Stanford Grain Company
               309-379-2141 Tel 866-379-2141 Toll-free
                             207 West Main Street - Stanford IL 61774 
Saturday, September 18, 2021
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Stanford Grain Company

Serving our customers since 1895!

Open until 7:00 tonight, Wednesay Sept. 15th.

New CBOT Daily Limits effective 5-1-21
Corn: 40 cents
Beans: $1.00
Wheat: 45 cents
Friday Afternoon Comments-Sept 17

Corn futures finished a couple of cents weaker on what was a very quiet day. Despite today’s weakness, December corn did manage a higher weekly close of 9 ¾. Corn futures only had an 8 to 9 cent range. Corn margins at the CME are being lowered this afternoon as the volatility has slowed in recent sessions. Talk of lower yields helped firm corn this week, but that talk was tempered the last two trading sessions. Harvest progress should be active this weekend, which also limited the upside today. Corn moisture continues to fall at a steady pace each day and stalk standability is a concern. The weather forecast shows some chances for rain early next week, but the extended is warm and dry. The quarterly grain stocks and small grain summary reports will be released at the end of the week. Other news was relatively quiet today. The commitment of traders’ report will be out this afternoon. The corn fund net long position has held steady at just over 200,000 contracts for weeks. The crop progress report on Monday afternoon is expected to show near 8% of corn harvest done, versus 4% this past week.

Soybean futures finished with double digit losses in the first 4 months. Fund buying was absent today as harvest gets started in many spots of the Midwest. The USDA announced a sale of 132,000 tons of China for this marketing year. This has been a steady trend recently, but there was a cancellation of beans to both unknown and China this week. China was also buying October beans out of Brazil this week as it manages its inventory with the Gulf loading slowed down due to the hurricane. PNW capacity is pretty full into November. The outside markets today showed equities and crude lower, with the dollar higher. China nearby crush margins have improved, increasing the nearby appetite for global beans. The quarterly stocks report for beans will be out on Sept. 30th. Bean basis towards the end of last quarter suggests that quarterly stocks could be up slightly.

USDA report – Sept. 10, 2021

  USDA – 21/22 Sept Avg. Est. USDA – 21/22 Aug USDA – 20/21 Sept Avg. Est. USDA – 20/21 Aug
Corn ending stocks 1.408 1.382 1.242 1.187 1.169 1.117
Bean ending stocks 0.185 0.190 0.155 0.175 0.166 0.160
Wheat ending stocks 0.615 0.616 0.627      
  USDA –
2021 Sept
Avg. Est.  USDA –2021 Aug      
Corn production 14.996 14.942 14.750      
Corn yield 176.3 175.8 174.6      
Corn harvested acres 85.1 85.1 84.5      
Bean production 4.374 4.377 4.339      
Bean yield 50.6 50.4 50.0      
Bean harvested acres 86.4 86.7 86.7      
  USDA – Sept Avg. Est. USDA - Aug      
Brazil Corn 86.0 84.8 87.0      
Brazil Soybeans 137.0 136.7 137.0      
Argentina Corn 50.0 48.5 48.5      
Argentina Soybeans 46.0 45.9 46.0      

Corn and bean yields both higher from Aug.
Corn harvested acres up,  bean harvested acres down

7-day expected precip: