Grain > Commentary > 12-7-2020

12/7/2020

Dec 07, 2020

12/7/2020
Overnight markets had corn down 5 and beans down 10 on rain in South America, but the forecast going forward is not trend changing.  Weekly US soybean exports were near 84 mil bu versus 89 last week and 51 last year. Season to date exports are near 1,081 mil bu vs 638 last year.  About the time the export inspections were released the bean market battled and eventually got into green figures.  I still don't think the bean story is over, but December still doesn't look like a month where we will have to make new highs.  It feels like we are range bound for the time being.  Weekly US corn exports were near 29 mil bu versus 19 last year. Season to date exports are near 434 mil bu vs 257 last year.  We are just waiting for more new business to show up that shows China is still in need of US corn.  We do have a USDA report this Thursday, so keep your eye peeled for that.  I think corn and bean carryouts can continue to tighten, but I am not convinced that it will happen on this report.  As I said we might need another round of business before the USDA is willing to take that next step.
 

Read More News

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. 
8/15/2025
Aug 15, 2025
Corn and beans both had nice gains heading into the weekend.  Corn might seem terrible as of late, but for corn to only be down 2 cents since report day is impressive.  That was one of the most bearish reports for corn we have seen in quite some time.  Corn finished the week 13 cents off its lows and unchanged for the week.  New crop corn basis has softened a little on the week as the extra 2 million acres and 8 bushels of yield from the report has also scared a few exporters off.