Grain > Commentary > 9-2-2021

9/2/2021

Sep 02, 2021

9/2/2021
Today was a very quiet day in the markets.  Storm damage from Ida is still being surveyed as some start to get power back, but others will not have power for weeks.  Some export ports in the Gulf have extensive damage and will take time to come back online, which has caused a shake up in the grain markets.  Some sales have shifted to the PNW to try and alleviate the pressure, but that’s only a band aid on the problem.  It will depend on how long these ports are down to know the full extent of the issue.  Barge traffic is also going to be an issue until troubled areas clear up.  Spreads have relaxed to give us some carries, so if you are sitting on HTA's that you don't plan on hauling this fall it might be a good time to take a look at getting them rolled out.  This is an opportunity we might not have gotten otherwise.   We did have another export sale announced this morning of 126,000 metric tons of soybeans for delivery to China.  There are no markets on Monday.  September 10th is our next monthly USDA report and as we mentioned yesterday, they plan to take a look at planted and harvested acres on this report.  That could be worrisome and may be another reason spreads relaxed. 
 

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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.