|

9-23 Midday:  Grains Rebound at Midday, Following Yesterday’s Weakness

ByGrain Market Insider

Grain Market Insider Interactive Quote Board

  • Corn futures are higher at midday, supported by export sales and ratings slipping. December corn is up 2-1/4 cents to $4.24-00, with March futures 2-1/4 cents higher to $4.41-00.
  • Monday’s Crop Progress report showed corn ratings falling 1 point from last week to 66% good-to-excellent but remaining 1 point ahead of last year. Harvest was seen improving 4% from last week to 11% complete. This compares to 13% harvested through the same week last year.
  • The USDA announced another sale of US corn to Mexico this morning, this time for 122,947 tons. This has led to some additional support in corn prices.

  • Soybeans are rebounding slightly at midday after starting off the morning weaker. Both the November and January futures contracts are a penny higher to $10.12-00 and $10.31-3/4 respectively.
  • Yesterday’s Crop Progress report showed soybean ratings falling 2 points to 61% good-to-excellent. Harvest advanced to 9% complete, up from 5% last week but down from 12% through the same week last year.
  • According to AgRural, Brazil’s 2025/26 soy sowing is just 0.9% complete in the center-south region. This is up from 0.1% last week but is on par with last year’s pace.
  • Wheat prices are getting a boost at midday, supported by slow planting progress in Ukraine and strong export inspections in yesterday’s inspections report. December Chicago futures are up 8-1/4 cents to $5.19-00.
  • Spring wheat harvest is reported at 96% complete, up from 94% last week and 95% a year ago. Winter wheat planting now stands at 20% done, up from 11% planted last week.
  • According to Ukraine’s agriculture ministry, wheat exports are down 28% year-over-year to just 4mmt.

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.