Grain > Commentary > 4-6-2023

4/6/2023

Apr 06, 2023

It was risk-off into the holiday weekend with trade reacting to multiple signals.  A combination of an improved forecast, short-term profit taking, potential tension escalation between the U.S./Taiwan/China, and active farmer selling out of South America.  Corn and soybeans spreads working off of the May contracts were volatile again today.  The May:July soybean spread has traded over a 12 cent range over the past two days!  Net export sales were above average for corn for the week at 1.247 mln tonnes sold.  Soybean sales underperformed at 155k tonnes.  On the plus side, this week's downturn in the futures already have rumors swirling of some fresh old crop export business.  It looks like the market has done its job over the past 4 weeks and found a number that interests corn buyers.  Reminder: The markets are closed tomorrow in observance of Good Friday.  Glacial Plains offices will also be closed.

Read More News

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.