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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9/11/2026
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.