Corn is trading slightly higher at midday, pushing December corn above the 50-day moving average.
Monday’s Crop Progress report showed corn harvest in the US jumping 8% from last week to 65% complete.
USDA announced a sale of 359,500 mt of corn to Mexico for 24/25 which is adding to the support at midday.
Soybeans are strengthening at midday on some carryover support from yesterday’s export sales announcements.
Monday’s Crop Progress report showed soybean harvest in the US improving 14% from last week to 81% complete.
China cut interest rates yesterday which has led some to believe it could boost US exports.
All three wheat contracts are trading higher at midday on lower Russia production estimates.
Monday’s Crop Progress report showed winter wheat is now 73% planted, just below the 5-year average of 76% but up from 64% last week.
SovEcon estimates Russia production for 2025 at 80.1 mmt which is down from 83 mmt last year and would be the smallest crop since the 21/22 season.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
