Corn prices have weakened at midday on beneficial rainfall in Argentina and weakness in the soy complex.
Weekly corn export sales came in at 60 mb, which was on the high end of trade expectations. Year-to-date commitments total 1.762 bb, up 28% from a year ago.
The USDA confirmed the sale of 330,000 mt of U.S. corn to Mexico yesterday for delivery in 25/26.
Soybeans have drifted into the red at midday on tensions between China and the U.S. regarding tariffs.
Weekly soybean export sales came in at the low end of expectations at 14 mb. Year-to-date commitments total 1.582 bb, up 12% from a year ago.
China reportedly filed a World Trade Organization (WTO) complaint against the U.S. amid the ongoing tariff situation.
Wheat remains higher at midday on support from low soil moisture levels in Ukraine and limited precipitation for the U.S. Plains states.
Weekly wheat export sales came in at 18 mb, which was in line with expectations. Year-to-date commitments total 683 mb, up 8% from a year ago.
A lower dollar index over the past three days has also helped to support wheat prices at midday.
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 are trading lower at midday, following a pause in tariffs from Canada and Mexico, alongside a continued decline in the U.S. dollar.
Dr. Cordonnier has reduced his Brazil corn estimate by 2 mt, now projecting 123 mt, compared to the USDA’s estimate of 127 mt. This adjustment is due to 30-40% of the safrinha corn crop being planted outside of the ideal window.
Weather in Argentina is expected to be moderate over the next couple of weeks, but dry conditions will persist, posing an ongoing threat to corn. With low confidence in any significant rainfall, drought conditions are likely to worsen, which will remain unfavorable for corn development.
USDA confirms 330,000 tons of U.S. corn for delivery to Mexico in 25/26.
Soybean prices are trading lower at midday as tariff negotiations with China continue, with implementation expected on February 10th causing uncertainty within the market. Soybeans, soybean meal, and soybean oil are all experiencing declines.
Brazil’s 24/25 soybean crop is projected to reach a record 174 mmt, assuming favorable weather conditions, according to agribusiness consultancy Celeres.
China’s demand for U.S. soybeans is expected to drop as the Brazil harvest increases. However, this will be heavily influenced by the ongoing harvest in Brazil, where heavy rains in key areas have caused significant delays to the soybean harvest.
Wheat prices are trading mixed at midday, despite growing concerns of winterkill in the central U.S. due to a recent cold snap.
Ukraine’s wheat is under stress as moisture levels have reached their lowest point in the past seven seasons.
Up to 10 Chinese cargoes of Australian wheat, totaling 600,000 tons, have either been delayed at ports or redirected to other Asian buyers due to China’s bumper wheat crop this year.
India’s wheat planted this season is expected to rise to 32.49 million hectares, compared to 31.83 last year.
The 6-10 day forecast for the U.S. Plains indicates normal precipitation chances, with cold weather moving into the area, raising the risk of potential winterkill.
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 is trading higher at midday on South American rainfall which will further slow the planting pace in the region.
AgRural reported that Brazil’s corn planting currently sits at 9% complete while IMEA reported that the Mato Grasso area is just 6.3% planted, well behind the 5-year average of 22.2% complete.
StoneX raised their corn production estimate for Brazil to 129.4 mmt which if realized would be 6.9% above last year.
Corn used for ethanol in December fell to 473.2 mmt which is down 2.3% from a year ago.
Soybeans have reversed higher at midday on hopes that President Trump and China’s Xi can make a deal on tariffs.
The December crush report from yesterday afternoon showed a new all-time high of 217.7 mb which was 6.6% higher than in November.
Soybean harvest continues to lag behind last year’s pace at just 9% complete compared to 16% at this time last year. Mato Grosso harvest is 12.2% done compared to the 5-year average of 25.3% complete.
Wheat prices are back in the green at midday on mixed winter wheat ratings and a cold and dry forecast for the Plains states over the next 6-10 days.
Winter wheat ratings were mixed with Kansas improving 3% to 50% good-to-excellent while Oklahoma fell 5% and Texas down 1%.
SovEcon raised their Russian wheat export forecast 2 mmt to 38.4 mmt. They also lowered Ukraine exports slightly from 16.4 mmt to 16.2 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 higher at midday after Mexico’s president announced a one-month pause on tariffs following discussions with President Trump. As part of the agreement, Mexico has committed to increasing border security.
Corn export inspections remained strong last week, nearly matching the previous week’s levels. Year-to-date, corn export inspections are running 33% ahead of last year.
Managed money funds hold a significant long position in the corn market, with over 350,000 contracts as of last Tuesday. This large position presents a risk, as any signs of technical weakness could trigger rapid fund liquidation.
Soybean futures are sharply higher at midday, rallying back to overhead resistance at the 200-day moving average.
U.S. soybean export inspections rebounded last week but remain seasonally weak. Year-to-date, soybean export inspections are up 16% compared to last year.
Weather outlooks show a drier stretch over the next seven days, which should improve harvest progress in northern and central Brazil. Meanwhile, portions of Argentina are expected to receive beneficial moisture.
Wheat futures are following other grains higher at midday after the announcement of the tariff pause with Mexico.
The U.S. Dollar Index is higher at midday but well off of its overnight lows. The dollar is working on its fifth day in a row higher.
A lack of snow cover in Russia and the U.S. Southern Plains raises concerns over potential winterkill if future cold snaps occur.
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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.
Corn prices continue to decline midday, driven by growing concerns over tariffs.
Argentina’s weather is expected to improve next week, with potential rainfall in the forecast. This could help stabilize crop conditions in some of the drier areas.
