Grain > Commentary > 8-27-2021

8/27/2021

Aug 27, 2021

8/27/2021
Today was a very quiet day heading into the weekend.  We did have a couple more sale announcements this morning.  129,000 metric tons of soybeans for delivery to China and 150,000 metric tons of corn for delivery to Colombia.  The US dollar was down about 400 tickets today, which is supportive to the grains.  Old crop basis continues to slowly leak towards new crop values, so if you have old crop left to sell now is the time before that premium is gone.  What was once a 90 cents premium a month ago is now a 30 cents premium on the bid sheet today.  Don't give that premium up.  For the week December corn futures were up 16 cents and bean futures were up 33 cents.  Harvest is quickly approaching as next Wednesday is already the 1st of September.  Seasonally this is not a time for a market rally, so I would expect sideways to lower trade next week to finish out the month of August.  We will have a full week of trade next week with a 3 day weekend for the Labor Day Holiday.    Have a good weekend!   

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8/21/2025
Aug 21, 2025
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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. 
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.