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7-31 End of Day: Corn Gains on Export Strength; Wheat and Soybeans Under Pressure

ByGrain Market Insider

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • 🌽 Corn: Corn futures closed mostly higher today, supported by a positive export report and signs of improved demand.

  • 🌱 Soybeans: Soybeans closed lower again, as ongoing weather pressure and improving crop conditions weighed on the market.

  • 🌾 Wheat: Wheat ends mixed pressured from a stronger U.S. Dollar and the market adjusts from oversold levels.

To see the updated U.S. 7-day precipitation forecast as well as the Brazil and Argentina one-week forecast total precipitation courtesy of the National Weather Service, Climate Prediction Center and NOAA scroll down to the other Charts/Weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2025 Crop: 

  • Plan A:

    • Exit all 510 December calls @ 43-5/8 cents.

    • Exit half of the December 420 puts @ 43-3/4 cents.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.

    • Changes:

      • None.

2026 Crop: 

  • Plan A: Target 483 vs December ‘26 for the next sale.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Four sales recommendations have been made to date, with an average price of 462.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures finished mixed, with front-month contracts showing buying strength supported by positive export news. Gains remained modest as the market balances an improved new-crop demand forecast against the potential for a record corn harvest this fall.

  • Weekly corn export sales reflected a strong week of activity for new crop corn. For the week ending July 24, new crop corn sales were 1.892 MMT (74.5 mb), which was above market expectations as US corn is competitive versus global competition. Old crop sales slowed as the market year is winding down at 349,000 MT (13.4 mb) down 47% from last week.

  • USDA reported three flash sales of corn on Thursday morning. Unknown destinations purchased 136,000MT (5.3 mb), Colombia purchased 100,000 MT (3.9 mb), and South Korea purchased 140,000 MT (5.5 mb). All purchases were for the 2025-26 marketing year.

  • President Trump announced a 90-day negotiation period with Mexico regard trade and possible tariffs. The U.S. is currently holding the 25% trade tariff in place for the 90-day time window. Mexico is the largest importer on U.S. corn.

  • The U.S. Dollar Index is trading at its highest level since May, recovering from recent lows. A stronger dollar against foreign currencies may reduce or eliminate the competitive edge U.S. corn currently holds in the export market.

Corn Futures Back Near Recent Lows
With few weather issues so far this season, the typically volatile months of May through July have been unusually quiet for corn price action. Futures slipped last week and are now testing support near 391. A break below this level could shift focus to the August 2024 low near 360. On the upside, an unfilled gap at 413 is the first target, with resistance near 420 and a second gap at 430 if momentum builds.

Soybeans

2025 Crop:

  • Plan A:

    • Next cash sale at 1114 vs November.

    • Exit one-third of 1100 call options at 1085 vs November.

    • Exit remaining two-thirds of 1100 November call options at 88 cents.

  • Plan B:

    • No active targets.

  • Details:

    • Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.

    • Changes:

      • None. No change to the 1114 upside target despite recent market weakness; a hot, dry August may be needed to reach it. While uncommon, sizeable August rallies have occurred before.

2026 Crop:

  • Plan A: No active targets.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Still waiting on first targets for 2026 to post.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans closed lower for the fifth straight day, pressured by improving August crop forecasts. November soybeans hit their lowest close since early April. While export sales remained solid, they weren’t enough to support prices. Today also marked first notice day for August futures. Soybean meal gained ground, but soybean oil declined alongside crude oil.

  • Today the USDA reported an increase of 12.8 million bushels of soybean export sales for 24/25 and an increase of 15.8 mb for 25/26. This was within trade expectations, and top buyers were Egypt, Mexico, and the Netherlands. Last week’s export shipments of 18.4 mb were above the 17.7 mb needed each week to meet the USDA’s export estimates.

  • Private analyst in Brazil are estimating continued growth in Brazil’s soybean production for 2025-26. The expectations are for the Brazil’s crop next year to reach nearly 120 million acres of production and production to grow to nearly 180 MMT.

  • With the 90-day U.S.-China tariff pause set to expire on August 12, officials are reportedly working to extend the agreement. However, progress on a broader trade deal remains elusive, and China’s limited cooperation casts doubt on their need for U.S. soybeans in the near term.

Soybeans Stuck in Sideways Range
Soybeans failed to clear key resistance at the May high of 1082 in mid-June, keeping the broader trend sideways. A break above the 100-day moving average would open the door to filling the gap left over the 4th of July weekend near 1050. On the downside, initial support sits near 1000, with stronger support at the April lows near 980.

Wheat

Market Notes: Wheat

  • Wheat closed lower in Chicago, while mixed in Kansas City and Minneapolis. Weighing on the market was a lower close for Matif wheat futures and the break in the US Dollar Index above its 100 day moving average. However, it appears wheat is trying to stabilize at these lower levels after having become technically oversold.   

  • The USDA reported an increase of 21.8 mb of wheat export sales for 25/26 and an increase of 1.4 mb for 26/27. Shipments last week totaled 10.9 mb, which falls under the 16.5 mb pace needed per week to reach their export goal of 850 mb. Total 25/26 export commitments have reached 351 mb, up 15% from last year.

  • Recent rains have brought improvements to drought conditions for both winter and spring wheat. As of July 29, according to the USDA an estimated 30% of US winter wheat areas are experiencing drought, down 1% from last week. Spring wheat acres in drought declined 5% from last week to 38%.

  • Ukraine’s economy ministry has reported that their nation has harvested 15.5 mmt of grain. Of that total, wheat accounts for 11.36 mmt; total grain harvest is expected to reach 53 mmt.

  • The Polish central statistics office is estimating their 2025 wheat harvest will total 12.8 mmt. If realized this would be a 3% increase year over year. Total grain production is anticipated at 25.4 mmt, which would be in line with last year’s figure.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 633.50 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None. No active sales targets as still within the harvest window for SRW.

2026 Crop:

  • CONTINUED OPPORTUNITY – Buy July ‘26 550 Chicago wheat puts on a portion of your 2026 SRW crop for approximately 29 cents in premium, plus commission and fees.

  • Plan A:

    • Target 681 vs July ‘26 for the next sale.

  • Plan B:

    • Close below 588 support vs July ‘26 and buy put options (strikes TBD). – Hit 7/29.

  • Details:

    • Sales Recs: One sales recommendation made to date, at 624.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Holds Range; Watching 558 Resistance and 522.25 Support
Chicago wheat’s sharp rally in mid-June was short-lived, with futures pulling back toward the upper end of their 2025 trading range. Initial support is found at the 50-day moving average; a break below that level could open the door to a retest of the June low at 522.25. On the upside, a weekly close above 558 would be constructive and could set up a move back toward the recent highs near 590.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 653 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 618.

    • Changes:

      • None. With HRW harvest nearly complete, the window is opening for the next upside sales targets to post.

2026 Crop:

  • CONTINUED OPPORTUNITY – Buy July ‘26 540 KC wheat puts on a portion of your 2026 HRW crop for approximately 26 cents in premium, plus commission and fees.

  • Plan A:

    • Target 683 vs July ‘26 to make the first cash sale.

  • Plan B:

    • Close below 549 support vs July ‘26 to make the first cash sale.

    • Close below 584 support and buy July ‘26 put options (strikes TBD). – Hit 7/29.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Heads up that the July ‘26 contract is nearing the 584 Plan B stop, which if hit, would prompt buying July ‘26 put options.

To date, Grain Market Insider has issued the following KC recommendations:

KC Wheat Pulls Back Below Key Averages, Support at June Lows
KC wheat futures saw a strong rally in June, briefly testing the April highs near 580. However, late-month weakness pulled prices back below both the 100 and 200-day moving averages, which now serve as key resistance levels. On the downside, initial support is seen at the June low of 517.75, with secondary support near the May low around 500.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy KC call options if September KC closes over 653 macro resistance (strikes TBD).

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

      • FYI – KC options are used for better liquidity.

2026 Crop:

  • CONTINUED OPPORTUNITY – Buy July ‘26 540 KC wheat puts on a portion of your 2026 HRS crop for approximately 26 cents in premium, plus commission and fees.

  • Plan A: No active targets.

  • Plan B:

    • Sell a second portion if September ‘26 closes below 639 support.

    • Close below 584 vs July ‘26 KC and buy July KC put options (strikes TBD).– Hit 7/29.

  • Details:

    • Sales Recs: One sales recommendation made to date, at a price of 678.75.

      • Changes:

        • None.

        • FYI – KC options are used for better liquidity.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Spring Wheat Futures Test Key Support After July Slide
Spring wheat futures have come under pressure in July, weighed down by improving crop conditions and generally favorable weather across key growing areas. Technically, a cluster of major moving averages just above the 600 mark presents the first layer of upside resistance, with a chart gap near 650 serving as a secondary target if momentum builds. On the downside, the May lows near 580 should provide firm support in the event of further weakness.

Other Charts / Weather

Above: US 7-day precipitation forecast courtesy of NOAA, Weather Prediction Center.

Above: Brazil and Argentina one-week forecast total precipitation courtesy of the National Weather Service, Climate Prediction Center.

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7-30 End of Day: Favorable Weather Caps Rallies; Trade Tensions Return to Focus

ByGrain Market Insider

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • 🌽 Corn: Corn futures ended slightly higher, breaking a three-day slide. The widening spread between September and December contracts led to profit-taking on that spread, offering support to the front end of the market.

  • 🌱 Soybeans: Soybean futures closed sharply lower, marking the fourth straight losing session. November contracts fell below $10.00 for the first time since early April, turning that level into potential resistance.

  • 🌾 Wheat: Wheat futures closed mixed, with losses in Chicago and Minneapolis contracts, while Kansas City posted slight gains. Continued strength in the U.S. Dollar is weighing on the wheat complex.

  • To see updated U.S. weather maps scroll down to the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2025 Crop: 

  • Plan A:

    • Exit all 510 December calls @ 43-5/8 cents.

    • Exit half of the December 420 puts @ 43-3/4 cents.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.

    • Changes:

      • None.

2026 Crop: 

  • Plan A: Target 483 vs December ‘26 for the next sale.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Four sales recommendations have been made to date, with an average price of 462.

    • Changes:

      • None. The target remains 483 to make the next sale.

To date, Grain Market Insider has issued the following corn recommendations:

  • The corn market broke a three-day lower price streak as the market pulled out minimal gains on the session. The spread between September and December had grown wide, and the market saw some profit taking on that spread, which supported the front end of the corn market.

