Grain > Commentary > 9-3-2020

9/3/2020

Sep 03, 2020

9/3/2020
Beans got a little more strength today after yesterday's bean sale rumors were confirmed this morning.  There were two bean sales announced of 318,000 metric ton to unknown and 132,000 metric ton to China.  Beans made a new high for the move overnight, then traded lower much of the morning, before finishing a couple cents off the highs up 4 cents.  Wall Street looks a bit nervous today as the DOW made it over 29,000 yesterday, but is currently down 900 points today.  Corn traded lower the entire session today and finished down a nickel.  Tomorrow is a Friday in front of a holiday weekend, so you never know what can happen in light volume trade.  Once the markets close tomorrow, they won't trade again until Monday night at 7:00 pm.  If you want orders working please get them into us.  9.00 and 9.10 new crop beans and 3.10 new crop are the popular targets at the moment.  If those areas sound attractive to you let me know and we can get something working for you.  Those orders cover the overnight session too just in case we happen to spike.
 

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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. 
8/21/2025
Aug 21, 2025
Today the market ran higher on rumors for positive SRE announcements coming soon.  Bean oil was up over $2.  Beans finished the day up 20 cents at 10.56 Nov futures.  There is a chance we could make a run at the 10.74 Nov highs from back in June.  If we get there, I am a seller.  Bean basis remains in the garbage, so a run higher in futures doesn't help that either.  We still don't have a trade deal, so I think any rally is short lived at this time. 
8/15/2025
Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off.