Grain > Commentary > 9-24-2021

9/24/2021

Sep 24, 2021

9/24/2021
A very quiet day of trade with corn trading inside a 4-cent range and soybeans within an 11-cent range.  Funds and managed money remain sidelined while most are evaluating their position going into next week where the USDA will release the quarterly grain stocks report on Thursday.  Trade has steadily consolidated since the September WASDE report and the grain stocks report will provide us with a much-needed set of fresh fundamentals to trade and give our market some direction.  There was very limited news to trade this week and I expect we remain neutral/lower to start next week, barring any surprises.  Weekly close for corn is 6 higher and soybeans improved 4 cents on the week.  New crop basis remains historically strong going into the weekend and we recommend setting basis for hedged corn that will be delivered during the new crop period.  Murdock will be loading a soybean train tomorrow, September 25, and will be unable to receive corn for the day.

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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. 
5/12/2026
May 12, 2026
Today was USDA report day.  Old crop corn carryout was pegged at 2.142 billion vs the average trade guess of 2.131 billion.  That is a 15 million bushel increase from the April report.  New crop 26/27 corn carryout was guessed at 1.957 billion vs an average trade guess of 1.933 billion.  The World old crop corn carryout was put at 296.95 million tonnes, vs an average trade guess of 296.33.