  • Demand for new-crop U.S. corn has improved in recent weeks. Rising Brazilian corn prices — despite a record harvest — have made U.S. corn more competitive on the export market. Thursday’s export sales report is expected to reflect strong new-crop activity.

  • Analysts are increasingly projecting a jump in U.S. corn yields in the August WASDE report, with early estimates averaging near 185 bu/acre. A yield at that level could add 350–400 million bushels to the balance sheet, pressuring prices further if demand doesn’t keep pace.

  • Weather forecasts stay non-threatening into the first half of August. The combination of cooler than normal temperature and adequate moisture will help support the development of the crop into the finishing stages.

  • Weekly ethanol production rose to 1.059 million barrels per day — higher than the prior week, but slightly below year-ago levels. About 105.9 million bushels of corn were used for ethanol, still running behind the pace needed to meet USDA projections for the marketing year.

Corn Futures Back Near Recent Lows
With few weather issues so far this season, the typically volatile months of May through July have been unusually quiet for corn price action. Futures slipped last week and are now testing support near 391. A break below this level could shift focus to the August 2024 low near 360. On the upside, an unfilled gap at 413 is the first target, with resistance near 420 and a second gap at 430 if momentum builds.

From Barchart – World Corn Export Prices in U.S. Dollars per metric ton. Brazil (Blue), U.S. NOLA (White), Argentina (Red), Ukraine non-GMO (yellow)

Soybeans

2025 Crop:

  • Plan A:

    • Next cash sale at 1114 vs November.

    • Exit one-third of 1100 call options at 1085 vs November.

    • Exit remaining two-thirds of 1100 November call options at 88 cents.

  • Plan B:

    • No active targets.

  • Details:

    • Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.

    • Changes:

      • None. No change to the 1114 upside target despite recent market weakness; a hot, dry August may be needed to reach it. While uncommon, sizeable August rallies have occurred before.

2026 Crop:

  • Plan A: No active targets.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Still waiting on first targets for 2026 to post.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybean futures closed sharply lower, marking the fourth straight losing session. November contracts fell below $10.00 for the first time since early April, turning that level into potential resistance. Improved weather forecasts and continued demand concerns remain key bearish drivers.

  • Both soybean meal and bean oil ended lower, but soybean meal continues to lag due to a global surplus. China, in particular, has excess meal supplies for feed use, raising concerns about export demand for U.S. soybeans this fall.

  • With the 90-day U.S.-China tariff pause set to expire on August 12, officials are reportedly working to extend the agreement. However, progress on a broader trade deal remains elusive, and China’s limited cooperation casts doubt on their need for U.S. soybeans in the near term.

  • After factoring in import taxes, soybeans shipped from the U.S. Gulf are currently about $30/ton more expensive than Brazilian offerings. As a result, China has sourced nearly all of its soybean imports this year from Brazil and Argentina.

Soybeans Stuck in Sideways Range
Soybeans failed to clear key resistance at the May high of 1082 in mid-June, keeping the broader trend sideways. A break above the 100-day moving average would open the door to filling the gap left over the 4th of July weekend near 1050. On the downside, initial support sits near 1000, with stronger support at the April lows near 980.

From Barchart – World Soybean Export Prices in U.S. Dollars per metric ton. Brazil (Blue), U.S. NOLA (White), Argentina (Red)

Wheat

Market Notes: Wheat

  • Wheat futures closed mixed, with losses in Chicago and Minneapolis contracts, while Kansas City posted slight gains. Continued strength in the U.S. Dollar is weighing on the wheat complex. However, with all three classes near oversold technical levels, the market may be attempting to establish a bottom.

  • SovEcon increased its Russian wheat production forecast by 0.6 mmt to 83.6 mmt — just above USDA’s 83.5 mmt estimate. Russian wheat export projections were also lifted by 0.4 mmt to 43.3 mmt, though that remains below USDA’s 46 mmt outlook.

  • According to the Ukrainian agriculture ministry, their nation has exported 1.3 mmt of grain since July 1, when the season began. This represents a 62% decrease from the 3.43 mmt shipped during the same timeframe last year. Of that total, wheat accounted for 487,000 mt which is down 66% year on year.

  • LSEG has kept their 25/26 wheat production estimate for Ukraine unchanged at 20.7 mmt. Average temperatures and drier weather are expected to prevail for the next couple weeks, which should aid harvest. In related news a locust invasion is threatening crops in southern Ukraine. The extent of the damage is not known at this time but is believed to be mostly affecting their sunflower crop.

  • The International Grains Council has reported the Russian wheat harvest is 37% done, but production is running about 22% below last year so far. However, harvest has been mostly in southern regions so far and yields are expected to be better in the northern areas.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 633.50 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None. No active sales targets as still within the harvest window for SRW.

2026 Crop:

  • NEW ALERT – Buy July ‘26 550 Chicago wheat puts on a portion of your 2026 SRW crop for approximately 29 cents in premium, plus commission and fees.

  • Yesterday’s close below 588 support triggered this recommendation, as Grain Market Insider has been watching that level since early June as a Plan B signal to expand downside coverage on next year’s crop. This break of support puts 541 and 506 as the next potential downside risks. Using put options extends protection without committing additional physical bushels, while keeping the upside open should a bullish catalyst reverse wheat’s current trend.

  • Plan A:

    • Target 681 vs July ‘26 for the next sale.

  • Plan B:

    • Close below 588 support vs July ‘26 and buy put options (strikes TBD). – Hit 7/29.

  • Details:

    • Sales Recs: One sales recommendation made to date, at 624.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Holds Range; Watching 558 Resistance and 522.25 Support
Chicago wheat’s sharp rally in mid-June was short-lived, with futures pulling back toward the upper end of their 2025 trading range. Initial support is found at the 50-day moving average; a break below that level could open the door to a retest of the June low at 522.25. On the upside, a weekly close above 558 would be constructive and could set up a move back toward the recent highs near 590.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 653 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 618.

    • Changes:

      • None. With HRW harvest nearly complete, the window is opening for the next upside sales targets to post.

2026 Crop:

  • NEW ALERT – Buy July ‘26 540 KC wheat puts on a portion of your 2026 HRW crop for approximately 26 cents in premium, plus commission and fees.

  • Yesterday’s close below 584 support triggered this recommendation, as Grain Market Insider has been watching that level since early June as a Plan B signal to expand downside coverage on next year’s crop. This break of support puts 545 and 501 as the next potential downside risks. Using put options extends protection without committing additional physical bushels, while keeping the upside open should a bullish catalyst reverse wheat’s current trend.

  • Plan A:

    • Target 683 vs July ‘26 to make the first cash sale.

  • Plan B:

    • Close below 549 support vs July ‘26 to make the first cash sale.

    • Close below 584 support and buy July ‘26 put options (strikes TBD). – Hit 7/29.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Heads up that the July ‘26 contract is nearing the 584 Plan B stop, which if hit, would prompt buying July ‘26 put options.

To date, Grain Market Insider has issued the following KC recommendations:

KC Wheat Pulls Back Below Key Averages, Support at June Lows
KC wheat futures saw a strong rally in June, briefly testing the April highs near 580. However, late-month weakness pulled prices back below both the 100 and 200-day moving averages, which now serve as key resistance levels. On the downside, initial support is seen at the June low of 517.75, with secondary support near the May low around 500.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy KC call options if September KC closes over 653 macro resistance (strikes TBD).

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

      • FYI – KC options are used for better liquidity.

2026 Crop:

  • NEW ALERT – Buy July ‘26 540 KC wheat puts on a portion of your 2026 HRS crop for approximately 26 cents in premium, plus commission and fees.

  • Yesterday’s close below 584 support vs the July ‘26 KC contract triggered this recommendation, as Grain Market Insider has been watching that level since early June as a Plan B signal to expand downside coverage on next year’s crop. This break of support puts 545 and 501 as the next potential downside risks vs the July ‘26 KC futures contract. Using put options extends protection without committing additional physical bushels, while keeping the upside open should a bullish catalyst reverse wheat’s current trend. KC options are recommended as a cross-hedge given the high correlation between KC and Minneapolis wheat prices, and the higher liquidity in the KC options.

  • Plan A: No active targets.

  • Plan B:

    • Sell a second portion if September ‘26 closes below 639 support.

    • Close below 584 vs July ‘26 KC and buy July KC put options (strikes TBD).– Hit 7/29.

  • Details:

    • Sales Recs: One sales recommendation made to date, at a price of 678.75.

      • Changes:

        • None.

        • FYI – KC options are used for better liquidity.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Spring Wheat Futures Test Key Support After July Slide
Spring wheat futures have come under pressure in July, weighed down by improving crop conditions and generally favorable weather across key growing areas. Technically, a cluster of major moving averages just above the 600 mark presents the first layer of upside resistance, with a chart gap near 650 serving as a secondary target if momentum builds. On the downside, the May lows near 580 should provide firm support in the event of further weakness.

From Barchart – World Wheat Export Prices in U.S. Dollars per metric ton. Russia (Blue), U.S. PNW (White), Argentina (Red), Ukraine (Yellow)

Other Charts / Weather

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7-29 End of Day: Corn and Wheat Test Recent Lows

ByGrain Market Insider

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • 🌽 Corn: Corn futures ended lower, pressured by continued selling in the front-month September contract.

  • 🌱 Soybeans: Soybeans closed lower for the third straight session as August weather forecasts trend more moderate, easing supply concerns.

  • 🌾 Wheat: Wheat futures were lower across all three classes on Tuesday, pressured by a rising U.S. Dollar and a falling Russian Ruble.

  • To see updated U.S. weather maps scroll down to the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2025 Crop: 

  • Plan A:

    • Exit all 510 December calls @ 43-5/8 cents.

    • Exit half of the December 420 puts @ 43-3/4 cents.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.

    • Changes:

      • Target to exit a quarter of 420 puts at 411 has been cancelled.

2026 Crop: 

  • Plan A: Target 483 vs December ‘26 for the next sale.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Four sales recommendations have been made to date, with an average price of 462.

    • Changes:

      • None. The target remains 483 to make the next sale.

To date, Grain Market Insider has issued the following corn recommendations:

  • Lead by selling in the front month September contract, corn futures finished the day with moderate losses as sellers stayed in control as the market is looking for bullish news. September futures broke to new contract lows as the spread between September and December continues to widen, weighing on corn futures.

