Grain > Commentary > 8-12-2022

8/12/2022

Aug 12, 2022

8/12/2022
The USDA gave trade the numbers they were looking for in corn yield but sent shockwaves through the market on the soybean side, printing a record yield and production numbers for the 2022 crop.  Soybeans flipped from 13 higher to 20 lower almost instantaneously at the 11 a.m. report time and corn retreated about 13 cents.  Trade had recovered to pre-report levels, and higher, by the closing bell to finish the week strong.  Weather was likely responsible for getting us to bounce back as the 6-10 and 8-14 trend drier. 
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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.