Grain > Commentary > 7-2-2021

7/2/2021

Jul 02, 2021

7/2/2021
Corn and beans traded either side of unchanged evenly in 20-25 cent ranges and go into the holiday weekend predictably lower with lighter volume and profit taking after Wednesday's big move higher.  Soybeans were supported solely by the soyoil trade today.  Also adding some pressure to the market was some new light showers scattered across the grain belt in the 7-10 day forecast, meaning a big national yield is still possible.  Seasonally, we would expect markets to start downtrending after the 4th and into harvest but with a fairly tight old crop inventory and a dry western corn belt, markets have more underlying support than they normally would this time of year.  All around a really light news day with a lot of the traders out of the game for the week.  Weekly closes: cash corn 60 cents higher, new crop corn up 65 cents, cash soybeans $1.21/bu higher, new crop soybeans up $1.35/bu.  Everyone have a safe and fun 4th of July weekend and we will chat again next week!  Happy Birthday, America!

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11/14/2025
Nov 14, 2025
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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.