Grain > Commentary > 9-16-2020

9/16/2020

Sep 16, 2020

9/16/2020
Overnight markets had corn and beans down 5-6 on the first couple hours of trade last night.  By the coffee break corn was unchanged and beans were up 6.  We got another bean sale announcement to China of 327,000 metric ton at 8:00 am.  Then rumor came out that China was going to purchase another 15-20 cargoes, which got the bean market to put in a new high up 21 cents at 10.1375.  Selling began to pick up from the farmer, but was still limited compared to last week’s volume.  It feels like we are searching for the top at the moment and I am not sure anyone knows where that’s going to be.  Early bean yields I have seen have been good and I would assume these early beans won't be our best yielding beans.  Continue to scale up sales and don't try and be a hero.  These markets can correct is a quick hurry.  Corn also traded higher today as they try and follow beans.  China remains the wild card in the corn market as well.  Will they buy more US corn and how much? 
 

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10/9/2026
Oct 09, 2026
USDA Report Update:
Well, the USDA gave us an absolute shocker this morning and raised the corn yield up to 181.2 bpa vs 178.5 in September.  The average trade guess was lower at 177.7 bpa.  The carryout is now up to 1.849 billion bushels vs 1.567 in September.  They raised Exports up 25 million, Feed and residual up 50 million and Ethanol up 50 million.  Corn is currently down 28 cents on this news.  This is an absolute shocker to the corn market. 
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.