Grain > Commentary > 9-16-2022

9/16/2022

Sep 16, 2022

9/16/2022
Corn and soybeans spent the overnight session in the red but found a bid at their 20-day moving averages shortly after the 8:30 re-open.  Markets were somewhat steady after the mid-day point, making for a quiet second half of the session.  News was very limited today and we had no USDA announcements or reports.  Early soybean harvest has started in Iowa/Southern Minnesota and crushers have become somewhat erratic with their cash bids, backing off once a day or more, as more combines begin to roll.  Soybean board prices faded through the rest of the week from Monday's high, likely some early harvest pressure on the market.  This pressure will increase as the new crop supply increases and weather forecasts look encouraging to continue pushing our crop towards full maturity.  NOPA members reported 165.54 million bushels of soybeans processed during August.  This was down from 170.22 in July and slightly below the average trade guess.  Week-to-week, December corn is down 7 cents and November soybeans gained 36 cents.

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10/9/2026
Oct 09, 2026
USDA Report Update:
Well, the USDA gave us an absolute shocker this morning and raised the corn yield up to 181.2 bpa vs 178.5 in September.  The average trade guess was lower at 177.7 bpa.  The carryout is now up to 1.849 billion bushels vs 1.567 in September.  They raised Exports up 25 million, Feed and residual up 50 million and Ethanol up 50 million.  Corn is currently down 28 cents on this news.  This is an absolute shocker to the corn market. 
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:
25/26 corn carryout was pegged at 2.020 billion bushels vs an average guess of 2.073 billion.  The main changes to this year’s balance sheet had feed and residual usage up 150 million bushels while they decreased ethanol by 25 million bushels.  Corn Yield for next year was estimated at 183 bushel per acre, which was about as expected.