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.
 

Read More News

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. 
8/12/2025
Aug 12, 2025
The USDA report today didn't treat the corn market very well.  Both corn acres and yield were higher the result has corn carryout over 2.1 billion bushels.  Corn yield was pegged at 188.8 bpa vs an estimate of 184.29 bpa.  How high is 188.8?  Well…the previous record was 179.3.  Planted corn acres were put at 97.3 million.  Total corn production is estimated at 16.742 billion bushels, which is 763 million more than the report estimates.
5/12/2025
May 12, 2025
News broke Sunday that the USA and China have agreed to ease tensions and lower tariffs.  The US is lowering tariffs on Chinese goods from 145% to 30%.  China is lowering their import tariffs from 125% to 10%.  Talks will resume in the coming weeks.  This news had stocks, grains and oil higher overnight. Then of course we had a USDA grain report come out at 11:00 this morning.  That was also a bit friendly.