Grain > Commentary > 3-27-2023

3/27/2023

Mar 27, 2023

After a short period of lower trade overnight, corn and soybeans turned it around to begin the week strong. Soybeans enjoyed gains of 13-15 cents and corn picked up 5-9 cents on Monday. Corn shook off a poor showing in the weekly export inspections, missing low at 666k tonnes shipped. Soybeans were at the upper end of their expected range with 889k tonnes shipped. We also had another sale announcement at 8 a.m. this morning with the USDA confirming 112,800 metric tons of corn for delivery to unknown during the 2022/23 marketing year. Soybeans inspections to date for this marketing year are 54 million bushels ahead of the pace needed to meet the USDA target, up from 44 million last week. Corn shipments for the marketing year are 170 million bushels behind the pace needed to meet the USDA target, up from 152 million bushels last week. Trade will likely continue working towards neutral spots on the charts ahead of Friday's prospective plantings and quarterly grain stocks reports.

Textbook inverted head and shoulders pattern on May corn.
corn-chart.png

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10/9/2026
Oct 09, 2026
USDA Report Update:
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9/11/2026
Sep 11, 2026
It is USDA report day and it seemed like one of the most important reports we have had in a while.  The USDA placed corn yield at 178.5 bpa vs an average guess of 178.2.  They were in line with expectations and admitting we have an issue brewing.  This likely won’t be our lowest yield we see, but it at least drew a line in the sand for a starting point. 
7/10/2026
Jul 10, 2026
USDA report day was slightly friendly to the grain markets.
Corn:
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