Grain > Commentary > 2-9-2022

2/9/2022

Feb 09, 2022

2/9/2022
The USDA came in less friendly than expected on today's report but the money continued to roll in, trade simply threw the WASDE aside and continued to buy.  The immediate reaction to the report saw corn lose around 5 cents and soybeans about 10 cents and then we were back to trading crop loss in South America.  The USDA cut 5 million tonnes (183 million bushels) to their Brazil soybean production estimate from the previous month.

No changes on the corn balance sheet this month.
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Soybean ending stocks were lowered 25 million bushels with the USDA increased crush usage.
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5/12/2026
May 12, 2026
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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.