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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9/12/2025
Sep 12, 2025
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8/21/2025
Aug 21, 2025
Today the market ran higher on rumors for positive SRE announcements coming soon.  Bean oil was up over $2.  Beans finished the day up 20 cents at 10.56 Nov futures.  There is a chance we could make a run at the 10.74 Nov highs from back in June.  If we get there, I am a seller.  Bean basis remains in the garbage, so a run higher in futures doesn't help that either.  We still don't have a trade deal, so I think any rally is short lived at this time. 
8/15/2025
Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off.