  • Trade negotiators from the U.S. and China, meeting in Stockholm, agreed to extend the current “trade truce,” though no formal trade agreement has been reached. Final approval rests with President Trump. If the extension is rejected, tariffs could revert to April levels — raising uncertainty around future ag trade.

  • As expected, the national corn crop rating declined 1 point to 73% good to excellent. While ratings in Southern states softened as crops near maturity, the key “I-states” (Iowa, Illinois, Indiana) each improved by 1 point. This remains the second-highest crop rating for this week in the past 10 years, trailing only 2016.

  • Brazil Ag agency, CONAB, estimated the second crop corn harvest in Brazil has reached 66% complete, up 11% on the week. Harvest pace has improved over the past few weeks with improved weather as Brazilian producers are harvesting a record second crop corn.

  • Forecasts into early August are calling for below-normal temperatures and normal to above-normal precipitation across most of the Corn Belt. These conditions are expected to support crop development as the crop moves past the pollination stages nationally.

Corn Futures Back Near Recent Lows
With few weather issues so far this season, the typically volatile months of May through July have been unusually quiet for corn price action. Futures slipped last week and are now testing support near 391. A break below this level could shift focus to the August 2024 low near 360. On the upside, an unfilled gap at 413 is the first target, with resistance near 420 and a second gap at 430 if momentum builds.

Corn condition percent good-excellent (red) versus the 5-year average (green) and last year (pink).

Soybeans

2025 Crop:

  • Plan A:

    • Next cash sale at 1114 vs November.

    • Exit one-third of 1100 call options at 1085 vs November.

    • Exit remaining two-thirds of 1100 November call options at 88 cents.

  • Plan B:

    • No active targets.

  • Details:

    • Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.

    • Changes:

      • None. No change to the 1114 upside target despite recent market weakness; a hot, dry August may be needed to reach it. While uncommon, sizeable August rallies have occurred before.

2026 Crop:

  • Plan A: No active targets.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Still waiting on first targets for 2026 to post.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the day lower for the third consecutive day as weather forecasts for August continue to trend to be more temperate. Traders are increasingly worried that the August WASDE could show higher-than-expected yields, raising the potential for a larger carryout amid continued weak export demand. Soybean meal was lower, while soybean oil gained alongside a strong rally in crude oil.

  • Monday’s Crop Progress report showed soybean conditions improving, with 70% rated good to excellent — up 2 points from last week and above last year’s 67%. The crop is now 76% blooming and 41% setting pods.

  • The 90-day tariff pause on Chinese goods is set to end on August 12, but today it was reported that US and Chinese officials would seek to extend this tariff truce. Unfortunately, it appears that a trade deal is not yet close, and China’s unwillingness to cooperate could signal that they will not be in great need of US soybeans this fall.

  • Yesterday, the USDA reported soybean inspections at 410,000 metric tons — above last week’s 377,000 tons and near the high end of trade expectations. Cumulative inspections are now running 10% ahead of last year.

Soybeans Stuck in Sideways Range
Soybeans failed to clear key resistance at the May high of 1082 in mid-June, keeping the broader trend sideways. A break above the 100-day moving average would open the door to filling the gap left over the 4th of July weekend near 1050. On the downside, initial support sits near 1000, with stronger support at the April lows near 980.

Soybeans condition percent good-excellent (red) versus the 5-year average (green) and last year (pink).

Wheat

Market Notes: Wheat

  • Wheat futures were lower across all three classes on Tuesday, pressured by a rising U.S. Dollar and a falling Russian Ruble. The Dollar hit its highest level in over a month, adding headwinds to the grain complex — wheat in particular.

  • According to the USDA’s crop progress report, winter wheat harvest is 80% complete, down 1% from both last year and the five-year average. As for spring wheat, the crop was rated 49% good to excellent, down 3% from last week. Additionally, 92% of that crop is headed, and harvest is just underway at 1% complete.

  • European Union 2025/26 soft wheat exports are off to a weak start, down 64% from last year at just 803,300 metric tons, compared to 2.25 mmt at the same point in 2024.

  • Brazilian wheat planting is nearing completion. According to CONAB, through July 19 an estimated 96.9% of the crop has been sown, which is in line with last year. And in the region of Parana, where planting is complete, 82% of the crop is said to be in good condition.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 633.50 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None. No active sales targets as still within the harvest window for SRW.

2026 Crop:

  • Plan A:

    • Target 681 vs July ‘26 for the next sale.

  • Plan B:

    • Close below 588 support vs July ‘26 and buy put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at 624.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Holds Range; Watching 558 Resistance and 522.25 Support
Chicago wheat’s sharp rally in mid-June was short-lived, with futures pulling back toward the upper end of their 2025 trading range. Initial support is found at the 50-day moving average; a break below that level could open the door to a retest of the June low at 522.25. On the upside, a weekly close above 558 would be constructive and could set up a move back toward the recent highs near 590.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 653 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 618.

    • Changes:

      • None. With HRW harvest nearly complete, the window is opening for the next upside sales targets to post.

2026 Crop:

  • Plan A:

    • Target 683 vs July ‘26 to make the first cash sale.

  • Plan B:

    • Close below 549 support vs July ‘26 to make the first cash sale.

    • Close below 584 support and buy July ‘26 put options (strikes TBD).

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Heads up that the July ‘26 contract is nearing the 584 Plan B stop, which if hit, would prompt buying July ‘26 put options.

To date, Grain Market Insider has issued the following KC recommendations:

KC Wheat Pulls Back Below Key Averages, Support at June Lows
KC wheat futures saw a strong rally in June, briefly testing the April highs near 580. However, late-month weakness pulled prices back below both the 100 and 200-day moving averages, which now serve as key resistance levels. On the downside, initial support is seen at the June low of 517.75, with secondary support near the May low around 500.

Winter wheat percent harvested (red) versus the 5-year average (green) and last year (purple).

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy KC call options if September KC closes over 653 macro resistance (strikes TBD).

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

      • FYI – KC options are used for better liquidity.

2026 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Sell a second portion if September ‘26 closes below 639 support.

    • Close below 584 vs July ‘26 KC and buy July KC put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at a price of 678.75.

      • Changes:

        • None.

        • FYI – KC options are used for better liquidity.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Spring Wheat Futures Test Key Support After July Slide
Spring wheat futures have come under pressure in July, weighed down by improving crop conditions and generally favorable weather across key growing areas. Technically, a cluster of major moving averages just above the 600 mark presents the first layer of upside resistance, with a chart gap near 650 serving as a secondary target if momentum builds. On the downside, the May lows near 580 should provide firm support in the event of further weakness.

Spring wheat condition percent good-excellent (red) versus the 5-year average (green) and last year (pink).

Other Charts / Weather

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7-28 End of Day: Grains start the week mostly lower

ByGrain Market Insider

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  •  🌽 Corn: Corn futures started the week with modest losses as a less threatening weather outlook and expectations for a large fall harvest weighed on prices. The front-month September contract tested recent lows but held support.

  • 🌱 Soybeans: Soybeans finished lower for the second straight session, closing below all major moving averages. Weekend weather forecasts turned slightly less threatening, with more moderate temperatures and improved rain chances into August.

  • 🌾 Wheat: Wheat futures showed relative strength to start the week. Despite weakness in corn and soybeans and a sharply higher U.S. Dollar Index, Chicago wheat managed a small gain, while Kansas City and Minneapolis posted only minor losses.

  • To see updated U.S. weather maps scroll down to the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2025 Crop: 

  • Plan A:

    • Exit all 510 December calls @ 43-5/8 cents.

    • Exit half of the December 420 puts @ 43-3/4 cents.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.

    • Changes:

      • Target to exit a quarter of 420 puts at 411 has been cancelled.

2026 Crop: 

  • Plan A: Target 483 vs December ‘26 for the next sale.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Four sales recommendations have been made to date, with an average price of 462.

    • Changes:

      • None. The target remains 483 to make the next sale.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures started the week with modest losses as a less threatening weather outlook and expectations for a large fall harvest weighed on prices. The front-month September contract tested recent lows but held support. Still, the weak close leaves the market vulnerable to further selling.

  • USDA announced flash export sales of corn on Monday morning. Mexico purchased 225,000 MT (8.9 mb) of corn for the 2025-26 marketing year. In addition, Unknown destinations purchased 229,000 MT (9.0 mb) of corn, split with 35,000 MT (1.4 mb) for 2024-25 and 194,000 MT (7.6 mb) for 2025-26.

  • Weekly corn export inspections totaled 1.522 MMT for the week ending July 24, near the high end of expectations. Total inspections are running 29% ahead of last year. With the marketing year ending August 30, exporters still need to ship 9.9 MMT in existing sales commitments.

  • Forecasts into early August are calling for below-normal temperatures and normal to above-normal precipitation across most of the Corn Belt. These conditions are expected to support crop development as pollination wraps up.

  • In a move to support domestic farmers, Argentine President Milei announced a reduction in corn export taxes from 12% to 9.5%. The cut could make Argentine corn more competitive on the global market.

Corn Futures Back Near Recent Lows
With few weather issues so far this season, the typically volatile months of May through July have been unusually quiet for corn price action. Futures slipped last week and are now testing support near 391. A break below this level could shift focus to the August 2024 low near 360. On the upside, an unfilled gap at 413 is the first target, with resistance near 420 and a second gap at 430 if momentum builds.

Corn Managed Money Funds net position as of Tuesday, July 22. Net position in Green versus price in Red. Money Managers net sold 2,610 contracts between July 15- July 22, bringing their total position to a net short 177,365 contracts.

Soybeans

2025 Crop:

  • Plan A:

    • Next cash sale at 1114 vs November.

    • Exit one-third of 1100 call options at 1085 vs November.

    • Exit remaining two-thirds of 1100 November call options at 88 cents.

  • Plan B:

    • No active targets.

  • Details:

    • Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.

    • Changes:

      • None. No change to the 1114 upside target despite recent market weakness; a hot, dry August may be needed to reach it. While uncommon, sizeable August rallies have occurred before.

2026 Crop:

  • Plan A: No active targets.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Still waiting on first targets for 2026 to post.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the day lower for the second consecutive day and closed below all major moving averages. Weather forecasts over the weekend shifted to be slightly less severe, going into August with more moderate temperatures and better chances for rain. Export inspections were not supportive, and there are concerns that demand will not keep up with the larger crop that is expected. Soybean meal led the complex lower while bean oil was higher.

  • USDA reported soybean inspections at 410,000 metric tons — above last week’s 377,000 tons and near the high end of trade expectations. Cumulative inspections are now running 10% ahead of last year.

