Grain > Commentary > 5-11-2022

5/11/2022

May 11, 2022

5/11/2022
Corn, soybeans, and wheat all posted double-digit gains one day ahead of our monthly WASDE report.  The July contract for corn settled the day near the middle of the range traded over the past two weeks, July soybeans settled on the low end of its 3-month trading range.  With soybean acres already increased 3% year-over-year in our March planting intentions report and corn plantings becoming further delayed, farmers may turn more acres to soybeans.  Front end contracts are already flirting with some major support levels and if no big headlines can rejuvenate the soy market nor the USDA provides anything fresh to boost the values, July soybeans could be heading towards the 1525'0-1550'0 area.  A sizeable move lower in soybean futures would likely see basis improve with processors already collecting excellent margins in the crush.  Weekly ethanol showed output up 22,000 barrels/day to 991,000 bpd and stocks up 253,000 barrels to 24.14 mln bbls.  After today, the forecast shows an excellent possibility of a 7-day window for field work coming together and is probably all we need to get the necessary corn acres in. 
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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.