Grain > Commentary > 5-27-2022

5/27/2022

May 27, 2022

5/27/2022
Corn and soybeans spent the overnight session trading back and forth on either side of unchanged until around the 6:30-7:00am timeframe when large buying interesting came in on corn. Corn futures continued to run higher throughout the morning until mid-day when intraday highs were set and volume waned into the long weekend. Overall, it was a very quiet news day, there were no export sale announcements or routine reports from the USDA. The best explanation for yesterday's move in corn and soybeans was a large hedge fund was rumored to have liquidated their corn:soybean spread positions. Soybeans did find some follow-through buying today to finish mostly higher and corn gained backed a little more than what was lost on Thursday. The markets will be closed on Monday for Memorial Day but will re-open 7 p.m. Monday night. This week has seen excellent progress in our area for planting and I expect next week's crop progress report to show another nice bump in corn and soybean plantings. Enjoy the long weekend! Reminder: Glacial Plains will be closed Monday, May 30 in observance of Memorial Day.

November soybeans back within striking distance of the contract high.
bean-chart.jpg

Read More News

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. 
8/15/2025
Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off.