  • China booked 22 to 25 soybean cargoes last week, all from Brazil. Year-to-date, Brazil has shipped 284 cargoes to China, Argentina 84, and none from the U.S. — raising further concern about export demand.

  • Friday’s CFTC report saw funds as buyers of soybeans by 21,412 contracts which reduced their net short position to 10,866 contracts. They bought back 12,105 contracts of bean oil leaving them long 55,326 contracts and bought 3,273 contracts of meal reducing their net short position to 129,743 contracts.

Soybeans Stuck in Sideways Range
Soybeans failed to clear key resistance at the May high of 1082 in mid-June, keeping the broader trend sideways. A break above the 100-day moving average would open the door to filling the gap left over the 4th of July weekend near 1050. On the downside, initial support sits near 1000, with stronger support at the April lows near 980.

Soybean Managed Money Funds net position as of Tuesday, July 22. Net position in Green versus price in Red. Money Managers net bought 21,412 contracts between July 15 – July 22, bringing their total position to a net short 10,866 contracts.

Wheat

Market Notes: Wheat

  • Wheat futures showed relative strength to start the week. Despite weakness in corn and soybeans and a sharply higher U.S. Dollar Index, Chicago wheat managed a small gain, while Kansas City and Minneapolis posted only minor losses. Bullish key reversals in September and December Paris milling wheat offered support, and fund buying may have played a role — Friday’s CFTC report showed net short positions were reduced by 14% in Chicago and 8.4% in Kansas City.

  • Weekly wheat inspections totaled just 10.6 mb, falling short of the 16 mb weekly pace needed to meet USDA’s export forecast. Still, total inspections at 122 mb are running 6% ahead of last year.

  • The Ukrainian economy ministry has reported that their nation has harvested 10.3 mmt of grain this season. This is 45% under the 19.0 mmt collected at the same time last year. Wheat harvest in particular has reached 7.1 mmt versus 14.7 mmt a year ago.

  • The USDA ag attaché to Australia reported that widespread early July rains have improved wheat crop prospects in southern regions. With the extended forecast calling for continued favorable moisture, above-average wheat production is now expected.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 633.50 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None. No active sales targets as still within the harvest window for SRW.

2026 Crop:

  • Plan A:

    • Target 681 vs July ‘26 for the next sale.

  • Plan B:

    • Close below 588 support vs July ‘26 and buy put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at 624.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Holds Range; Watching 558 Resistance and 522.25 Support
Chicago wheat’s sharp rally in mid-June was short-lived, with futures pulling back toward the upper end of their 2025 trading range. Initial support is found at the 50-day moving average; a break below that level could open the door to a retest of the June low at 522.25. On the upside, a weekly close above 558 would be constructive and could set up a move back toward the recent highs near 590.

Chicago Wheat Managed Money Funds’ net position as of Tuesday, July 22. Net position in Green versus price in Red. Money Managers net bought 8,446 contracts between July 15 – July 22, bringing their total position to a net short 52,041 contracts.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 653 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 618.

    • Changes:

      • None. With HRW harvest nearly complete, the window is opening for the next upside sales targets to post.

2026 Crop:

  • Plan A:

    • Target 683 vs July ‘26 to make the first cash sale.

  • Plan B:

    • Close below 549 support vs July ‘26 to make the first cash sale.

    • Close below 584 support and buy July ‘26 put options (strikes TBD).

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Heads up that the July ‘26 contract is nearing the 584 Plan B stop, which if hit, would prompt buying July ‘26 put options.

To date, Grain Market Insider has issued the following KC recommendations:

KC Wheat Pulls Back Below Key Averages, Support at June Lows
KC wheat futures saw a strong rally in June, briefly testing the April highs near 580. However, late-month weakness pulled prices back below both the 100 and 200-day moving averages, which now serve as key resistance levels. On the downside, initial support is seen at the June low of 517.75, with secondary support near the May low around 500.

KC Wheat Managed Money Funds’ net position as of Tuesday, July 22. Net position in Green versus price in Red. Money Managers net bought 4,043 contracts between July 15– July 22, bringing their total position to a net short 43,959 contracts.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy KC call options if September KC closes over 653 macro resistance (strikes TBD).

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

      • FYI – KC options are used for better liquidity.

2026 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Sell a second portion if September ‘26 closes below 639 support.

    • Close below 584 vs July ‘26 KC and buy July KC put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at a price of 678.75.

      • Changes:

        • None.

        • FYI – KC options are used for better liquidity.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Spring Wheat Futures Test Key Support After July Slide
Spring wheat futures have come under pressure in July, weighed down by improving crop conditions and generally favorable weather across key growing areas. Technically, a cluster of major moving averages just above the 600 mark presents the first layer of upside resistance, with a chart gap near 650 serving as a secondary target if momentum builds. On the downside, the May lows near 580 should provide firm support in the event of further weakness.

Minneapolis Wheat Managed Money Funds’ net position as of Tuesday, July 22. Net position in Green versus price in Red. Money Managers net sold 10,291 contracts between July 15 – July 22, bringing their total position to a net short 11,288 contracts.

Other Charts / Weather

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7-25 End of Day: Grains Close Lower Across the Board to End the Week

ByGrain Market Insider

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • 🌽 Corn: The corn market ultimately ended the week lower, continuing to face pressure from favorable weather forecasts across key growing regions.

  • 🌱 Soybeans: Soybeans ended the week with losses despite this morning’s export sales announcement, which included a purchase by Mexico, as the market continues to face pressure from ongoing demand concerns stemming from the absence of Chinese buying.

  • 🌾 Wheat: Wheat was not exempt from today’s market trends, closing lower alongside corn and soybeans, as it faced downward pressure from a strengthening U.S. dollar.

  • To see updated U.S. weather maps scroll down to the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2025 Crop: 

  • Plan A:

    • Exit all 510 December calls @ 43-5/8 cents.

    • Exit half of the December 420 puts @ 43-3/4 cents.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.

    • Changes:

      • Target to exit a quarter of 420 puts at 411 has been cancelled.

2026 Crop: 

  • Plan A: Target 483 vs December ‘26 for the next sale.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Four sales recommendations have been made to date, with an average price of 462.

    • Changes:

      • None. The target remains 483 to make the next sale.

To date, Grain Market Insider has issued the following corn recommendations:

  • The corn market saw selling pressure to end the week as option expiration; favorable forecasts pressured the market, despite the announced corn export sales this morning. December corn finished the week 8 ¾ cent lower.

  • August corn options expired on Friday, and the market seemed pinned to the areas on larges open interest, which was the 400 September price and $420 in December.

  • Weather forecasts heading into early August remain largely non-threatening for corn crop development. The latest 8–14 day outlook calls for below-normal temperatures and normal to slightly above-normal precipitation across much of the Corn Belt.

  • USDA announced two export flash sales of corn on Thursday morning. USDA announced a sale of 4.1 mb of corn to Mexico and 5.5 mb of corn to South Korea for the 2025-26 marketing year.

Corn Futures Attempt Rebound with Bullish Reversal
Corn futures show signs of recovery mid-July, posting a bullish key reversal to start last week. An unfilled gap near 413 is the first upside target, followed by a gap at 430 if 420 is cleared. On the downside, support rests at last week’s low of 391.

Soybeans

2025 Crop:

  • Plan A:

    • Next cash sale at 1114 vs November.

    • Exit one-third of 1100 call options at 1085 vs November.

    • Exit remaining two-thirds of 1100 November call options at 88 cents.

  • Plan B:

    • No active targets.

  • Details:

    • Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.

    • Changes:

      • None. No change to the 1114 upside target despite recent market weakness; a hot, dry August may be needed to reach it. While uncommon, sizeable August rallies have occurred before.

2026 Crop:

  • Plan A: No active targets.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Still waiting on first targets for 2026 to post.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the day lower going into the weekend with the November contract closing below all major moving averages with the 200-day now acting as resistance. Although trade deals and flash sales have occurred this week, market attention remains primarily focused on weather conditions, which have thus far been favorable for the crop. Both soybean meal and oil were lower as well.

  • The USDA announced an export sale for soybeans on Friday morning. Mexico stepped into the soybean export market and purchased 5.24 mb of soybeans for the 2025-26 marketing year.

  • Though early in the soybean export campaign, 2025-26 soybean export sales have fallen behind the early pace set last year in the 2024-25 marketing year. With competition from heavy global supplies and the absence of China from the new crop soybean export market, demand concerns will limit price rallies.

  • For the week, August soybeans lost 29 cents closing at $9.98-3/4 while November soybeans lost 14-3/4 cents at $10.21. August soybean meal lost $6.20 to $267.80, but soybean oil managed to close higher by 0.67 cents to 56.49 cents. The trend with lower meal and higher soybean oil has gone on since August of 2024.

Soybeans Find Support Near $10
Soybeans failed to break above key resistance at the May high of 1082 in mid-June, keeping the broader trend sideways. If soybeans can breach the 100-day moving average the next upside target would be the gap left over the 4th of July weekend near 1050. Support found last week near 1000 will be the first line of defense on a pullback with the April lows near 980 as stronger support.

Wheat

Market Notes: Wheat

  • The grain complex remained under pressure, and wheat was no exception. U.S. wheat futures closed lower in tandem with Paris milling wheat, while a stronger U.S. dollar provided no support. The weakness in HRS contracts is somewhat surprising, given the USDA’s estimate of 43% of spring wheat areas are now in drought, up 7% from last week, and alongside reduced yield estimates for North Dakota. It is likely that technical momentum is keeping wheat under pressure for the time being.

  • The final North Dakota spring wheat yield, as evaluated by the Wheat Quality Council’s crop tour, was pegged at 49 bpa. This compares with last year’s 54.5 bpa and comes after sampling 292 fields. This also falls well short of the current USDA estimate of 59 bpa.

  • The Buenos Aires Grain Exchange has reported Argentine wheat sowing is 95.9% complete. This is a 3.1% increase from the week before. As it wraps up, an estimated 6.7 million hectares will be planted in total, up from 6.3 million last year.

  • The European Commission has updated their estimate of total EU 25/26 grain production, dropping it from 282.9 mmt in June to 278.4 mmt this month. This is largely due to expectations for a smaller corn crop. However, the soft wheat estimate did also decline from 128.2 to 127.3 mmt.

