Grain > Commentary > 9-21-2021

9/21/2021

Sep 21, 2021

9/21/2021
Corn lower and beans stronger throughout the overnight and day sessions.  Soybeans found no willing sellers below the 200-day moving average during the day session, triggering technical buying and a solid bounce to an 11 cent higher finish.  A lack of any fresh news in corn resulted in continued risk-off and a close of 4 cents lower on the board.  Yesterday's weekly crop progress report showed the crop maturity and early harvest is progressing relatively normal to average across the U.S.  We will continue to see technical buying and some bounces higher on the daily charts but we will likely continue on our seasonal trend lower.  NOAA 7-day weather outlooks will put pressure on the markets as long as they favor corn drying and field work.  In our local area, we expect to be close to full harvest by the weekend. 

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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.