Grain > Commentary > 3-2-2021

3/2/2021

Mar 02, 2021

3/2/2021
Weaker trade overnight in both corn and beans turned strongly higher in our day session on what could be best described as the buying simply outweighed the selling today.  We were able to recover a good portion of Monday's losses with corn and beans both settling in the middle of their 3-week trading ranges.  We did have a daily export sale announcement this morning of 175,000 tonnes of corn to Japan for the 2021/2022 marketing year.  This is the first daily export sale announcement since February 12 and we have no seen China as a flash buyer since January 29.  The United Kingdom announced that it will double the amount of ethanol blended in motor fuel from 5% to 10%.  This should be friendly long term for both ethanol and corn demand.  Some parts of Brazil received excessive rains overnight, with one isolated area receiving 10" of rain.  It is too early to know if the high amount of precipitation will result in any significant crop damage.  Overall, weather leans friendly for soybeans.  Argentina continues to see increased drought stress and the US drought monitor has seen little-to-no improvement over the past couple weeks.  Continue to evaluate your operation's risk and set new crop pricing goals accordingly.  In terms of market, this spring will be interesting.

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11/14/2025
Nov 14, 2025
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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.