Grain > Commentary > 9-9-2022

9/9/2022

Sep 09, 2022

9/9/2022
Corn and soybeans were higher from the start of overnight trade and finish Friday with double-digit gains.  It appeared that there was not much of a live hand active in trade today and computers were trading between in each other.  With corn returning to recent highs in such poor volume, remaining upside now feels very limited following Monday's WASDE report, unless we get some surprise numbers to feed the bull.  We have not had a weekly export sales report since the USDA switched to a new report format nearly a month ago.  The USDA finally announced today that they would release four weeks of sales data on September 15, split into two separate reports.  The USDA confirmed the sale of 104,000 tonnes of soybeans for delivery to Taiwan during the 2022/23 marketing year this morning.  There is a lot of buzz surrounding a potential railroad strike.  If a shutdown does happen, how much grain will need to be shifted to barge and truck freight?  Will we be able to recover from any lost shipping time?  We had a nice general rainfall overnight to help push soybeans into the finish.  Trade is expecting the USDA to reduce its yield forecast for this year's crop from 51.9 bu/ac to 51.4 b/a in Monday's report.

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10/9/2026
Oct 09, 2026
USDA Report Update:
Well, the USDA gave us an absolute shocker this morning and raised the corn yield up to 181.2 bpa vs 178.5 in September.  The average trade guess was lower at 177.7 bpa.  The carryout is now up to 1.849 billion bushels vs 1.567 in September.  They raised Exports up 25 million, Feed and residual up 50 million and Ethanol up 50 million.  Corn is currently down 28 cents on this news.  This is an absolute shocker to the corn market. 
9/11/2026
Sep 11, 2026
It is USDA report day and it seemed like one of the most important reports we have had in a while.  The USDA placed corn yield at 178.5 bpa vs an average guess of 178.2.  They were in line with expectations and admitting we have an issue brewing.  This likely won’t be our lowest yield we see, but it at least drew a line in the sand for a starting point. 
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.