  • In a report from the USDA-FAS, the US ag attaché to Canada noted that their 25/26 wheat production could face risks due to drought. Wheat conditions in key growing regions are said to be subpar. Additionally, the FAS is forecasting total Canadian wheat production at 35.15 mmt, which would be just above last year’s production of 35.0 mmt; Statistics Canada will be out with their first production estimates of the year on August 28.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 633.50 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None. No active sales targets as still within the harvest window for SRW.

2026 Crop:

  • Plan A:

    • Target 681 vs July ‘26 for the next sale.

  • Plan B:

    • Close below 588 support vs July ‘26 and buy put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at 624.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Holds Range; Watching 558 Resistance and 522.25 Support
Chicago wheat’s sharp rally in mid-June was short-lived, with futures pulling back toward the upper end of their 2025 trading range. Initial support is found at the 50-day moving average; a break below that level could open the door to a retest of the June low at 522.25. On the upside, a weekly close above 558 would be constructive and could set up a move back toward the recent highs near 590.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 653 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 618.

    • Changes:

      • None. With HRW harvest nearly complete, the window is opening for the next upside sales targets to post.

2026 Crop:

  • Plan A:

    • Target 683 vs July ‘26 to make the first cash sale.

  • Plan B:

    • Close below 549 support vs July ‘26 to make the first cash sale.

    • Close below 584 support and buy July ‘26 put options (strikes TBD).

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Heads up that the July ‘26 contract is nearing the 584 Plan B stop, which if hit, would prompt buying July ‘26 put options.

To date, Grain Market Insider has issued the following KC recommendations:

KC Wheat Pulls Back Below Key Averages, Support at June Lows
KC wheat futures saw a strong rally in June, briefly testing the April highs near 580. However, late-month weakness pulled prices back below both the 100 and 200-day moving averages, which now serve as key resistance levels. On the downside, initial support is seen at the June low of 517.75, with secondary support near the May low around 500.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy KC call options if September KC closes over 653 macro resistance (strikes TBD).

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

      • FYI – KC options are used for better liquidity.

2026 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Sell a second portion if September ‘26 closes below 639 support.

    • Close below 584 vs July ‘26 KC and buy July KC put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at a price of 678.75.

      • Changes:

        • None.

        • FYI – KC options are used for better liquidity.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Spring Wheat Futures Test Key Support After July Slide
Spring wheat futures have come under pressure in July, weighed down by improving crop conditions and generally favorable weather across key growing areas. Technically, a cluster of major moving averages just above the 600 mark presents the first layer of upside resistance, with a chart gap near 650 serving as a secondary target if momentum builds. On the downside, the May lows near 580 should provide firm support in the event of further weakness.

Other Charts / Weather

|

7-24 End of Day: Positive Trade Developments Lift Corn, Soybeans, and Wheat

ByGrain Market Insider

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • 🌽 Corn: Recent trade developments gave a boost to the corn market today, with corn contracts closing higher across the board.

  •  🌱 Soybeans: Soybeans ended the day higher despite a lackluster export report, as new trade developments provided enough support to keep prices in the green.

  • 🌾 Wheat: Wheat markets closed mixed today on fairly favorable weather across key growing regions and a generally positive export report.

  • To see the updated U.S. 7-day precipitation forecast as well as the Brazil and Argentina one-week forecast total precipitation courtesy of the National Weather Service, Climate Prediction Center and NOAA scroll down to the other Charts/Weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2025 Crop: 

  • Plan A:

    • Exit all 510 December calls @ 43-5/8 cents.

    • Exit half of the December 420 puts @ 43-3/4 cents.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.

    • Changes:

      • Target to exit a quarter of 420 puts at 411 has been cancelled.

2026 Crop: 

  • Plan A: Target 483 vs December ‘26 for the next sale.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Four sales recommendations have been made to date, with an average price of 462.

    • Changes:

      • None. The target remains 483 to make the next sale.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures closed higher today, supported by recent trade deal announcements and technical support levels. September futures closed back above the $4.00 level while the December contract looks to have found support near $4.15.

  • Weekly export sales for corn came in at 54 mb. Year-to-date commitments now total 2.760 billion bushels, which is up 27% from a year ago.

  • The USDA reported a correction of a previous export sale of 135k mt of U.S. corn to China. That sale was actually sold to South Korea, not China. Along with that sale the USDA also announced the sale of 285k mt of U.S. corn sold to unknown destinations.

  • Weather will continue to be the main driver of price action for corn futures. Recent rainfall across the corn belt has pressured prices recently. The 8-14 day outlook shows additional precipitation could be on the way for much of the Western belt, which may add some more downside risk for corn prices.

Corn Futures Attempt Rebound with Bullish Reversal
Corn futures show signs of recovery mid-July, posting a bullish key reversal to start last week. An unfilled gap near 413 is the first upside target, followed by a gap at 430 if 420 is cleared. On the downside, support rests at last week’s low of 391.

Soybeans

2025 Crop:

  • Plan A:

    • Next cash sale at 1114 vs November.

    • Exit one-third of 1100 call options at 1085 vs November.

    • Exit remaining two-thirds of 1100 November call options at 88 cents.

  • Plan B:

    • No active targets.

  • Details:

    • Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.

    • Changes:

      • None. No change to the 1114 upside target despite recent market weakness; a hot, dry August may be needed to reach it. While uncommon, sizeable August rallies have occurred before.

2026 Crop:

  • Plan A: No active targets.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Still waiting on first targets for 2026 to post.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans were higher to end the day after trading either side of unchanged throughout the session. Export sales were not particularly supportive, but ongoing trade deals both closed and still in negotiations were supportive. Expectations for large yields have kept prices from rallying on export news.

  • While soybean meal was lower to end the day, soybean oil was higher following crude oil. The general trend over the last few months has been gains in soybean oil and decreased in soybean meal prices as the country shifts to stronger demand for biofuels. This leads to larger soybean crush numbers but also creates a glut of soybean meal.

  • Today’s export sales were at the low end of trade expectations with increases of 5.9 million bushels in 24/25, and an increase of 8.8 million bushels for 25/26. Primary destinations were to the Netherlands, Mexico, and Egypt. Last week’s export shipments of 13.3 mb were below the 17.1 mb needed each week to meet the USDA’s export estimates.

  • Expectations for a large crop and softening demand continue to weigh on new-crop balance sheets. Some analysts project 2025/26 U.S. soybean ending stocks could rise to 510 million bushels — well above the USDA’s July estimate of 310 million — amid weaker domestic demand and export uncertainty.

Soybeans Find Support Near $10
Soybeans failed to break above key resistance at the May high of 1082 in mid-June, keeping the broader trend sideways. If soybeans can breach the 100-day moving average the next upside target would be the gap left over the 4th of July weekend near 1050. Support found last week near 1000 will be the first line of defense on a pullback with the April lows near 980 as stronger support.

Wheat

Market Notes: Wheat

  • Wheat saw a mixed close today, with Chicago and Kansas City contracts ending steady to higher, while Minneapolis posted modest losses. A lack of fresh, market-moving news and another negative session for Matif wheat likely limited upside potential for the U.S. market.

  • The USDA reported an increase of 26.2 mb of wheat export sales for 25/26. Shipments last week totaled 28.0 mb, which exceeded the 16.7 mb pace needed per week to reach their goal of 850 mb. Total 25/26 wheat sales commitments have reached 329 mb, which is up 12% from last year.

  • The second day of the Wheat Quality Council crop tour found an average North Dakota spring wheat yield of 47.1 bpa after sampling 139 fields. This is down 12% from the 53.7 bpa found on the second day a year ago. The USDA is estimating North Dakota’s spring wheat yield at 59 bpa.

  • According to their food secretary, India’s domestic wheat price and supply are at “comfortable levels”, with no need for the government to sell from state reserves into the open market. It is worth noting that India has done this in the past to combat inflation and high food prices.

  • Over the past couple of weeks, decent rainfall across the southern Canadian Prairies has helped ease early-season dryness and reduce crop stress. As a result, spring wheat production estimates have remained steady.

  • The Argentine ministry of agriculture has reported national wheat planting at 92% complete versus 93% at this time last year. Additionally, recent rains and improved soil moisture have led to some increased production estimates, with one private firm projecting a 1% increase in the crop to 20.2 mmt. For reference, the USDA is estimating Argentina’s wheat harvest at 20 mmt.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 633.50 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None. No active sales targets as still within the harvest window for SRW.

2026 Crop:

  • Plan A:

    • Target 681 vs July ‘26 for the next sale.

  • Plan B:

    • Close below 588 support vs July ‘26 and buy put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at 624.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Holds Range; Watching 558 Resistance and 522.25 Support
Chicago wheat’s sharp rally in mid-June was short-lived, with futures pulling back toward the upper end of their 2025 trading range. Initial support is found at the 50-day moving average; a break below that level could open the door to a retest of the June low at 522.25. On the upside, a weekly close above 558 would be constructive and could set up a move back toward the recent highs near 590.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 653 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 618.

    • Changes:

      • None. With HRW harvest nearly complete, the window is opening for the next upside sales targets to post.

2026 Crop:

  • Plan A:

    • Target 683 vs July ‘26 to make the first cash sale.

  • Plan B:

    • Close below 549 support vs July ‘26 to make the first cash sale.

    • Close below 584 support and buy July ‘26 put options (strikes TBD).

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None. Heads up that the July ‘26 contract is nearing the 584 Plan B stop, which if hit, would prompt buying July ‘26 put options.

To date, Grain Market Insider has issued the following KC recommendations:

KC Wheat Pulls Back Below Key Averages, Support at June Lows
KC wheat futures saw a strong rally in June, briefly testing the April highs near 580. However, late-month weakness pulled prices back below both the 100 and 200-day moving averages, which now serve as key resistance levels. On the downside, initial support is seen at the June low of 517.75, with secondary support near the May low around 500.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy KC call options if September KC closes over 653 macro resistance (strikes TBD).

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

      • FYI – KC options are used for better liquidity.

2026 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Sell a second portion if September ‘26 closes below 639 support.

    • Close below 584 vs July ‘26 KC and buy July KC put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at a price of 678.75.

      • Changes:

        • None.

        • FYI – KC options are used for better liquidity.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Spring Wheat Futures Test Key Support After July Slide
Spring wheat futures have come under pressure in July, weighed down by improving crop conditions and generally favorable weather across key growing areas. Technically, a cluster of major moving averages just above the 600 mark presents the first layer of upside resistance, with a chart gap near 650 serving as a secondary target if momentum builds. On the downside, the May lows near 580 should provide firm support in the event of further weakness.

