Grain > Commentary > 9-22-2021

9/22/2021

Sep 22, 2021

9/22/2021
After a poor start to the week, the grain sector spent close to the entirety of both sessions trading higher.  Of all things, today's firm move higher across the corn, soybean, and wheat trades was supported by oats locked limit higher on small volume approximately 90 minutes into the session last night.  Around mid-day, corn and soybeans did trade back near unchanged when Reuters announced the EPA was proposing large cuts to biofuel blending requirements.  Prices recovered after trade realized the EPA already made a similar announcement earlier this year.  Daily export sales announcements have been quiet this week as harvest continues to ramp up in the US and with more crop continuously harvested, more crop continues to be hauled in.  Today, soybean basis showed its first shimmer of weakness in a number of weeks.  Weekly ethanol output continues to slide, off another 11,000 bpd to 926,000 bpd.  Ethanol stocks increased 101,000 barrels to 20.11 million barrels.  As of today, September 22, Glacial Plains will be extending its grain receiving hours to accommodate harvest.  Contact your local grain team representative to confirm hours.  Wishing everyone a safe and bountiful harvest.

Read More News

3/31/2025
Mar 31, 2025
USDA reported corn planting acres at 95.326 million acres of corn, which would be up a little more than 5% from 2024's final number and the second highest March figure of the last ten years behind only 2020's estimate of 96.99 mil acres.  US corn stocks as of March 1st were seen at 81.51 billion bushels, which was exactly what the trade had expected and was down just over 2% from March 1 of 2024.  USDA said farmers intended to plant 83.495 million acres of soybeans, which would be down about 4% from last year and was just a hair smaller than what the trade was looking for.  March 1 soybean stocks were pegged at 1.91 billion bu's, which again was nearly exactly as the trade had expected, and was up 3.5% compared to March 1, 2024.
3/11/2025
Mar 11, 2025
The monthly USDA WASDE report was today and it was about as boring as it can get.  The USDA took the month off leaving corn and beans carryouts unchanged.  Corn remains at 1.540 billion bushels and beans at 380 million bushels.  World ending stocks were slightly lowered on both corn and beans.  World corn was pegged at 288.94 million tonnes vs 290.3 million tonnes previously.  World beans were pegged at 121.4 million tonnes vs 124.3 million tonnes previously.  All of the South American crop production estimates were also left unchanged.  
8/30/2024
Aug 30, 2024
Corn picks up 10 cents and soybeans improve just over 25 cents on the week to go into the holiday weekend on a positive note.  Soybean export sales have picked up the pace in a big way.  At the end of last week, sales...