Corn continues to post gains at midday as traders look to reduce risk ahead of this weekend’s China talks and Monday’s USDA Supply and Demand report.
USDA reported 288,000 tons of corn sold to Mexico, 95,100 tons for the 24/25 year and 192,900 tons for the 25/26 year.
China has signed a deal with Argentine exporters to purchase corn, as it seeks alternative suppliers to the U.S.
The Buenos Aires Grain Exchange reported a 4% increase in Argentina’s corn rated in good/excellent condition, now at 42%.
U.S. corn area under drought was unchanged at 20% compared to 14% at this time last year.
Soybean markets continued to trade higher at midday, building on Thursday’s gains amid optimism that this weekend’s meeting with China could help de-escalate the ongoing tariff dispute. The entire soy complex is posting gains.
USDA reported another soybean sale to Pakistan of 120,000 tons for the 25/26 year.
Going into the weekend, any signs toward a trade agreement with the U.S. and China could encourage buyers back into the soy complex, however any deal that guarantees commitments from China to buy U.S. soybeans is not likely.
The soybean market will be most likely limited to any rally attempt as exports slow and a record soybean harvest out of South America continues.
Wheat prices turned red at midday as weather concerns reemerged, with dryness concerns once again affecting parts of the U.S., and drought persisting in other major wheat-producing regions.
The share of U.S. winter wheat under drought conditions fell by 1% to 22%, down from 28% at this time last year. Dry weather is expected to persist across the Grain Plains into next week, with some relief anticipated in the Dakotas by late next week.
Drought conditions are forecast to expand across the northern half of Europe’s wheat-growing regions through the end of the month. In China, dry weather is also expected to persist in the northern and northwestern wheat areas for at least the next 10 days.
With U.S.-China trade negotiations expected this weekend, any potential deal could support U.S. wheat markets, as China is facing a significant shortfall in its domestic wheat production.
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.
Corn prices have shifted lower at midday, pressured by favorable weather patterns over the next week to allow planting to progress further.
Weekly export sales for corn totaled 66 mb, which was above trade expectations. Year-to-date commitments are now at 2.378 billion bushels, up 27% from last year.
Ethanol production for the week ending May 2nd totaled 7.140 million barrels. Ending stocks came in at 25.191 million barrels.
Soybean futures remain firm at midday, supported by concerns over the timeline for a potential agreement to be made between US and China.
Weekly soybean export sales were in line with expectations at 14 mb. Year-to-date commitments total 1.753 billion bushels, which is 13% higher than a year ago.
LSEG has raised their US soybean production estimate by 1% to 117 mmt. The group cited a 500,000 acre increase and favorable weather conditions for rapid planting progress as the reason for the increase.
Wheat prices continue to trend lower at midday, pressured by precipitation chances in the Northwest Plains states next week.
Weekly export sales for wheat came in at 21 mb, which was above trade expectations. Year-to-date commitments total 787 mb, up 14% from last year.
LSEG raised their all-wheat production forecast for Canada to 36.5 mmt, which if realized would be 4.5% higher than last year’s production total.
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.
This morning’s trade announcement that U.S.-China negotiations will resume later this week continues to lift deferred corn contracts at midday, although nearby contracts have edged lower.
The latest forecast shows a clear planting window across much of the Midwest over the next seven days, with only limited rainfall expected in parts of Kansas and the Southeast.
A key export window for U.S. corn will likely remain open for at least another 45 days, as Ukrainian corn prices continue to trade well above those of U.S. offerings.
Ethanol production has slumped to 300 million gallons, down from 306 million the previous week; however. this is still up 5.7% YOY. There were 102 mb of corn used in this production process (or 14.55 mb per day). This is below the 15.06 mb needed to reach the USDA’s forecast of 5.50 bb.
Soybeans continue to show strength in midday trade, supported by overnight reports that the U.S. Treasury Secretary and U.S. Trade Representative will meet with a Chinese delegation later this week to begin trade negotiations. Soybeans and soybean meal are posting higher at midday, while soybean oil is trading mixed.
Soybean prices in Brazil and Argentina are now well below U.S. levels, contributing to a slowdown in U.S. export activity.
Brazil’s soybean harvest is expected to reach a record of 169 mmt or 6.21 bb, according to a report from consultant Michael Cordonnier. He also added that even though Argentina’s bean harvest has been delayed, yields are better than expected.
Brazilian farmers are expected to expand the soybean planted area by approximately 500,000 hectares in the 2025/26 season, which begins in September for key growing regions.
Wheat futures have turned mixed at midday, showing little reaction to the China trade news, as favorable weather conditions continue to erase the previously built-in weather premium.
Showers are moving across western Kansas this morning, with additional rainfall expected across the state over the next week. Meanwhile, Texas and Oklahoma are forecast to remain dry, allowing fields in those areas to finally dry out.
Crop stress remains a concern for wheat in China, as drought conditions persist across one-third of the country’s wheat-growing regions.
U.S. wheat continues to gain competitiveness in the global market, with Gulf hard red winter wheat now priced at a 25-cent discount compared to Russian wheat.
