Grain > Commentary > 4-7-2022

4/7/2022

Apr 07, 2022

4/7/2022
Nothing noteworthy has changed in our fundamentals over the past 24 hours but corn and soybeans were the beneficiary of a large money flow back in.  Weekly export sales were extremely vanilla and dead center of the trading estimate ranges with 782k tonnes of corn and 800k tonnes of soybeans sold.  CONAB released their April production estimates for Brazil corn and soy with an increase in corn (115.6 mmt, +3.3 mmt from Mar) and a slight cut in soy (122.4 mmt, -0.4 mmt from Mar).  Tomorrow, we get our April WASDE report from the USDA and it's expected to be a quiet one with small cuts in U.S. ending stocks and changes in Brazil production similar to those from CONAB.  Next month, the USDA will release its first supply and demand numbers for the 2022 crop and that will likely get more attention than tomorrow's report.  In a show of incredible market strength, new crop soybeans are now trading back near levels seen prior to last week's planting intentions report.  That report was extremely bearish for soy and now the effect it had on the market can be read as neutral.  Reminder: Glacial Plains will be close next Friday, April 15 in observance of Good Friday.  The grain markets will also be closed that day.
outlook.jpg

Read More News

10/9/2026
Oct 09, 2026
USDA Report Update:
Well, the USDA gave us an absolute shocker this morning and raised the corn yield up to 181.2 bpa vs 178.5 in September.  The average trade guess was lower at 177.7 bpa.  The carryout is now up to 1.849 billion bushels vs 1.567 in September.  They raised Exports up 25 million, Feed and residual up 50 million and Ethanol up 50 million.  Corn is currently down 28 cents on this news.  This is an absolute shocker to the corn market. 
9/11/2026
Sep 11, 2026
It is USDA report day and it seemed like one of the most important reports we have had in a while.  The USDA placed corn yield at 178.5 bpa vs an average guess of 178.2.  They were in line with expectations and admitting we have an issue brewing.  This likely won’t be our lowest yield we see, but it at least drew a line in the sand for a starting point. 
7/10/2026
Jul 10, 2026
USDA report day was slightly friendly to the grain markets.
Corn:
25/26 corn carryout was pegged at 2.020 billion bushels vs an average guess of 2.073 billion.  The main changes to this year’s balance sheet had feed and residual usage up 150 million bushels while they decreased ethanol by 25 million bushels.  Corn Yield for next year was estimated at 183 bushel per acre, which was about as expected.