Grain > Commentary > 6-28-2021

6/28/2021

Jun 28, 2021

6/28/2021
Despite some good rains across the grain belt throughout the weekend, fund and spec money poured back in at the start of overnight trade and the buying continued to build momentum throughout the day.  September corn, December corn, and August soybean contracts key reversed higher today while November beans hardly faltered from the opening bell Sunday night.  The weekend's rains were very beneficial, especially in our area, but were also isolated and spotty.  There was no USDA sale announcement this morning so we will have to look at the export sales report towards to end of the week to see if any rumors of Chinese new crop soybeans purchases can be confirmed.  Estimates for the quarterly grain stocks report show a year-to-year decline is predicted in corn, soybeans, and wheat.  We've seen what the market does on light news type of days so there is potential for some wild action on Wednesday with the report release.  The western part of the grain belt looks to return to the drier and warmer pattern over the next 6-10 days.  Reminder: Murdock will be servicing its grain handling system on Thursday, July 1 and Friday, July 2 and will not be able to receive grains either of those days.

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.