Midday

Grain Market Insider Interactive Quote Board

• Corn futures remain weak in midday trading, moving lower on concerns that ongoing trade discussions between the U.S. and China will not include corn. Any mention of potential U.S. corn imports by China would be seen as a bullish surprise, especially with China’s harvest currently underway. December corn is down at 4.31 ¾.
• President Trump announced a trade deal with South Korea overnight, a key buyer of U.S. corn, providing potential support for export demand sentiment.
• Ukraine corn prices have declined this week as harvest progresses and are now below Brazilian values, though U.S. corn remains the cheapest on the global market.
• Ethanol production slipped to 321 million gallons last week, down from the previous week but still 1% above year-ago levels. Output came in below expectations, with approximately 109 million bushels of corn used in the production process.

• Soybeans continue to slip in midweek trade following a strong start to the week, as the market remains severely overbought. Soybeans and soybean oil are posting losses, while soybean meal sees minimal gains. November soybeans are trading lower at 10.77.
• Overnight reports indicated that China’s COFCO booked 180,000 tons (three cargoes) of U.S. soybeans ahead of the Trump–Xi meeting, marking the first purchase of the season. The timing was not unexpected, as China typically buys before events that could influence prices upward.
• Dr. Cordonnier raised his estimate for Brazil’s soybean production by 2 million tons to 177 million, slightly below the latest projections from CONAB and ABIOVE.
• A rain front is expected to move north into central Brazil by the weekend, bringing much-needed soil moisture that should accelerate soybean planting after recent dry conditions stalled fieldwork.

• Wheat futures are trading higher at midday, despite the China trade deal likely not including U.S. wheat. Over the weekend, trade agreements with other Southeast Asian nations are providing support for U.S. wheat exports. December wheat is seeing gains at 5.31 ½.
• The recent wheat rally continues to be driven primarily by short covering rather than a shift in global fundamentals. However, potential disruptions to Russian exports due to new sanctions remain a supportive factor.
• LSEG raised its Australian wheat production estimate by 2%, while Ukraine has sown 81% of its expected winter wheat area.
• In the U.S., rains have ended across the Southern Plains, and conditions are expected to dry over the next two weeks, with both the 6–10 day and 8–14 day forecasts showing below-normal precipitation.

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Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

Grain Market Insider Interactive Quote Board

• Corn futures are firm at midday, supported by China/US trade talks and higher soybean prices. December futures are up 6-3/4 cents to $4.35-1/2, while March futures are 5-1/4 cents higher to $4.49-1/2.
• AgRural estimates that Brazil is now 55% planted, up slightly from last year’s pace of 53% done through the same week.
• The US corn harvest is seen at 72% complete according to a Reuters poll. This is behind last year’s 81% harvested at this time.

• Soybeans are once again sharply higher as optimism continues to increase regarding this week’s meeting between the US and China. November soybeans are up 20-1/4 cents to $10.87-1/2, while March futures are 18-3/4 cents higher to $11.14-1/4.
• According to a Reuters survey, the US soybean harvest has advanced to 84% complete, slightly behind last year’s 89% complete through the same week.
• Brazil’s soybean planting is seen at 36% complete according to AgRural. Planting advanced 12% from last week and is now on par with last year’s pace.

• Wheat prices continue to trend higher early in the week as the rest of the grain complex is also higher. December Chicago is up 7-00 cents to $5.33-00, December KC is 9-1/4 cents higher to $5.23-1/2, and December Minneapolis is up 8-00 cents to $5.68-25.
• Estimates showed winter wheat planting jumping to 85%, up from 76% planted last week. Crop conditions are seen at 50% good-to-excellent, which is up from 38% in the same week last year.
• Wheat harvest in South America is seeing delays as rains continue to fall in Brazil. The US could also see some precipitation stretch across the Southern Plains this week.

Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

Grain Market Insider Interactive Quote Board

• Corn futures are higher at midday, mostly following sharply higher soybean futures. December corn is up 5 cents currently at 428.
• Optimism around an upcoming meeting between President Trump and Chinese President Xi is leading grain futures higher to start the week. Weekend meetings between the two countries were reportedly productive with a pause on some tariffs resulting.
• After recent harvest results, analysts are leaning lower on U.S. corn yields with most estimates now ranging from the 181 to 184 range, this would be sharply lower than the last USDA estimate from September that pegged U.S corn yield at 186.7.

• Soybean futures are sharply higher to start the week after a productive meeting around trade between the U.S. and China over the weekend. November soybeans are currently 28 cents higher at 1070.
• Treasury Secretary Scott Bessent said in a weekend interview that China would resume “substantial” purchases of U.S. agricultural products, adding that “soybean farmers will feel very good.” This optimism sparked a gap higher in soybean futures during Sunday night’s trade.
• Brazil’s soybean planting pace is ahead of average with progress in Mato Grosso reaching 60% done as of late last week. Weather appears mostly non-threatening over the next two weeks for much of Brazil.

• Wheat futures are sharply higher to start the week with December Chicago futures 18 cents higher at 530-1/2. December KC futures 16 cents higher at 517 and December Spring wheat futures 9 cents higher at 566.
• Paris milling wheat futures along with CBOT contracts, gapped higher to start the week surrounding trade optimism between the U.S. and China. Front month Chicago wheat futures are above the 50-day moving average with this morning push, a level that wheat has been below since mid-July.
• Weekend comments from the Buenos Airies Exchange projected Argentine wheat production to be in that 22 million metric ton (mmt) to 23 mmt range and sharply above USDA’s estimate. Argentine wheat conditions are 88% good to excellent and just 3% poor to very poor in stark contrast to last year at 38% good to excellent and nearly 20% poor to very poor.

Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

Grain Market Insider Interactive Quote Board

• Corn futures continued to push lower at midday as rapid harvest progress across the Midwest added slight pressure to the market. December corn is down at 4.24 ½.
• Argentina’s corn planting is 34% complete, while France’s corn harvest has reached 75%—well ahead of the 63% average for this time of year.
• The International Grains Council left its global crop outlook unchanged from last month but raised world corn stocks to 299 million tons, up from 294 million previously.
• President Trump abruptly ended all trade talks with Canada overnight, sparking some concern in the markets.

• Soybeans traded lower at midday Friday as U.S.–China discussions in Malaysia were set to begin, paving the way for the upcoming Trump–Xi meeting and adding to headline risk ahead of the weekend. Soybeans and soybean oil are lower, while soybean meal is posting slight gains. November soybeans are down at 10.42 ¾.
• China confirmed President Xi’s attendance at the APEC summit this morning, easing some uncertainty surrounding the planned Trump–Xi meeting.
• Rumors circulated yesterday that China may have been buying U.S. soybeans, but weaker Gulf bids suggested a lack of significant demand.
• The International Grains Council offered some supportive news for the soybean market, cutting its estimate of global soybean stocks to 79 million tons from 83 million in the previous report.

• Wheat markets trade higher at midday following yesterday’s positive rally, with slight pressure stemming from President Trump’s decision to cancel trade talks with Canada. December wheat is up at 5.14 ½.
• Tough new sanctions on Russia were implemented by the U.S. and the EU, providing some market support yesterday. While the sanctions primarily target Russia’s oil industry, transportation disruptions due to fuel shortages are likely to worsen.
• Unconfirmed rumors circulated yesterday that China was showing interest in wheat from Argentina and the EU, possibly due to heavy rains affecting parts of China.
• The International Grains Council projects global wheat stocks to rise to 275 million tons, up from 270 million tons in the previous month.

Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

Grain Market Insider Interactive Quote Board

• Corn prices are higher at midday as December corn futures push to their highest level in a month at $4.25-1/2. March futures are up 1-1/2 cents to $4.37-1/4.
• Ethanol daily production came in at 1.112 mbpd for the week ending October 17 with weekly production totaling 7.784 million barrels. Ethanol stocks were seen declining to their lowest level in nearly a year at 21.919 million barrels.
• According to LSEG, October weather in South America has been beneficial to planting progress, but rains will be needed to help the crop advance with 20% of the growing area under drought.
• Bloomberg estimates export sales for corn range between 800k and 1,600k for the week ending October 16. The average guess came in at 1,275k tons, which would compare to 4,184k tons a year ago.