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.
Corn continues to trade mixed at midday. Planting progress is adding pressure to deferred contracts while the two front month contracts are up slightly after yesterday’s down day.
Yesterday’s Crop Progress report showed corn planting at 40% complete which compares to 24% last week and the 5-year average of 39%.
Agriculture group Celeres raised their total corn production outlook for Brazil from 134.6 mmt to 135.4 mmt. This compares to 129.2 mmt produced during the 2023/24 season.
Soybean futures remain weaker at midday, pressured by planting progress and favorable weather conditions.
Yesterday’s Crop Progress report showed soybean planting at 30% complete, which compares to 18% last week and the 5-year average of 23%.
Brazil’s soybean premiums have now fallen below US prices which now raises concerns that there could be a lack of demand for US soybeans.
Wheat is trending higher at midday, supported by weather concerns in Texas and Oklahoma which are expected to see more rainfall than is needed.
Yesterday’s Crop Progress report showed winter wheat ratings improved 2% from last week to 51% good-to-excellent. Spring wheat planting jumped 14% from last week to 44% complete but is 10% above the 5-year average at this time.
Russia’s IKAR has raised their wheat production forecast to 83.8 mmt, up from their earlier estimate of 82.5 mmt. IKAR also raised their Russian wheat export estimate to 41.3 mmt, up from their previous estimate of 40 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.
Corn futures are lower to start the week as the next two weeks look mostly dry across the Corn Belt, encouraging rapid planting progress.
Traders expect Monday afternoon’s USDA crop progress report to show corn planting at 41% to 45% complete.
Despite the weaker price action, corn continues to find support from strong demand, which the USDA may need to reflect by raising demand estimates in the May 12th WASDE report.
Soybeans are slightly lower to start the week, with pressure from weaker energy prices and favorable Midwest weather conditions.
OPEC recently announced an increase in crude oil production. Crude oil prices have been declining since the start of the year and are now at $57 per barrel — their lowest level since early 2021.
In Monday’s crop progress report, traders are expecting U.S. soybean planting to be 29% to 33% complete. If current weather forecasts hold, planting could finish at a record-fast pace.
Wheat futures started the week lower, following pressure from declines in corn and soybean futures.
Spring wheat planting is estimated to be 51% to 54% complete as of Sunday.
Winter wheat condition ratings are expected to improve slightly, with more acres rated good to excellent.
Recent rains across the Plains have been beneficial, though additional rainfall forecast for the Southern Plains this week raises flooding concerns, particularly in saturated areas.
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.
Corn futures are trading mixed at midday, with increased corn acres and favorable weather, but still drawing support from yesterday’s favorable export report.
The 6–14 day forecast for the Northern Plains and Western Corn Belt shows mostly dry conditions and warmer temperatures, favorable for accelerated planting. Meanwhile, the percentage of corn acreage affected by drought has declined to 20%, down 6 points from last week.
In Argentina, the corn harvest has now reached 31% complete, according to the Buenos Aires Exchange.
Corn markets may face downward pressure ahead, driven by expectations of increased U.S. corn acreage, a large Brazilian crop, and the absence of any major weather-related disruptions in the U.S.
Soybean futures are trading higher at midday, maintaining strong momentum. The market is finding underlying support from a minor overnight breakthrough in U.S.–China trade discussions. While soybeans and soybean meal are posting gains, soybean oil is trading lower.
Overnight, a potential breakthrough emerged as China indicated it is evaluating the need for trade talks with the U.S., following a recent outreach from Washington. However, with China on holiday until May 5th, any formal negotiations are expected to be on hold until then.
U.S. soybeans have recently lost competitiveness in global markets as Brazilian export premiums have dropped sharply.
Recent rainfall has reduced the share of U.S. soybean acreage under drought conditions to 15%, down 6 percentage points from last week and now below last year’s level of 17%.
Soybean oil remains under pressure at midday, weighed down by weakness in both crude oil and palm oil markets.
Wheat futures remain firm at midday, supported by the sharply lower U.S. dollar and a very oversold technical situation.
A significant drop in U.S. wheat prices has made U.S. wheat more competitive on the global market, potentially boosting business for U.S. exporters.
Overnight, South Korean flour millers secured nearly 36,000 metric tons of U.S. mixed wheat.
Early this morning, storms are moving across the Texas Panhandle and much of Oklahoma, with showers also affecting Kansas and Nebraska. Additional soaking rains are expected next week, which should benefit wheat crops currently under drought stress.
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.
Corn futures are mostly weaker at midday, pressured by improving favorable weather which will help speed along planting progress.
Weekly corn export sales came in at 50 mb, which was in line with trade expectations. Year-to-date commitments total 2.313 billion bushels which is up 11% from last year.
The Buenos Aires Grain Exchange pegs Argentine’s corn harvest at 31.3% done, up from 29.7% complete last week.
Soybean prices are trending lower at midday, pressured by falling crude oil prices and harvest progressing in South America.
Weekly soybean export sales totaled 18 mb, in line with expectations. Year-to-date commitments sit at 1.742 billion bushels, up 13% from a year ago.
