Grain > Commentary > 9-17-2020

9/17/2020

Sep 17, 2020

9/17/2020
More sales were announced and the rumors still continue.  Grain markets broke lower about 7:00 am going into the coffee break with corn down 3 and beans down 5.  Then the 8:00 am announcements came out and confirmed some of yesterday's rumors.  264,000 MT of beans to China, 360,500 MT to Unknown, and then a dab of corn of 120,000 MT to Unknown.  Grains then battled back to near unchanged from the 8:30 open until 9:30 and then the fireworks began.  Corn put in a new high for the move as it follows beans at 3.77 December futures.  Beans put in another new high as well at 10.3225 November futures before closing about a nickel off the highs.  Selling picked up on both corn and beans today as corn hit 3.25 cash and beans broke the 9.50 cash level.  It is truly incredible how much power these funds have once they decide to play.  Just remember how fast they can change their mind.  Continue to make sales on the way up, so we don't miss the boat.  I am not sure I can say that enough at this point.  This is a risky business to say the least, so make sure you’re doing what’s best for your business. 
 

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9/12/2025
Sep 12, 2025
USDA report day.  Corn and beans were trading higher pre-report on thoughts of a reduction to yields.  Well....we got what we were thinking but the USDA decided to throw a twist into the mix.  The 25/26 corn yield decreased slightly less than expected by 2.1 bu to 186.7 bpa, but they gave us the largest planted acreage shift on this report in at least the last 20 years (+1.4 mil acres) spurred an increase in production to 16,814 mbu.  25/26 ending stocks were slightly lowered by 7 mbu to 2,110 mbu. 
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.