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Joe Camp

Joe Camp

American film director and writer

Oct 13, 2026

0:22
Joe, turning into-
0:25
An uninspired corn rebound attempt, uh, ultimately falling flat here into the close, possibly settling weaker.
0:34
We have soybeans just moderately softer, along with wheat as well.
0:39
So after some attempt to recover from last week and the bearish Friday crop report, it was a, a bigger bear surprise for corn in particular, but it was something that generally has weighed across the complex as we look for a much larger than anticipated corn yield, and now a new record high yield projection for soybeans.
1:05
And amid it all, amidst it all, having the harvest roll forward under really rather open weather.
1:12
We do have some rain coming across the Midwest, uh, through Thursday, but beyond that, the six to ten-day outlook mostly clear and conducive to providing ample opportunity for farmers to get this crop, uh, f- put into the pipeline and to relieve these end users.
1:32
That would be the other side of it, monitoring how these lower prices reinvigorate demand or not, and whether we start to see some triggering of better export sales and, uh, a better basis on the behalf of the processors.
1:49
What have we seen?
45:11
I guess, do you want to provide a, a recap on the reaction to the crop report that was released this past Friday?
45:19
Another negative one for corn.
45:21
That was two in a row coming from the September 30 grain stocks report, uh, uh, all of them, uh, lately producing bearish corn supply surprises.
45:32
You have the latest one on Friday showing a much larger than expected yield.
45:38
The corn yield national average jumping 2.7 bushels per acre on the month to 181.2.
45:46
Most views were looking for a lower number, including at least with the thought that the USDA wasn't going to budge too aggressively in either direction given that they are still collecting samples and that samples from the Midwest would have been delayed for this report because of the slower start that we've had this year.
46:07
We have that, though, uh, to show for the market's reaction on Friday, down 20 cents, at one point down the 30 cent limit, but bouncing off of that.
46:59
And I guess we segue from there then and talk about harvest progress being made over the weekend.
45:15
Joe, how we doing? I mean, first full week of October, how we doing here?
45:20
Traders quickly bought the dip overnight, and we had solid gains to speak of coming into the hard open, 8:30 Central, on Monday morning.
45:29
But now fizzling once again, this follow-through on the rebound.
45:34
We talk about that in perspective of last week, a rough week for grain futures, in part triggered by the September 30 grain stocks report.
45:44
It found, in particular, a bearish surprise for corn stocks, the ending stocks for last marketing year back above two billion bushels, way above even the top end of the trade range.
45:56
A little bit better of a number for soybeans, uh, but the reaction overall dominated by a sharp sell-off, 20 cents for corn futures, down 30 for the week.
46:08
And you have this big break now testing these key areas of support.
47:01
Does it go along then with the question that we would've been asking throughout September of how long does a counter seasonal rally last? I mean, we had a pretty good run for several weeks at a time when you no- don't normally have a run like that.

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