Grain > Commentary > 6-28-2021

6/28/2021

Jun 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.

Mar 31, 2025

USDA reported corn planting acres at 95.326 million acres of corn, which would be up a little more than 5% from 2024's final number and the second highest March figure of the last ten years behind only 2020's estimate of 96.99 mil acres. US corn stocks as of March 1st were seen at 81.51 billion bushels, which was exactly what the trade had expected and was down just over 2% from March 1 of 2024. USDA said farmers intended to plant 83.495 million acres of soybeans, which would be down about 4% from last year and was just a hair smaller than what the trade was looking for. March 1 soybean stocks were pegged at 1.91 billion bu's, which again was nearly exactly as the trade had expected, and was up 3.5% compared to March 1, 2024.

Mar 11, 2025

The monthly USDA WASDE report was today and it was about as boring as it can get. The USDA took the month off leaving corn and beans carryouts unchanged. Corn remains at 1.540 billion bushels and beans at 380 million bushels. World ending stocks were slightly lowered on both corn and beans. World corn was pegged at 288.94 million tonnes vs 290.3 million tonnes previously. World beans were pegged at 121.4 million tonnes vs 124.3 million tonnes previously. All of the South American crop production estimates were also left unchanged.

Aug 30, 2024

Corn picks up 10 cents and soybeans improve just over 25 cents on the week to go into the holiday weekend on a positive note. Soybean export sales have picked up the pace in a big way. At the end of last week, sales...

6/28/2021

Jun 28, 2021

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