Argentine soybean harvest jumped to 23.6% complete up from 14.5% last week according to The Buenos Aires Grain Exchange.
Soybean oil for use in biofuels dropped to 576 million pounds, down from 654 million pounds in January.
Wheat futures remain firm at midday, supported by increased domestic usage and potential for increased global demand as US prices remain competitive.
Weekly wheat export sales were in line with trade expectations at 12 mb. Year-to-date commitments total 785 mb, up 14% from last year.
Ukraine’s wheat exports during the month of April fell 56% from April of 2024 due to shrinking stocks.
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.
Corn has turned higher at midday, supported by improved ethanol production figures.
USDA confirms the sale of 120,000 tons of U.S. corn for delivery to unknown destinations for the 24/25 year.
While planting progress in the eastern Corn Belt remains behind schedule, the 2nd week of the extended forecast is now calling for below-normal precipitation, offering an ideal window for farmers to make up lost ground.
Ethanol production rebounded to 306 million gallons, up from 304 million the previous week, and up 5% YOY. There was 104 mb of corn used in the production process.
Ethanol stocks slipped to 25.4 million barrels, slightly below expectations and the lowest in 15 weeks.
Soybeans are trading lower at midday, extending yesterday’s decline as improved weather conditions across the U.S. support continued planting progress and reduce the previously built-in weather premium. The entire soy complex is posting losses at midday.
Weather models are beginning to shift, indicating a drier pattern in the second week of the extended forecast for the eastern Corn Belt. This development is expected to benefit soybean planting, providing an opportunity for states that are currently behind schedule to make significant progress.
Dr. Cordonnier raised his Argentina bean production forecast to 50 mt, up 1 million from last week, and is slightly above the USDA forecast of 49 mt.
Argentine farmer soybean sales are reported at the slowest pace in 11 years, despite a recent export tax cut, as growers remain hesitant amid concerns over potential currency devaluation.
Wheat is trading higher at midday driven by adverse weather in major wheat producing regions outside of the U.S.
Drought conditions have largely subsided in most of Oklahoma and northern Texas, as ongoing heavy rainfall continues to bring significant relief to the region.
Drought risk is diminishing across the Great Plains, with the Week 2 extended forecast calling for significant rainfall in western Kansas and eastern Colorado—two regions that have faced prolonged dryness.
The U.S. attache lowered Australia’s wheat production estimate to 31 mt, down from 34.1 last year due to a smaller harvested area.
LSEG continues to leave their Russian wheat production estimate unchanged at 79.5 mt but said more rain is needed in the region to reach this estimate.
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.
Corn prices continue to trend lower at midday following planting progress and rain showers across the Midwest.
Yesterday’s Crop Progress report showed corn planting at 24% complete, down 1% from last year, but up 2% from the 5-year average.
The Trump administration is allowing nationwide sales of E15 this Summer via an emergency waiver. This move comes in an effort to cool off prices at the pump and support the agriculture industry.
Soybeans remain weaker at midday following yesterday’s Crop Progress report showing above average planting pace.
Yesterday’s Crop Progress report showed soybean plantings at 18%, up 1% from last year and 6% above the 5-year average.
China’s agriculture ministry has reported that the country’s soybean meal usage for feed consumption could fall to 10% by 2030.
Wheat prices have reversed lower at midday on pressure from the rest of the grain market and rainfall in the Southern Plains.
Winter wheat ratings jumped to 49% good-to-excellent while HRW ratings improved 3% to 41% good-to-excellent. SRW conditions declined 1% to 63% good-excellent due to heavy rainfall. HRS seeding was seen increasing 13% from last week, now at 30% complete
Russia is expected to see a cold snap after a period of seasonally warm weather raising concerns over the size of the country’s crop.
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.
Corn futures are under pressure to start the week as forecasts call for an expanded planting window across the Midwest later this week.
Monday’s USDA Crop Progress report is expected to show corn planting between 24% and 26% complete as of Sunday.
In Argentina, the Buenos Aires Grain Exchange reported corn harvest at 30% complete, with steady crop conditions and an unchanged production estimate of 49 million metric tons.
Soybean futures opened the week slightly lower, with soybean meal under pressure while soybean oil held modest gains.
Traders anticipate Monday’s USDA Crop Progress report will show U.S. soybean planting between 18% and 21% complete as of Sunday. Early-week rains are expected to briefly slow planting before warmer, drier weather returns heading into the weekend.
U.S. Agriculture Secretary Rollins suggested that several new trade deals could be announced as early as this week. However, relations with China remain uncertain, with President Trump confirming multiple conversations with President Xi Jinping but no formal trade negotiations yet underway.
Wheat futures opened the week sharply lower, pressured by forecasts calling for continued moisture across the southern Plains over the next two weeks.
Traders are anticipating a 1%–3% improvement in winter wheat good-to-excellent ratings in this afternoon’s USDA Crop Progress report.
Losses in Paris milling wheat futures on Monday added additional outside pressure to the U.S. wheat market.
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.