Other Charts / Weather

Above: US 7-day precipitation forecast courtesy of NOAA, Weather Prediction Center.

Above: Brazil and Argentina one-week forecast total precipitation courtesy of the National Weather Service, Climate Prediction Center.

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7-23 End of Day: Weather Trumps Trade: Grains Drift Lower

ByGrain Market Insider

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • 🌽 Corn: Corn futures closed lower Wednesday, weighed down by favorable weather forecasts across key growing regions that continue to reinforce expectations for a record-large crop. Despite recent trade deal headlines and overnight developments, weather remains the dominant market driver.

  •  🌱 Soybeans: Soybeans ended lower Tuesday, retreating from early session highs sparked by trade optimism. Gains were initially fueled by news of a trade agreement with Japan and a potential deal with the Philippines.

  • 🌾 Wheat: Wheat futures finished lower across all classes Tuesday, pressured by a pullback in Matif wheat and technical selling after encountering resistance at key moving averages.

  • To see the updated U.S weather forecast maps, scroll down to the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2025 Crop: 

  • Plan A:

    • Exit all 510 December calls @ 43-5/8 cents.

    • Exit half of the December 420 puts @ 43-3/4 cents.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.

    • Changes:

      • None.

2026 Crop: 

  • Plan A: Target 483 vs December ‘26 for the next sale.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Four sales recommendations have been made to date, with an average price of 462.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures closed lower today, pressured by favorable weather forecasts across key growing regions, which continue to reinforce expectations for a record-breaking harvest. The market also struggled to build momentum following yesterday’s trade deal announcements and overnight developments, as favorable weather continues to take precedence over potential demand drivers. The lead month September contract remains below the psychological 400 price level.

  • Traders remain cautious regarding the U.S.-Japan trade agreement, as Japan is already a major buyer of U.S. corn. In 2024, Japan ranked as the second-largest customer, importing $2.7 billion worth of corn. However, with few concrete details available, it remains unclear whether the deal will spur additional demand or simply formalize existing trade flows.

  • Ethanol production for the week ending July 18 slightly declined to 1.078 million barrels per day, down from 1.087 million the previous week, marking a 1.6% year-over-year decrease. The production process consumed 15.37 million bushels of corn per day, exceeding the 15.3 million bushels per day pace needed to meet the USDA’s annual target. Year-to-date corn usage for ethanol production now totals 4.827 billion bushels.

  • Ethanol stocks rose to 24.44 million barrels, marking a 3.4% increase compared to the same period last year. The build in stocks suggest that no changes are expected to the USDA’s corn usage forecast in the upcoming WASDE report.

Corn Futures Attempt Rebound with Bullish Reversal
Corn futures show signs of recovery mid-July, posting a bullish key reversal to start last week. An unfilled gap near 413 is the first upside target, followed by a gap at 430 if 420 is cleared. On the downside, support rests at last week’s low of 391.

Above: From Barchart – World Corn Export Prices in U.S. Dollars per metric ton. Brazil (Blue), U.S. NOLA (White), Argentina (Red), Ukraine non-GMO (yellow)

Soybeans

2025 Crop:

  • Plan A:

    • Next cash sale at 1114 vs November.

    • Exit one-third of 1100 call options at 1085 vs November.

    • Exit remaining two-thirds of 1100 November call options at 88 cents.

  • Plan B:

    • No active targets.

  • Details:

    • Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.

    • Changes:

      • None.

2026 Crop:

  • Plan A: No active targets.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the day lower after falling from highs earlier in the day. The initial run higher was a result of a trade agreement with Japan and a deal in the works with the Philippines. Although August is expected to be hot and on the drier side, forecasts have slowly shifted to be slightly more favorable for growing conditions.

  • Expectations for a large crop and softening demand continue to weigh on new-crop balance sheets. Some analysts project 2025/26 U.S. soybean ending stocks could rise to 510 million bushels — well above the USDA’s July estimate of 310 million — amid weaker domestic demand and export uncertainty.

  • In China, soybean imports from Brazil have reportedly risen by 9.2% from the previous year. This was driven by a strong Brazilian harvest along with the ongoing U.S. trade war. Last month, China imported 86.6% of their total imports from Brazil alone.

  • While Monday’s Crop Progress report saw soybean good to excellent ratings fall by 2 points to 68%, this is still a strong number historically. August weather will be a key factor and forecasts continue to fluctuate. States where crop conditions have fallen have primarily been Kansas and North Dakota.

Soybeans Find Support Near $10
Soybeans failed to break above key resistance at the May high of 1082 in mid-June, keeping the broader trend sideways. If soybeans can breach the 100-day moving average the next upside target would be the gap left over the 4th of July weekend near 1050. Support found last week near 1000 will be the first line of defense on a pullback with the April lows near 980 as stronger support.

Above: From Barchart – World Soybean Export Prices in U.S. Dollars per metric ton. Brazil (Blue), U.S. NOLA (White), Argentina (Red)

Wheat

Market Notes: Wheat

  • Wheat futures finished lower across all classes Tuesday, pressured by a pullback in Matif wheat and technical selling after encountering resistance at key moving averages. The weakness came despite a new U.S.-Japan trade agreement, which, while centered on the auto sector, includes agricultural products and raises hopes for future trade deals.

  • Day one of the Wheat Quality Council’s spring wheat tour reported average yields of 50 bushels per acre in North Dakota after 167 fields were sampled. That’s down slightly from last year’s 52.5 bpa and well below the USDA’s forecast of 59 bpa, offering early insight into potential production shortfalls.

  • According to LSEG commodities research, 25/26 European Union and United Kingdom combined wheat production is estimated at 147.9 mmt, which is a 1.2% boost from their last projection. Recently, central Europe has seen favorable rains, which is cited as the reason for the increase.

  • FranceAgriMer has reported that 71% of the French soft wheat crop has been harvested as of July 14. Favorable weather has allowed the pace of fieldwork to pick up recently. In related news, The International Grain Council said that Russia’s wheat harvest is 28% complete – they also noted that so far, production is down 30% from 2024.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 633.50 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

2026 Crop:

  • Plan A:

    • Target 681 vs July ‘26 for the next sale.

  • Plan B:

    • Close below 588 support vs July ‘26 and buy put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at 624.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Returns to Recent Range
Chicago wheat’s sharp mid-June rally proved short-lived, with futures retreating to the upper end of the 2025 range. Initial support lies at the 50-day moving average, with a break targeting the June low of 522.25. On the upside, a weekly close above 558 could open the door for a retest of the recent highs near 590.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 653 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 618.

    • Changes:

      • None.

2026 Crop:

  • Plan A:

    • Target 688 vs July ‘26 to make the first cash sale.

  • Plan B:

    • Close below 549 support vs July ‘26 and sell more cash.

    • Close below 584 support and buy July ‘26 put options (strikes TBD).

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • The 688 target has been lowered to 683.

To date, Grain Market Insider has issued the following KC recommendations:

Kansas City Wheat Back Near Support
Strength in June pushed KC wheat futures to their highest level in months, testing the April highs near 580. Weakness late in June sent futures back below both the 100- and 200-day moving averages which should now act as resistance. First support should appear at the June low of 517.75.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy KC call options if September KC closes over 653 macro resistance (strikes TBD).

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

      • FYI – KC options are used for better liquidity.

2026 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Sell a second portion if September ‘26 closes below 639 support.

    • Close below 584 vs July ‘26 KC and buy July KC put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at a price of 678.75.

      • Changes:

        • None.

        • FYI – KC options are used for better liquidity.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Spring Wheat Holds Above Support
Spring wheat futures held above the upper end of their prior range for most of June, supported by a confluence of major moving averages. The June high near 665 is the next upside target. Key support lies at the 200-day moving average around 607, with a close below that level — and especially under the May low of 572.50 — likely opening the door to increased downside risk.

Above: Spring wheat condition percent good-excellent (red) versus the 5-year average (green) and last year (pink).

Other Charts / Weather

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7-22 End of Day: Grains End Mixed as Traders Digest Yesterday’s Crop Progress Report

ByGrain Market Insider

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • 🌽 Corn: Pressure remains on the corn market, which ended the day with losses for the second consecutive session. The decline was driven by favorable weather forecasts and strong crop conditions across the U.S.

  •  🌱 Soybeans: Soybeans ended the day lower as traders digested yesterday’s USDA Crop Progress report and continued to monitor ongoing trade tensions between the U.S. and China.

  • 🌾 Wheat: Wheat was the only major grain to post gains on Tuesday, supported by Monday’s Crop Progress report and a weaker U.S. dollar.

  • To see the updated U.S weather forecast maps, scroll down to the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2025 Crop: 

  • Plan A:

    • Exit all 510 December calls @ 43-5/8 cents.

    • Exit half of the December 420 puts @ 43-3/4 cents.

    • Exit one-quarter of the December 420 puts if December closes at 411 or lower.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.

    • Changes:

      • None.

2026 Crop: 

  • Plan A: Target 483 vs December ‘26 for the next sale.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Four sales recommendations have been made to date, with an average price of 462.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures fell for a second straight session, pressured by strong crop ratings and favorable weather forecasts, leading to moderate losses across the market. The lead month September contract closed back below the psychological 400 price level.

  • Weekly crop ratings for corn remain unchanged at 74% G/E. Ratings would have likely improved, but rating drops in Colorado and Pennsylvania limited any movement. Regardless, this is the best rated corn since 2016. The final yield in 2016 finished 3.9% above the trend line yield to start the marketing year.

  • Weather forecasts continue to moderate heading into August, adding pressure to the grain markets. Following a stretch of above-normal temperatures, early August outlooks are now calling for below-normal readings, which should reduce crop stress and support kernel fill.

  • South Korea’s Mill Feed Group is looking to purchase corns and current bids for export corn for fall delivery have Brazil and Argentina prices at a discount to the U.S.

  • Brazil corn harvest has been picking up speed, supported by improved weather. As of July 19, the second crop corn harvest was 55.5% complete, up nearly 14% over last week, but still well behind the 5-year average. Recently, wet weather and the logistics of handling a record corn crop have limited harvest progress..

Corn Futures Attempt Rebound with Bullish Reversal
Corn futures show signs of recovery mid-July, posting a bullish key reversal to start last week. An unfilled gap near 413 is the first upside target, followed by a gap at 430 if 420 is cleared. On the downside, support rests at last week’s low of 391.

Corn condition percent good-excellent (red) versus the 5-year average (green) and last year (pink).

