Grain > Commentary > 5-30-2023

5/30/2023

May 30, 2023

After the long weekend, corn and soybeans were in steady, two-sided trade overnight and then selling flooded in shortly after the 8:30 am opening.  Trade was essentially all about weather.  Rains materialized over the weekend, bringing some relief to the areas of western Nebraska and southwest Minnesota.  Soybeans lead the pitfall today, trading as much as 43 cents down.  The July 23 soybean contract closed below the $13 handle for the first time since January 2022.  The recent rains also pressured wheat with the front-months finishing 25-35 cents lower.  Almost like flipping a switch, new crop corn contracts bounced off of their lows when the latest weather models were released.  U.S. export inspections were within expectations and on the upper end for corn with 1.313 mln tonnes shipped.  This is the first time in our current market year that corn had consecutive weeks above 1.0 mln tonnes of inspections.  Soybeans were mid-range at 240k tonnes.

rainfall.png

Read More News

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. 
1/12/2026
Jan 12, 2026
Well, the USDA report had a bit of a surprise today and not in a good way.  Not only did they increase the 2025 corn yield, from 186.0 to 186.5, they also increased Harvest Acres from 90 million to 91.3 million.  That raised the total corn production to 17.021 billion, up an additional 269 million bushels from their previous estimate.  U.S. Ending Stocks are now estimated at 2.227 bbu, vs. 2.209 in Dec.  Report trade guesses were at 1.97 bbu.
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.