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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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.