• Soybeans are trading higher at midday, supported by US officials meeting with China in Malaysia this week. November soybeans are up 4-1/2 cents to $10.39-1/4, while March futures are up 6-1/2 cents to $10.56-1/2.
• Abiove has raised their soybean production estimate for Brazil to 178.5 mmt. If realized this would be up from 171.8 mmt last season. The group also increased the country’s total exports from 109.5 mmt last year to 111 mmt this year.
• Bloomberg estimated that soybean export sales for the week ending October 16 are between 700k and 2,000k tons. The average guess is 1,200k tons, which compares to 2,088k tons for the same week last year.

• Wheat is finding strength at midday on support from the US and EU placing additional sanctions on Russia to help force a cease-fire with Ukraine. December Chicago is up 4-1/2 cents to $5.08-1/4, December KC is 6-1/2 cents higher to $4.95-00, and December Minneapolis is trading 4-3/4 higher to $5.25-00.
• US prices remain competitive for export demand, which is helping to keep some level of support under wheat prices.
• Weekly export sales for wheat are estimated between 350k tons and 750k tons according to a Bloomberg survey. The average guess is 563k tons, which compares to 533k ton through the same week a year ago.

Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

Grain Market Insider Interactive Quote Board

• Corn futures are trading higher at midday, supported by continued strength in crude oil prices overnight. December wheat is up at 4.22.
• Trade negotiations with India continue to progress toward completion, with reports suggesting India may ease restrictions on GMO crops, potentially opening the door for U.S. corn imports likely destined for ethanol production.
• Two key Chinese provinces, Henan and Shandong — which together account for roughly 30% of the nation’s total grain output — have experienced the heaviest rainfall in 60 years. The government is formulating a plan to help producers harvest crops before conditions deteriorate further.
• Ethanol production rose to 327 million gallons in the week ended October 17, up from 316 million gallons the previous week and 3% higher than the YA. Output exceeded trade expectations, with an estimated 111 million bushels of corn used in the production process.

• Soybean futures are trading higher at midday despite overnight comments from President Trump regarding the upcoming U.S.–China meeting. While he noted the meeting could be beneficial for both countries, he also acknowledged it may not take place. Soybeans and soybean meal are firmer, while soybean oil trades lower. November soybeans trader higher at 10.36 ½.
• The status of U.S.–China trade negotiations remain uncertain. Treasury Secretary Bessent is traveling to Malaysia to meet with Chinese officials in an effort to lay the groundwork for a potential agreement both sides can present as a success. Without such progress, the planned meeting at the APEC Summit appears unlikely to take place.
• CONAB estimates Brazil’s soybean planting at 21.7% complete, ahead of last year’s pace of 17.6% but trailing the five-year average of 27.7%. Rainfall is in the forecast across key growing regions over the next two weeks, which could slow fieldwork but offer much-needed moisture for early-seeded areas.
• Trade discussions with India continue to make progress, with reports indicating the country has agreed to increase purchases of U.S. soybean meal.

• Wheat has firmed at midday, drawing support from strength in the broader grain complex, with little new market-moving information. December wheat moves higher trading at 5.03 ½.
• U.S. and French wheat prices remain closely aligned, but Argentine quotes are easing in anticipation of a sizable harvest starting next month, potentially intensifying global export competition.
• The scheduled Trump–Putin summit over the next two weeks appears uncertain after initial talks reportedly broke down, raising doubts about whether the meeting will take place.
• U.S. winter wheat planting has progressed to an estimated 75–80% completion.

Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

Grain Market Insider Interactive Quote Board

• Corn is weaker at midday, pressured by harvest pace and The American Petroleum Institute saying they do not support year-round E-15 sales. December corn is down 3-00 cents to $4.20-1/4 while March corn is 2-1/2 cents lower to $4.34-1/2.
• According to a Bloomberg poll, US corn harvest is seen at 59% complete, down from 62% complete through the same week last year but above the 5-year average of 57%.
• AgRural reported that Brazil’s first corn crop has reached 51% planted, up from 48% planted through the same week last year.

