Grain > Commentary > 12-1-2020

12/1/2020

Dec 01, 2020

12/1/2020
News is very quiet and the markets continued fade into the close today.  March corn broke the 4.23 level today, but hung onto the next support level of 4.20.  Ultimately there is a chance we could go down and test the 4.00 level, but that would take a widespread rain in South America.  Beans look destined now to test that 11.38 January level I mentioned yesterday.  Bean exports have slowed and the exporters seem over bought currently as no more new business has showed up for a while.  The market hasn’t had more than a few day setbacks in months. Is it time we do now?  The last set back we had was during month end in October and continued into the first couple days on November, which was about a 42 cent pull back, and then we blew up into new high levels.  Are we setting up for the same thing?  We are about to find out for sure, but my gut says 11.38 is in play, which is a healthy correction in my opinion.  South American weather will likely decide our fate either way.
 

Read More News

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.