Grain > Commentary > 9-14-2020

9/14/2020

Sep 14, 2020

9/14/2020
Beans made new high overnight at 10.0875 futures, but were unable to match those highs in the day session.  We had another great round of sale announcements this morning.  350,000 metric tons of corn for delivery to China, 106,000 metric tons of corn for delivery to Japan, 129,000 metric tons of soybeans for delivery to China, and 318,000 metric tons of soybeans for delivery to unknown.  That is quite the list again and we will take it!  Managed funds are now net long 55,000 corn and 199,000 soybean contracts.  Weekly export sales were great once again for corn and beans, which we already knew.  Debate continues about if China needs these sales or adding to reserve in case US and China relations sour.  Crop ratings were out at 3:00 with corn down 1% at 60% good to excellent.  Beans were down 2% at 63% good to excellent.  The plant is supposed to be dying now remember, just saying.  It still feels like the right thing to do is scale up selling, because one never knows when we top out and I sure don’t want to miss out on this opportunity with soybeans.  This is a dream type level only a month ago, now it is reality.   
 

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2/10/2026
Feb 10, 2026
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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.