Corn is trading higher early Wednesday, extending Monday’s bullish reversal and attempting to hold above the $4 mark.
Traders expect last week’s ethanol production to average between 1.08 and 1.1 million barrels per day, according to Wednesday’s EIA report. The previous week averaged 1.085 million bpd, with production for the marketing year running 3.7% above last year.
After an unusually warm start to July, more above-normal heat is forecast for the second half of the month, raising concerns about potential pollination issues.
Soybeans are trading higher this morning as futures attempt to bounce off of the $10.00 support level that was tested and held to start the week.
President Trump announced a trade deal with Indonesia on Tuesday, with early details indicating the framework includes $4.5 billion in annual U.S. agricultural product purchases.
Wednesday’s NOPA report showed June soybean crush at 185.7 million bushels — a record for the month, though down nearly 4% from May as expected. Soybean oil stocks fell to 1.366 billion pounds, the lowest June level in over 20 years, per Reuters.
All three wheat classes are holding onto gains to start Wednesday, following corn and soybean futures higher.
SovEcon reports Russia’s 2025 wheat harvest is off to a slow start, with early yields trailing those of 2024.
USDA reported 63% of the U.S. winter wheat crop harvested as of July 13, just 1% behind the five-year average. Spring wheat conditions improved 4% to 54% good-to-excellent, likely due to recent rains in parts of Montana, North Dakota, and Minnesota.
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.
