Grain > Commentary > 9-28-2020

9/28/2020

Sep 28, 2020

9/28/2020
Corn tested support this morning down 4 cents at 3.60 futures before doing a full reversal and trading up a nickel at one-point late morning.  We did have some sales announced this morning of 207,140 metric ton of corn to Unknown, 110,800 metric ton of corn to Japan, and 218,300 metric ton of beans to Unknown.  We traded lower off that news initially, but as I mentioned corn bounced back.  Beans did finish down 6 cents on the day as harvest pressure continues to take its toll.  Beans are now 50 cents off last week’s highs.  Yields continue to come in about as expected on average.  Wednesday is the September stocks report, so be ready for that.  Corn harvest is expected to be 15-17%, compared to 8% last week, and soybean harvest is expected to be 16-18% done vs. 8% last week.  We will get that answer at 3:00 this afternoon.  Forecasts through the 14-day look to remain great for harvest activity, which should keep on lid on these markets for now. 
 

Read More News

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. 
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.