Grain > Commentary > 8-18-2021

8/18/2021

Aug 18, 2021

8/18/2021
The markets were mostly quiet throughout the overnight and day sessions.  Corn and soybeans both traded on either side of unchanged with corn finishing 1-3 higher and soybeans 4-10 lower.  The USDA confirmed another private export sale of 131,000 tonnes of soybeans to China for the 2021/2022 marketing year.  This makes the 10th consecutive business day with a sale announcement.  ProFarmer tour found some good crops in Nebraska and Indiana yesterday and, overall, is finding some healthy crops in Western Iowa and Illinois today.  According to those on the crop tour, Indiana's corn crop has potential to be better than 2020's (state record yield) and the soybeans continue improve as they move west from Ohio into Iowa.  Weekly ethanol numbers were off, again, with output down 13,000 bpd from the previous week to 973,000 bpd.  Ethanol stocks were down 718,000 bbls to 21.56 million bbls.  The pace for ethanol corn usage for the year is close to the USDA's forecasted 5.05 billion bushels.  The forecasted rain for our area at the end of this week has increased in chance and amount.

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8/15/2025
Aug 15, 2025
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8/12/2025
Aug 12, 2025
The USDA report today didn't treat the corn market very well.  Both corn acres and yield were higher the result has corn carryout over 2.1 billion bushels.  Corn yield was pegged at 188.8 bpa vs an estimate of 184.29 bpa.  How high is 188.8?  Well…the previous record was 179.3.  Planted corn acres were put at 97.3 million.  Total corn production is estimated at 16.742 billion bushels, which is 763 million more than the report estimates.
5/12/2025
May 12, 2025
News broke Sunday that the USA and China have agreed to ease tensions and lower tariffs.  The US is lowering tariffs on Chinese goods from 145% to 30%.  China is lowering their import tariffs from 125% to 10%.  Talks will resume in the coming weeks.  This news had stocks, grains and oil higher overnight. Then of course we had a USDA grain report come out at 11:00 this morning.  That was also a bit friendly.