Grain > Commentary > 9-22-2020

9/22/2020

Sep 22, 2020

9/22/2020
About 3:00 am corn was trading down 3 and beans were down 10 as it looked like the correction was going to continue.  Then the markets rallied back into the coffee break with corn and beans trading slightly higher.  We got another round of decent export sales this morning.  Corn announcements were 140,000 MT to China and 320,000 MT to unknown destinations.  Bean announcements were 266,000 MT to China and 264,000 MT to unknown destinations.   That allowed the market to open higher on renewed optimism for continued exports.  Corn traded up 3 and beans traded up 15 at the highs in the first few minutes after the coffee break before trending lower the balance of the day and finishing in red figures.  Harvest progress will only continue to pick up from here and that will likely keep a lid on this market from here.  China remains the wild card with continued purchases.  The US dollar is up another 350 ticks today and is now trading at 94, up a full point in the last two days.  The Dow calmed down today and is up 100 points.  Wheat was the only bright spot today as Russia has some dryness concerns. 
 

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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.