Grain > Commentary > 9-7-2023

9/7/2023

Sep 07, 2023

Corn and soybeans were stuck in lower trade in a very quiet Thursday.  Corn was uneventful with closes ranging from unchanged to down 1 cent on the day.  December 23 corn was the sole higher finish with a 1/2 cent gain.  Soybeans saw the remaining fresh length from the beginning of the week squashed out of the market, trading two-week lows and finding some basic technical support at the 50-day moving average.  Soybeans closed with 8-16 cent losses.  Weekly ethanol data showed production rising 5,000 barrels/day to 1.012 mln bpd.  Stocks were up slightly on the week.  Despite several of its own loading facilities damaged, it is reported that Ukraine has begun to export grains through Croatia.  Early dryland yield reports out of Kansas and Nebraska give no indications of a crop disaster.

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2/10/2026
Feb 10, 2026
It was USDA report day today and it turned out to be a yawner.  The markets never really reacted to the report, and the grains finished the day about where they started with corn unchanged and beans up 12 on the day.  US corn carryout was pegged at 2.127 billion bushels vs the average trade guess of 2.227 billion.  World corn carryout was placed at 288.98 MMT vs the average trade guess of 290.48 MMT. 
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.