Grain > Commentary > 11-12-2021

11/12/2021

Nov 12, 2021

11/12/2021
Corn and soybeans surge going into the weekend with soybeans posting 20+ cent gains to finish the week strong.  The USDA made an 8am sale announcement of 256,930 tonnes of soybeans for delivery to unknown during the 2021/22 marketing year.  Weekly export sales for corn were mid-range with 1.067 million tonnes sold.  Soybean and wheat net sales were within range but towards the low end, with 1.289 mmt of soybeans and 289k tonnes of wheat sold last week.  Double-digit gains in soybean meal provided the big push in soybeans futures today.  Corn strength following Tuesday's report has been provided mostly by China's domestic corn price which has rallied as of late.  Some see this as a sign that China will be entering the market soon but China's state government has encouraged citizens to stockpile and that sounds like something you do when you're preparing to cut yourself off from the rest of the world.  A quick look at the technical charts shows corn and soybeans found some quick resistance at the overhead trend lines today and did not test them.  If you did not do a round of sales at these levels two weeks ago, I'm a seller here.  Otherwise, patience could be beneficial to see if there is enough momentum to break us out higher.  

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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. 
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.