorrow’s markets, it’s not called "turn-around Tuesday" for no reason.

Read More News

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.