Soybeans

2025 Crop:

  • Plan A:

    • Next cash sale at 1114 vs November.

    • Exit one-third of 1100 call options at 1085 vs November.

    • Exit remaining two-thirds of 1100 November call options at 88 cents.

  • Plan B:

    • No active targets.

  • Details:

    • Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.

    • Changes:

      • None.

2026 Crop:

  • Plan A: No active targets.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the day lower but came off their lows earlier in the day. The November contract took out yesterday’s low and is trading below the major moving averages. Yesterday’s Crop Progress report saw crop ratings fall slightly which should be supportive especially if weather gets hot and dry throughout August.

  • Soybean oil followed crude oil lower today, while soybean meal found support on reports that President Trump is nearing a trade agreement with the Philippines. The potential deal could boost export demand for both soybeans and soybean meal.

  • Yesterday’s Crop Progress report saw crop ratings for soybeans falling by 2 points from last week to 68% good to excellent. This is on par with this time last year. 62% of the crop is blooming compared to the average of 63% and 26% is setting pods which compares to the average of 26% at this time of year.

  • In China, soybean imports from Brazil have reportedly risen by 9.2% from the previous year. This was driven by a strong Brazilian harvest along with the ongoing U.S. trade war. Last month, China imported 86.6% of their total imports from Brazil alone.

Soybeans Find Support Near $10
Soybeans failed to break above key resistance at the May high of 1082 in mid-June, keeping the broader trend sideways. If soybeans can breach the 100-day moving average the next upside target would be the gap left over the 4th of July weekend near 1050. Support found last week near 1000 will be the first line of defense on a pullback with the April lows near 980 as stronger support.

Soybeans condition percent good-excellent (red) versus the 5-year average (green) and last year (pink).

Wheat

Market Notes: Wheat

  • Wheat finished the session with gains across all classes, despite lower closes in corn and soybean futures. Support came from a weaker U.S. dollar, reports of slowed farmer selling globally, and increased buying interest from end users for Russian wheat. Additionally, a decline in U.S. spring wheat crop ratings contributed to the bullish sentiment.

  • Yesterday afternoon’s crop progress report indicated that the U.S. winter wheat harvest is 73% complete, compared to 75% last year and a five-year average of 72%. Furthermore, the spring wheat crop condition fell 2% from last week to 52% good to excellent; the wheat crop is 87% headed which is in line with last year an 1% behind average.

  • Interfax has estimated Russian 25/26 grain exports will total between 53-55 mmt. Of that amount, wheat is expected to account for 43-44 mmt, which would be in line with last season. In addition, they left their grain harvest estimate unchanged at 135 mmt, with 88-90 mmt of that being wheat.

  • Iraq is reported to have harvested 5.119 mmt of wheat this season. With reserves of about 1.5 mmt from last year, the total is closer to 6.5 mmt. Despite ongoing drought conditions, this marks the third consecutive year the government has not needed to import wheat for its subsidized food program. New irrigation projects have helped boost production, and authorities are reportedly working to build additional silos to increase reserves.

  • According to CONAB, 91% of the projected wheat area has been planted in Brazil, which is in line with last year and the average. Region by region there is some variance, however, with 99% of Parana planted, but only 39% complete in Santa Catarina.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 633.50 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

2026 Crop:

  • Plan A:

    • Target 681 vs July ‘26 for the next sale.

  • Plan B:

    • Close below 588 support vs July ‘26 and buy put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at 624.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Returns to Recent Range
Chicago wheat’s sharp mid-June rally proved short-lived, with futures retreating to the upper end of the 2025 range. Initial support lies at the 50-day moving average, with a break targeting the June low of 522.25. On the upside, a weekly close above 558 could open the door for a retest of the recent highs near 590.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 653 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 618.

    • Changes:

      • None.

2026 Crop:

  • Plan A:

    • Target 688 vs July ‘26 to make the first cash sale.

  • Plan B:

    • Close below 549 support vs July ‘26 and sell more cash.

    • Close below 584 support and buy July ‘26 put options (strikes TBD).

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • The 688 target has been lowered to 683.

To date, Grain Market Insider has issued the following KC recommendations:

Kansas City Wheat Back Near Support
Strength in June pushed KC wheat futures to their highest level in months, testing the April highs near 580. Weakness late in June sent futures back below both the 100- and 200-day moving averages which should now act as resistance. First support should appear at the June low of 517.75.

Winter wheat percent harvested (red) versus the 5-year average (green) and last year (purple).

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy KC call options if September KC closes over 653 macro resistance (strikes TBD).

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

      • FYI – KC options are used for better liquidity.

2026 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Sell a second portion if September ‘26 closes below 639 support.

    • Close below 584 vs July ‘26 KC and buy July KC put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at a price of 678.75.

      • Changes:

        • None.

        • FYI – KC options are used for better liquidity.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Spring Wheat Holds Above Support
Spring wheat futures held above the upper end of their prior range for most of June, supported by a confluence of major moving averages. The June high near 665 is the next upside target. Key support lies at the 200-day moving average around 607, with a close below that level — and especially under the May low of 572.50 — likely opening the door to increased downside risk.

Spring wheat condition percent good-excellent (red) versus the 5-year average (green) and last year (pink).

Other Charts / Weather

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7-21 End of Day: Grain Markets Retreat as Forecasts Turn Wetter

ByGrain Market Insider

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • 🌽 Corn: Corn futures started the week lower as weekend rains and a moderating forecast prompted the removal of some weather premium priced in last week.

  •  🌱 Soybeans: Soybeans ended the day lower on bear spreading, with front-month contracts leading losses. Weekend forecasts shifted wetter with slightly less heat, applying pressure across the grain complex.

  • 🌾 Wheat: Wheat futures closed lower across all three U.S. classes, despite early strength. Losses followed weakness in corn, soybeans, and Paris (Matif) wheat. Weekend rains in the Northern Plains boosted spring wheat prospects, while uncertainty over potential August 1 tariffs contributed to long liquidation.

  • To see updated U.S. weather forecast maps, scroll down to the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2025 Crop: 

  • Plan A:

    • Exit all 510 December calls @ 43-5/8 cents.

    • Exit half of the December 420 puts @ 43-3/4 cents.

    • Exit one-quarter of the December 420 puts if December closes at 411 or lower.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.

    • Changes:

      • None.

2026 Crop: 

  • Plan A: Target 483 vs December ‘26 for the next sale.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Four sales recommendations have been made to date, with an average price of 462.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures started the week lower as weekend rains and a moderating forecast prompted the removal of some weather premium priced in last week. A poor export inspection report also added pressure, raising concerns about weakening demand.

  • Weather forecasts eased to start the week, with expectations for less intense and shorter-duration heat. Improved rainfall projections for late July also weighed on futures, softening concerns about prolonged stress on the crop.

  • Weekly corn export inspections came in below expectations, with U.S. exporters shipping just 984,000 metric tons (38.7 million bushels). While total exports remain 29% above last year, the weak showing followed an already disappointing sales report, fueling worries about demand erosion amid Brazil’s record harvest.

  • Brazil analyst firm, Agrural raised their corn production output for the 2024-25 season to 136.3 MMT, up from 130.6 in their last projection. Favorable weather for the key second crop Brazil corn has supported this production raise.

  • The U.S. dollar broke lower from recent consolidation, potentially signaling a return to a weaker trend. A softer dollar would generally provide support for U.S. corn and grain exports by improving global competitiveness.

Corn Futures Attempt Rebound with Bullish Reversal
Corn futures show signs of recovery mid-July, posting a bullish key reversal to start last week. An unfilled gap near 413 is the first upside target, followed by a gap at 430 if 420 is cleared. On the downside, support rests at last week’s low of 391.

Above: Corn Managed Money Funds net position as of Tuesday, July 15. Net position in Green versus price in Red. Money Managers net bought 29,106 contracts between July 8 – July 15, bringing their total position to a net short 174,755 contracts.

Soybeans

2025 Crop:

  • Plan A:

    • Next cash sale at 1114 vs November.

    • Exit one-third of 1100 call options at 1085 vs November.

    • Exit remaining two-thirds of 1100 November call options at 88 cents.

  • Plan B:

    • No active targets.

  • Details:

    • Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.

    • Changes:

      • None.

2026 Crop:

  • Plan A: No active targets.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the day lower in bear spreading actions with the front months taking the brunt of losses. Forecasts over the weekend shifted to show more precipitation and a bit less heat from previous forecasts, which pressured the entire grain market today. Soybean meal was lower while soybean oil moved higher again.

  • Today’s export inspections report was on the soft side for soybeans with inspections totaling 13.5 million bushels for the week ending July 17. This was within trade expectations and was above last weeks. Total inspections for 24/25 are up 10% from last year.

  • In China, soybean imports from Brazil have reportedly risen by 9.2% from the previous year. This was driven by a strong Brazilian harvest along with the ongoing US trade war. Last month, China imported 86.6% of their total imports from Brazil alone.

  • Friday’s CFTC report saw funds as sellers of 26,062 contracts of soybeans which increased their net short position to 32,278 contracts. They bought 5,480 contracts of bean oil leaving them long 43,221 contracts and sold 1,537 contracts of meal leaving them short 133,016 contracts.

Soybeans Find Support Near $10
Soybeans failed to break above key resistance at the May high of 1082 in mid-June, keeping the broader trend sideways. If soybeans can breach the 100-day moving average the next upside target would be the gap left over the 4th of July weekend near 1050. Support found last week near 1000 will be the first line of defense on a pullback with the April lows near 980 as stronger support.

Above: Soybean Managed Money Funds net position as of Tuesday, July 15. Net position in Green versus price in Red. Money Managers net sold 26,062 contracts between July 8 – July 15, bringing their total position to a net short 32,278 contracts.

Wheat

Market Notes: Wheat

  • Wheat futures closed lower across all three U.S. classes, despite early strength. Losses followed weakness in corn, soybeans, and Paris (Matif) wheat. Weekend rains in the Northern Plains boosted spring wheat prospects, while uncertainty over potential August 1 tariffs likely contributed to long liquidation ahead of the U.S. Wheat Quality Council’s spring wheat tour.

  • Weekly wheat export inspections totaled 26.9 million bushels, bringing the 2025/26 total to 111 million bushels—14% ahead of last year. Inspections are currently running above the USDA’s pace for projected exports of 850 million bushels, which would be a 3% increase year over year.

