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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9/11/2026
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. 
6/11/2026
Jun 11, 2026
The USDA report was noneventful and now we wait for the stocks and acres report on June 30th.  25/26 corn carryout was estimated at 2.145 billion vs an average guess of 2.138 billion.  26/27 corn carryout was estimated at 1.960 billion vs an average guess of 1.947 billion. 26/27 World corn carryout was estimated at 281.22 Million Tonnes vs an average guess of 278.51.  That is up 4 Million Tonnes from the May USDA report.