Grain > Commentary > 7-29-2022

7/29/2022

Jul 29, 2022

7/29/2022
Weather continues to drive the bus and Sunday nights update will decide if the rally continues next week.  We did have a sale of 132,000 metric tons of beans to unknown today, which also fueled the market this morning.  Beans finished well off their highs for the day, likely on nervousness over the weekend.  For the week corn futures were up .52 and beans futures were up 1.53.  Thats a lot of weather premium, which means we have a lot of risk Sunday night.  Buckle in for the ride.  Basis locally feels toppy in corn and after watching bean basis break the last couple weeks it makes me nervous.  If you have any old crop corn left be careful because once the local ethanol plants get covered it's game over.  The $1 premium in old crop corn compared to new crop will disappear and it can happen in a hurry.  If you don't want to price the grain because the futures are moving higher then please consider a basis contract, which gives you until the end of August to get it priced.  The next target levels to take a look at are Dec corn at 6.53 futures and Nov beans at 15.22 futures.   Have a good Weekend!!

Read More News

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. 
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.