5/20/2021

May 20, 2021


5/20/2021
Corn and soybeans were mostly higher overnight and for a majority of the day session.  Corn was able to keep part of its gains into the close, with new crop finishing 13 higher, but beans faded early in the final hour, closing 2-5 cents into the red.  It appears we have found some support levels in corn to work off of.  With the glut of the excess spec money liquidated out, we can now get back to keying direction off of fundamentals.  The demand outlook for corn continues to look positive with end-users posting good margins, numbers that are sure to improve with a 70 cent pull back in the futures.  USDA reported another flash sale of 1.224 mln tonnes of new crop corn to China this morning, adding another 48.1 mln bushels to their 21/22 marketing year total.  Soybeans continue to slip away from their highs with the July contract settling $1.34 below its contract high set back on May 12.  Soybean basis has been weakening in that same time frame but expect demand to pick up with the raw product becoming cheaper.  Weekly export sales were headlined by corn posting 4.062 mln tonnes of new crop sold.  Old crop corn had net sales of 278k tonnes and old crop beans offered some upside to the market with 84k tonnes sold.  Recent rain falls will keep the market on guard as some dry areas continue to pick up moisture.

Read More News

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. 
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.
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.