Grain > Commentary > 7-20-2021

7/20/2021

Jul 20, 2021

7/20/2021
Turn-around Tuesday for corn and soybeans as they both finish a mostly quiet day with double digit gains.  Not much available to explain the higher move other than buying was supported by the hot and dry weather and money flowing back in after yesterday's wide spread sell-off across various markets and exchanges.  Crop conditions scored US corn at 65% good/excellent, unchanged from the previous week.  Soybeans were seen at 60% good/excellent, up 1% from last week.  Trade is giving some focus to the Brazil corn with areas seeing frost a couple times over the past week or so but, with harvest already underway (30% complete), I'm a little skeptical on if it will have any significant effect on their yields.  September corn has been attempting to fill a gap on the chart at the 588'0 mark but has been finding some resistance around 571'0 over the past week.  Funds purchased 8000 corn and 10000 beans today.  We will be looking forward to the break from this hot weather, whenever it comes.

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2/10/2026
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. 
1/12/2026
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.
11/14/2025
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.