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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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. 
9/12/2025
Sep 12, 2025
USDA report day.  Corn and beans were trading higher pre-report on thoughts of a reduction to yields.  Well....we got what we were thinking but the USDA decided to throw a twist into the mix.  The 25/26 corn yield decreased slightly less than expected by 2.1 bu to 186.7 bpa, but they gave us the largest planted acreage shift on this report in at least the last 20 years (+1.4 mil acres) spurred an increase in production to 16,814 mbu.  25/26 ending stocks were slightly lowered by 7 mbu to 2,110 mbu. 
8/21/2025
Aug 21, 2025
Today the market ran higher on rumors for positive SRE announcements coming soon.  Bean oil was up over $2.  Beans finished the day up 20 cents at 10.56 Nov futures.  There is a chance we could make a run at the 10.74 Nov highs from back in June.  If we get there, I am a seller.  Bean basis remains in the garbage, so a run higher in futures doesn't help that either.  We still don't have a trade deal, so I think any rally is short lived at this time.