Corn remains higher at midday, supported by strong weekly export sales announcements.
Weekly corn export sales came in at 61 mb, which was in line with trade expectations. Year-to-date commitments now total 2.048 billion bushels, up 25% from last year.
Much of the Midwest is slated to see some precipitation over the next 7-10 days but favors mostly the eastern Corn Belt.
Soybean prices remain pressured at midday by poor weekly export sales results from last week.
Weekly soybean export sales came in below expectations at 13 mb. Year-to-date commitments total 1.669 billion bushels, up 13% from a year ago.
Abiove lowered their Brazil soybean production estimate for 2025 from 171.7 mmt to 170.9 mmt. This compares to the USDA’s estimate of 169 mmt.
The USDA attaché in Beijing sees Chinese soybean imports reaching 106 mmt for 25/26.
Wheat prices remain soft at midday amid a rising dollar and potential acreage increases in the upcoming acreage report.
Weekly wheat export sales came in at 10 mb, which was below trade expectations. Year-to-date commitments total 766 mb, up 13% from last year.
Prices may find support on dips as drought conditions persist through much of the Southern Plains and Black Sea region.
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.
