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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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. 
5/12/2026
May 12, 2026
Today was USDA report day.  Old crop corn carryout was pegged at 2.142 billion vs the average trade guess of 2.131 billion.  That is a 15 million bushel increase from the April report.  New crop 26/27 corn carryout was guessed at 1.957 billion vs an average trade guess of 1.933 billion.  The World old crop corn carryout was put at 296.95 million tonnes, vs an average trade guess of 296.33.