Grain > Commentary > 4-26-2021

4/26/2021

Apr 26, 2021

4/26/2021
Trade was strongly higher from the start Sunday night, with May, July, and December corn contracts gapping higher on the open.  November beans also gapped higher to open last night's session.  The front months for corn traded limit-up almost immediately after the 8:30 open this morning, then eased off only to be locked limit again later in the session.  Fundamentals remain mostly unchanged with the big driver behind today's huge market moves being mostly fund and spec money buying in huge.  The weekly export inspections added some fuel to the fire with corn inspections coming in at 1.951 mln tonnes, 250k tonnes above the top estimate.  Soybean inspections were reported at 234k tonnes and wheat inspections were 564k tonnes, both at the high end of expectations.  There was also a USDA flash sale this morning of 120k tonnes (4.4 mln bu.) of new crop soybeans to unknown.  This week's USDA crop progress report is expected show sizable increases in corn and bean plantings after improvement in weather.  7-Day weather outlook looks favorable for field work and planting pace is sure to pick up and put us ahead of average a week from now. 

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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.