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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2/10/2026
Feb 10, 2026
It was USDA report day today and it turned out to be a yawner.  The markets never really reacted to the report, and the grains finished the day about where they started with corn unchanged and beans up 12 on the day.  US corn carryout was pegged at 2.127 billion bushels vs the average trade guess of 2.227 billion.  World corn carryout was placed at 288.98 MMT vs the average trade guess of 290.48 MMT. 
1/12/2026
Jan 12, 2026
Well, the USDA report had a bit of a surprise today and not in a good way.  Not only did they increase the 2025 corn yield, from 186.0 to 186.5, they also increased Harvest Acres from 90 million to 91.3 million.  That raised the total corn production to 17.021 billion, up an additional 269 million bushels from their previous estimate.  U.S. Ending Stocks are now estimated at 2.227 bbu, vs. 2.209 in Dec.  Report trade guesses were at 1.97 bbu.
11/14/2025
Nov 14, 2025
It was USDA report day today and overall, it was bearish for both corn and beans.  Corn Yield was only reduced by .7 bpa down to 186 bpa.  The market was expecting closer to 184 bpa.  Corn production is estimated at 16.752 billion vs 16.814 billion in September.  They raised exports 100 million, which is debatable, but possible.  Ending stocks on corn were estimated at 2.154 billion bushels, which is up 44 million from September and about 29 million more than the market expected.