• Soybeans are pulling back at midday but remain slightly above unchanged. Support is coming from President Trump announcing he feels confident that a trade deal will get done with China next month. November soybeans are up 1-00 cent to $10.32-3/4, while the January contract is up 3/4-00 cent to $10.50-3/4.
• A Bloomberg poll showed the average estimate for soybean harvest at 74% complete, up from 60% a week earlier but below last year’s pace of 81% complete.
• According to AgRural, Brazil’s soybean planting has now reached 24% complete, up 10% from last week and 6% higher than the previous year.

• Wheat prices are softer at midday, pressured by increasing global supply estimates. December Chicago wheat is down 3-1/4 cents to $4.20-00, December KC is 4-00 cents lower to $4.86-00 and December Minneapolis is down 1-00 cent to $5.47-1/2.
• Winter wheat planting is seen at 76% complete according to a crop survey. This is up from last week’s survey which showed 60% planted and up from last year’s 73% planted through the same week.
• IKAR has raised their wheat production forecast again for Russia by 0.5 mmt to 88 mmt. This compares to the USDA’s estimate of 85 mmt.

Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

Grain Market Insider Interactive Quote Board

• Corn is trading lower at midday as the ongoing government shutdown limits available data. Demand remains strong in both export and ethanol sectors, but the lack of USDA reports has left traders without confirmation of new sales or weekly export figures. December corn is trading lower at 4.20.
• Over the weekend, President Trump accused the president of Colombia of being an “illegal drug leader” and announced that all U.S. subsidies to Colombia would be suspended. Colombia consistently ranks among the top five importers of U.S. corn, and in retaliation, it could shift purchases toward South American suppliers.
• U.S. harvest progress continues under generally favorable weather conditions. However, the 6–10 day forecast calls for above-normal precipitation across the Northern Plains and Northwestern Midwest, which could lead to some delays.
• Argentina’s corn planting has reached 30% completion, according to the Buenos Aires Grain Exchange. The Exchange’s latest forecast pegs production at a record 61 million metric tons.

• Soybeans are trading higher at midday following comments from President Trump expressing confidence that a trade deal with China can be reached, despite the lack of recent Chinese soybean purchases. The proposed meeting is scheduled to take place in 11 days. Soybean and soybean meal are higher, while soybean oil trades lower. November soybeans are higher trading at 10.28.
• China made no U.S. soybean purchases in September, the first time in seven years the month has passed without Chinese buying activity.
• Corn planting in Brazil is progressing quickly, with Patria reporting 23.27% of fields planted versus 9.33% a year ago. Favorable weather conditions and adequate rainfall are helping sustain the accelerated pace.
• Late last week, Agriculture Secretary Rollins made vague comments suggesting that the U.S. is in negotiations to crush soybeans in South America, which may have contributed to recent market strength.

• Wheat futures are trading mixed at midday amid a lack of fresh news. However, short covering and a slightly improved technical outlook across the grain complex are providing mild support. December Chicago wheat is trading up at 5.05.
• Wheat markets face continued pressure as global production and supply estimates grow. The latest report from consultancy IKAR indicates Russian wheat production could reach 88 million metric tons.
• SovEcon expects Russian wheat exports in October to reach 5.1 million tons, up from 4.6 million tons in September. Meanwhile, Ukraine’s exports so far this marketing year have reached 5.68 million tons, compared to 7.34 million tons during the same period a year ago.
• Despite large world wheat supplies, U.S. export sales and inspections are exceeding expectations. Without the latest USDA data, however, traders are forced to rely on private data and speculation.
• Australia is on track to harvest its third-largest crop on record, with the European Union also expecting strong production. Argentina’s crop prospects remain favorable, but cold weather this week may lead to some yield losses.

Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

Grain Market Insider Interactive Quote Board

• Corn is extending its gains into the midday session, hovering near a three-week high as renewed demand optimism and steady fund buying keep upward momentum intact. December corn is up at 4.22 ¾.
• Harvest pressure on corn is likely near its peak, but many in the market expect the USDA’s yield estimate to be revised lower in the next supply and demand report—once the government reopens and the report is released.
• U.S. export prices for corn remain the most competitive globally, while the U.S. dollar has seen at least a modest pullback this week. Strong export demand was noted earlier in the week as prices dipped to a one-and-a-half-month low.
• Planting progress in Argentina has reached roughly 30%, while France’s corn harvest is a little more than halfway finished.

• Soybeans are trading higher at midday as we wrap up the week’s session on Friday. The market is finding support from lighter-than-expected U.S. farmer harvest sales and optimism surrounding a potential U.S.–China meeting in two weeks. The entire soy complex is posting gains. November soybeans are up at 10.17 ¼.
• Market chatter indicates China may auction 3.5 million tons of soybeans from state reserves, opting to rely on domestic stocks instead of buying Brazil’s higher-priced supplies.
• Non-Chinese buyers may look to the U.S. for soybeans as prices remain a significant bargain compared to other origins. The U.S. is reportedly in trade discussions with South Korea, requesting additional soybean purchases. Currently, about 50% of South Korea’s soybean imports come from the U.S.
• Agriculture Secretary Rollins noted Thursday that the U.S. is exploring opportunities to crush U.S. soybeans in South America, aiming to diversify export markets and reduce dependence on Chinese purchases.

• Wheat is trading mixed to higher at midday as the market reacts to limited news, though reports of ample global supplies continue to weigh on prices. December wheat is up at 5.03 ¼.
• Recent U.S. wheat sales to Algeria and South Korea suggest that prices are attractive enough to spur international buying. U.S. SRW continues to compete well against French and Russian wheat on the global market.
• Wheat markets continue to contend with large global supplies, with the Grain Industry of Western Australia noting that favorable weather conditions could result in a record crop.
• Argentina’s wheat crop conditions have been strong, but the Buenos Aires Grain Exchange warns that a cold snap over the next 10 days could reduce yields.

Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

Grain Market Insider Interactive Quote Board

• Corn prices are seeing a boost at midday, supported by a recent uptick in demand after Taiwan and South Korea purchased US corn. December corn futures are up 3-3/4 cents to $4.20-1/2 while the March contract is up 4-00 cents to $4.36-1/4.
• LSEG estimates that Brazil’s new corn crop will reach 138.4 mmt, which was on par with CONAB’s estimate from earlier in the week. Both estimates are well above the USDA’s estimate of 131 mmt.
• Rain showers are still scheduled for much of the Corn Belt through the end of the week, which will likely put harvest on pause. Corn harvest in the US is seen advancing towards 50% complete this week.

• Soybeans are seeing some strength at midday after reports that a trade deal being struck with China is a “likely” outcome. November soybeans are up 10-1/2 cents to $10.17-00 and March futures are 10-3/4 cents higher to $10.35-00.
• LSEG sees Brazil’s soybean crop at 177.6 mmt, which, if realized, would be a record. The group’s estimate was very similar to CONAB’s recent estimate of 177.64 mmt, and above the USDA’s estimate of 175 mmt.
• NOPA crush for September came in at 197.86 mb, up 4.2% from the month prior and 11.6% higher from September 2024.

• Wheat futures are higher at midday, supported by stronger corn prices and a drop in the US dollar. December Chicago futures are 3-1/4 cents higher to $5.02-00, December Kansas City is up 1-1/4 cents to $4.89-1/2 and December Minneapolis futures are unchanged at $5.51-00.
• Recent export sales showed wheat sold to South Korea and Algeria yesterday. US competitiveness is a good sign at least in the short-term, but fundamentals still lean bearish as estimates see large global wheat supplies.
• News is still light on the wheat side and could be subject to headline risks as many see President Trump shifting his attention to Russia and Ukraine to get a peace deal done after doing so with the Gaza peace deal.

Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.