Grain > Commentary > 7-13-2021

7/13/2021

Jul 13, 2021

7/13/2021
Corn and soybeans traded mixed overnight and firmly higher during the day session, mostly supported by the wheat board where buying interest has been abundant due to the current condition of this year's spring wheat crop.  Crop progress ratings for spring wheat maintained the 16% good/excellent score from the week prior but the poor/very poor category grew by 5 points to 55%.  Corn condition improved slightly from last week, increasing the good/excellent by 1% from last week to 65%.  South Dakota showed the biggest improvement in their corn crop in the previous week with a 7-point jump in the good/excellent category.  Soybeans maintained their good/excellent rating of 59% from the week prior but Iowa's soybeans improved nicely with a 6% increase of beans seen good/excellent.  These crop ratings allowed trade to shrug off yesterday's neutral/negative WASDE report after it was expecting to see bigger improvements in the corn and soybean condition.  Locally, the prospective rain totals for tomorrow have increased for our area since yesterday!

Read More News

9/11/2026
Sep 11, 2026
It is USDA report day and it seemed like one of the most important reports we have had in a while.  The USDA placed corn yield at 178.5 bpa vs an average guess of 178.2.  They were in line with expectations and admitting we have an issue brewing.  This likely won’t be our lowest yield we see, but it at least drew a line in the sand for a starting point. 
7/10/2026
Jul 10, 2026
USDA report day was slightly friendly to the grain markets.
Corn:
25/26 corn carryout was pegged at 2.020 billion bushels vs an average guess of 2.073 billion.  The main changes to this year’s balance sheet had feed and residual usage up 150 million bushels while they decreased ethanol by 25 million bushels.  Corn Yield for next year was estimated at 183 bushel per acre, which was about as expected. 
6/11/2026
Jun 11, 2026
The USDA report was noneventful and now we wait for the stocks and acres report on June 30th.  25/26 corn carryout was estimated at 2.145 billion vs an average guess of 2.138 billion.  26/27 corn carryout was estimated at 1.960 billion vs an average guess of 1.947 billion. 26/27 World corn carryout was estimated at 281.22 Million Tonnes vs an average guess of 278.51.  That is up 4 Million Tonnes from the May USDA report.