Grain > Commentary > 9-9-2020

9/9/2020

Sep 09, 2020

9/9/2020
Last night’s crop condition report had corn at 61% and beans at 65% good to excellent.  Both down 1%.  Beans made a new high this morning at 9.8175 futures after a couple soybean export sales were announced.  238,000 MT for 2020/21 to China and 132,000 MT to unknown.  9.8275 November was the January 2nd high I have been talking about for a couple weeks now.  How high can this market go this close to harvest?  With the next USDA report on Friday we are about to find out.  It feels like this market is set up to either explode or bust at this point.  I can find an argument for either case, but be careful here.  If you are under sold on beans, I would be making sales here ahead of the report on Friday and "hope" I am wrong.  If we make a sale at 9.10 and the market goes higher, we will still have more to sell.  As I said before, this is not the time to try and hit a home run.  Make a bunch of base hits instead of striking out and our sales will average out nicely. 
 

Read More News

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.