Grain > Commentary > 4-5-2021

4/5/2021

Apr 05, 2021

4/5/2021
Corn mixed and beans higher following a weekend of beautiful weather that we are not accustomed to so early in April.  Fund and spec money was busy today repositioning against the old crop/new crop price spread which put some pressure on our old crop corn futures and supported new crop values.  The December corn contract set new contract highs early in the day session which did trigger some new crop cash sales from the farmer.  This morning, the USDA announced the sale of 130k tonnes (4.8 mln bu) of soft red wheat to unknown destination for the 2021/22 marketing year.  The marketing year for wheat begins June 1.  We are less than a week away from the federal crop insurance corn planting date for our area and today is the first very active day for wheat seeding in the territory.  We are forecasted for about 2" of much-needed rain between now and the weekend.  Weather currently looks favorable for field work Saturday and beyond but the moisture accumulation prior may be enough to keep the iron in the yard for a day or two past April 11.  Not much for fresh news today but we will get an updated WASDE report from the USDA on Friday.
 

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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.