  • Bangladesh signed a five-year trade agreement to purchase 700,000 metric tons of U.S. wheat annually—a bullish development, as the country traditionally relies on Black Sea suppliers and buys far less from the U.S.

  • The weather outlook for the month of August in South America calls for widespread warmth, which should alleviate freeze concerns. Additionally, dryness in Argentina should allow for the end of wheat planting to go smoothly.

  • Over the weekend the Canadian prairies saw scattered showers. Heavier totals were present in Saskatchewan and Alberta, with lighter amounts in Manitoba (where it has been drier). Additionally, more rain is expected through next week. In general, this moisture should benefit their spring wheat crop.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 633.50 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

2026 Crop:

  • Plan A:

    • Target 681 vs July ‘26 for the next sale.

  • Plan B:

    • Close below 588 support vs July ‘26 and buy put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at 624.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Returns to Recent Range
Chicago wheat’s sharp mid-June rally proved short-lived, with futures retreating to the upper end of the 2025 range. Initial support lies at the 50-day moving average, with a break targeting the June low of 522.25. On the upside, a weekly close above 558 could open the door for a retest of the recent highs near 590.

Above: Chicago Wheat Managed Money Funds’ net position as of Tuesday, July15. Net position in Green versus price in Red. Money Managers net sold 4,893 contracts between July 8 – July 15, bringing their total position to a net short 60,487 contracts.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 653 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 618.

    • Changes:

      • None.

2026 Crop:

  • Plan A:

    • Target 688 vs July ‘26 to make the first cash sale.

  • Plan B:

    • Close below 549 support vs July ‘26 and sell more cash.

    • Close below 584 support and buy July ‘26 put options (strikes TBD).

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • The 688 target has been lowered to 683.

To date, Grain Market Insider has issued the following KC recommendations:

Kansas City Wheat Back Near Support
Strength in June pushed KC wheat futures to their highest level in months, testing the April highs near 580. Weakness late in June sent futures back below both the 100- and 200-day moving averages which should now act as resistance. First support should appear at the June low of 517.75.

Above: KC Wheat Managed Money Funds’ net position as of Tuesday, July 15. Net position in Green versus price in Red. Money Managers net sold 4,683 contracts between July 8 – July 15, bringing their total position to a net short 48,002 contracts.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy KC call options if September KC closes over 653 macro resistance (strikes TBD).

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

      • FYI – KC options are used for better liquidity.

2026 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Sell a second portion if September ‘26 closes below 639 support.

    • Close below 584 vs July ‘26 KC and buy July KC put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at a price of 678.75.

      • Changes:

        • None.

        • FYI – KC options are used for better liquidity.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Spring Wheat Holds Above Support
Spring wheat futures held above the upper end of their prior range for most of June, supported by a confluence of major moving averages. The June high near 665 is the next upside target. Key support lies at the 200-day moving average around 607, with a close below that level — and especially under the May low of 572.50 — likely opening the door to increased downside risk.

Above: Minneapolis Wheat Managed Money Funds’ net position as of Tuesday, July 15. Net position in Green versus price in Red. Money Managers net sold 3,284 contracts between July 8 – July 15, bringing their total position to a net short 997 contracts.

Other Charts / Weather

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7-18 End of Day: Grains End Week Strong

ByGrain Market Insider

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • 🌽 Corn: Corn futures ended the week on a strong note, with buyers returning amid short covering and technical buying. Support was triggered by forecasts calling for hotter weather ahead. For the week, December corn futures gained 15 ½ cents.

  •  🌱 Soybeans: Soybeans ended higher as forecasts turned hotter and drier for the 6- to 10-day period. A weaker U.S. dollar added support across the grain complex, but weather will remain the key driver if the pattern persists into August.

  • 🌾 Wheat: Wheat futures led the grain complex higher Friday, posting double-digit gains for both Chicago and Kansas City contracts. The rally was likely technical, following support established earlier this week.

  • To see updated U.S. weather forecast maps, scroll down to the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2025 Crop: 

  • Plan A:

    • Exit all 510 December calls @ 43-5/8 cents.

    • Exit half of the December 420 puts @ 43-3/4 cents.

    • Exit one-quarter of the December 420 puts if December closes at 411 or lower.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.

    • Changes:

      • None.

2026 Crop: 

  • Plan A: Target 483 vs December ‘26 for the next sale.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Four sales recommendations have been made to date, with an average price of 462.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following corn recommendations:

  • Buyers returned to the corn market to end the week. Additional short covering and technical buying was noticed in the grain markets as the prospect of a hotter weather forecast triggered some premium in the corn market. For the week, December corn futures gained 15 ½ cents.

  • The 7-day outlook for the Corn Belt remains warm and wet. Forecast maps show much of the region could receive up to 140% of normal rainfall, which may prove critical if drier weather materializes as projected heading into August.

  • Technical buying added support as corn futures pushed through key moving averages. However, the $4.30 level held as resistance, marking a critical threshold for the market heading into next week.

  • Brazil’s corn harvest is accelerating amid drier weather, boosting availability. With Brazilian farmers managing record-large soybean and corn crops, the increase in global supplies may limit upside potential for U.S. corn prices.

  • Argentina is in the final stages of this year’s corn harvest. As of Wednesday, corn harvest was 73% complete, down from last year’s 80% level due to wet weather. The Argentina corn crop is projected near 49 MMT.

Corn Futures Attempt Rebound with Bullish Reversal
Corn futures show signs of recovery mid-July, posting a bullish key reversal to start the week. An unfilled gap near 413 is the first upside target, followed by a gap at 430 if 420 is cleared. On the downside, support rests at this week’s low of 391.

Soybeans

2025 Crop:

  • Plan A:

    • Next cash sale at 1114 vs November.

    • Exit one-third of 1100 call options at 1085 vs November.

    • Exit remaining two-thirds of 1100 November call options at 88 cents.

  • Plan B:

    • No active targets.

  • Details:

    • Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.

    • Changes:

      • None.

2026 Crop:

  • Plan A: No active targets.

  • Plan B: No active targets.

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended higher as forecasts turned hotter and drier for the 6- to 10-day period. A weaker U.S. dollar added support across the grain complex, but weather will remain the key driver if the pattern persists into August. Soybean meal finished higher, while bean oil slipped.

  • November soybean futures broke through all three major moving averages on Friday. Despite late-session weakness, the contract closed above the 50-day moving average at $10.34 ½ — the first such close since July 3, signaling near-term technical strength.

  • Soybeans drew support this week from surging soybean oil prices, which hit new highs Thursday. However, with no progress on a U.S.-China trade deal, futures remain rangebound. China typically ramps up U.S. purchases in August, but a potential Trump-Xi meeting still appears weeks away.

  • For the week, August soybeans gained 23-1/2 cents at $10.27-3/4 while November gained 28-1/2 cents to $10.35-3/4. August soybean meal gained $3.70 to finish at $274 and August soybean oil gained 2.07 cents to close the week at 55.82 cents.

Soybeans Find Support Near $10
Soybeans failed to break above key resistance at the May high of 1082 in mid-June, keeping the broader trend sideways. If soybeans can breach the 100-day moving average the next upside target would be the gap left over the 4th of July weekend near 1050. Support found this week near 1000 will be the first line of defense on a pullback with the April lows near 980 as stronger support.

Wheat

Market Notes: Wheat

  • Wheat futures led the grain complex higher, posting double-digit gains for both Chicago and Kansas City contracts. Early strength was likely sparked by news of new EU sanctions against Russia. Although these measures target the energy sector, some support spilled over into the grain markets.

  • September Paris milling wheat futures broke through and closed above the 50-day moving average resistance today, offering a boost to the U.S. market.

  • According to Chinese customs data, their June wheat and wheat flour imports totaled just 350,000 mt, down 70.6% year over year for that month. The year-to-date figure at 1.96 mmt is down 78.9% year over year.

  • In an update from the Buenos Aires Grain Exchange, Argentine wheat planting was reported at 92.8% complete, up from 91% last week. An estimated 6.7 million hectares will be planted in total, up from 6.3 million last year.

  • France’s wheat harvest has advanced to 71% complete as of July 14, according to FranceAgriMer. This is up sharply from the 36% that was collected as the week before, and only 12% at this time a year ago.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 633.50 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

2026 Crop:

  • Plan A:

    • Target 681 vs July ‘26 for the next sale.

  • Plan B:

    • Close below 588 support vs July ‘26 and buy put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at 624.

    • Changes:

      • None.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Returns to Recent Range
Chicago wheat’s sharp mid-June rally proved short-lived, with futures retreating to the upper end of the 2025 range. Initial support lies at the 50-day moving average, with a break targeting the June low of 522.25. On the upside, a weekly close above 558 could open the door for a retest of the recent highs near 590.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy call options if September closes over 653 macro resistance.

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 618.

    • Changes:

      • None.

2026 Crop:

  • Plan A:

    • Target 688 vs July ‘26 to make the first cash sale.

  • Plan B:

    • Close below 549 support vs July ‘26 and sell more cash.

    • Close below 584 support and buy July ‘26 put options (strikes TBD).

  • Details:

    • Sales Recs: Zero sales recommendations made so far to date.

    • Changes:

      • The 688 target has been lowered to 683.

To date, Grain Market Insider has issued the following KC recommendations:

Kansas City Wheat Back Near Support
Strength in June pushed KC wheat futures to their highest level in months, testing the April highs near 580. Weakness late in June sent futures back below both the 100- and 200-day moving averages which should now act as resistance. First support should appear at the June low of 517.75.

2025 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Buy KC call options if September KC closes over 653 macro resistance (strikes TBD).

  • Details:

    • Sales Recs: Five sales recommendations made to date, with an average price of 646.

    • Changes:

      • None.

      • FYI – KC options are used for better liquidity.

2026 Crop:

  • Plan A: No active targets.

  • Plan B:

    • Sell a second portion if September ‘26 closes below 639 support.

    • Close below 584 vs July ‘26 KC and buy July KC put options (strikes TBD).

  • Details:

    • Sales Recs: One sales recommendation made to date, at a price of 678.75.

      • Changes:

        • None.

        • FYI – KC options are used for better liquidity.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Spring Wheat Holds Above Support
Spring wheat futures held above the upper end of their prior range for most of June, supported by a confluence of major moving averages. The June high near 665 is the next upside target. Key support lies at the 200-day moving average around 607, with a close below that level — and especially under the May low of 572.50 — likely opening the door to increased downside risk.

Other Charts / Weather

Above: From ag-wx.com