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.

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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. 
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.
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.