6/29/2021

Jun 29, 2021


6/29/2021
Two-sided action and mixed at the close in corn and soybeans heading into the big report day.  There was some volatility early in the day session but trading ranges were relatively small from late morning into the finish.  Weekly crop condition ratings were expected to improve after last week's rains but corn in the good/excellent category declined 1 point to 64% (65% last week, 73% last year) and soybeans maintained their 60% good/excellent rating (60% last week, 71% last year).  Spring wheat condition ratings continue to plummet, with only 20% of the crop in the good/excellent category, a 7% decline from last week.  While the really good rains have been spotty, it appears the crop situation in North Dakota may be improving.  The trade estimate of 2.6 million acres increase in corn from the March to June reports would be a record, if realized.  The total of increase of 4 million acres added between both corn and soybeans from the March to June reports would also be a record.  Keep calling in those rain reports from the past few days.  We appreciate every opportunity we get to chat with our customers and growers.   Reminder: Murdock will be unable to receive grain for the remainder of the week starting at 3pm tomorrow, June 30.  Murdock will resume normal receiving hours on Tuesday, July 6.

Read More News

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. 
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. 
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.