Despite the forecast the Buenos Aries Exchange lowered Argentine’s corn good/excellent crop conditions to 28% down from 30% last week.
President Trump confirmed that a 25% tariff will be imposed on Mexico, the U.S.’s largest corn buyer. In response, Mexico is likely to retaliate, with agricultural products potentially being included in those countermeasures.
Soybeans are trading higher at midday, influenced by the upcoming weather in South America and the tariffs set to take effect this weekend. Both soybeans and soybean oil are seeing gains, while soybean meal is trading lower.
The Buenos Aries Grain Exchange lowered Argentina’s good/excellent soybean crop conditions to 20%, down 2% from last week.
Heavy rain showers in central Brazil continue to disrupt soybean harvests. As the crop remains in the field longer, concerns about quality are growing, along with transportation challenges.
Analyst expected U.S. soybean crush to have reached a record in December at 217.6 mb, ahead of Mondays USDA’s monthly Grain Crushing’s report.
Wheat prices continue to decline at midday, pressured by a strong U.S. dollar and escalating tariff concerns.
The wheat markets are struggling to gain momentum, hindered by stiff export competition and a strong U.S. dollar, which is making U.S. grain more expensive compared to other global producers.
Dry weather conditions are causing tightening Black Sea supply, a situation that is likely to provide underlying support on breaks.
India’s wheat crop is now on the radar as temperatures in January have been hotter than expected and more of the warm weather is expected for February, which could lead to crop 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 is weaker at midday on what appears to be profit taking after prices reached a new 8-month high yesterday.
Weekly export sales for corn came in at 54 mb which was in line with expectations. Year-to-date commitments are up 29% from last year at 1.704 bb.
Conab reported that safrinha planting is just 1.4% done compared to 10.3% complete at this time last year.
LSEG lowered their Brazil production estimate 1% to 126 mmt. This compares to the USDA which has Brazil corn production pegged at 127 mmt.
Soybeans are weaker at midday on poor export sales and lack of demand due to China’s golden week holiday.
Weekly export sales for soybeans were at the bottom end of expectations at 16 mb. Year-to-date commitments total 1.568 bb which is up 12% from last year.
Deral reported that Parana soybean harvest is 18% complete with yields trending slightly lower than originally estimated.
One of Brazil’s most important rail terminals in the Santos region, caught on fire this morning. The terminal receives up to 2,000 trucks per day. This could offer some support in the soy complex as more information is gathered.
Wheat is trending higher at midday on poor global weather and Russian drone attacks on Ukranian ports.
Weekly export sales for wheat were in line with expectations at 18 mb. Year-to-date commitments total 667 mb which is up 8% year-over-year.
Russia’s Agriculture Minister, Oksana Lut, said that 82% of the country’s winter wheat crop is in good or satisfactory condition.
SovEcon has lowered their Russian wheat export forecast nearly 1 mmt to 42.8 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 prices remain higher at midday, with some of the strength attributed to delayed soybean harvests in Brazil. These delays are expected to push at least 30% of the safrinha corn planting beyond its optimal window.
Dr. Cordonnier noted that soybean maturity in Mato Grosso is at least two weeks behind schedule, leading to delays in corn planting. This is particularly significant because it could push corn pollination into the dry season.
Corn prices are trending higher, but upcoming tariffs could quickly shift the outlook. President Trump continues to plan a 25% tariff on Mexico and Canada starting February 1st, which could impact the market.
Ethanol average daily production for the week ending January 24th averaged 1.015 million barrels, down 7.6% from the previous week but up 2.4% compared to the same week last year. The decline in production was anticipated due to delays caused by cold weather in some areas.
Soybeans are trading higher at midday, supported by ongoing poor weather in Argentina and a slow harvest in Brazil. Soybeans, soybean meal, and soybean oil are all seeing gains.
The extended forecast for Argentina shows some potential rainfall in the next 10-15 days, but in the meantime, conditions remain less than ideal, with crops under stress.
The U.S. export window to China is closing unless President Trump can convince China to agree to Phase 1 purchase obligations. China is on a holiday through most of next week causing some delays in negotiations.
Wheat prices are higher at midday as supplies from the Black Sea and Ukraine tighten due to dry weather conditions.
The wheat market found some support as the recent cold snap in the central U.S. is believed to have caused some winterkill damage to the winter wheat crop.
Upside potential in the wheat market is likely to be limited by strong export competition and a stronger dollar.
Russia is lacking snow cover due to recent above-average temperatures, and any upcoming cold spells could lead to significant winterkill in the region. The Russian Ag Ministry also reported that 82% of the winter wheat crop is in good condition, but grain exports are expected to decline to 57 mt, down from 72 mt last year.
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 remains firm at midday on flow over support from yesterday’s export inspections as well as South Korea purchasing 132,000 mt of US corn this morning.
President Trump is being pressured to delay the gasoline shift policy which would boost ethanol consumption due to concerns over infrastructure being installed in time.
The USDA Attache estimates Argentina’s corn ending stocks at 4.245 mmt which would be 4.1% higher than the USDA’s estimate of 2.794 mmt.
South Africa forecasts their corn planted area will reach 2.65 million hectares which is just above 2024’s planted area of 2.64 million hectares.
Soybean prices are following the rest of the grain market higher at midday while receiving additional support from slow harvest pace in South America.
Brazil’s soybean harvest continues at its slowest pace since the 20/21 season. AgRural reported harvest is just 3.9% complete.
Argentina rolled out a new tax structure for farmers in hopes to pick up selling of on farm stored soybeans. Argentine farmers can sell up to 5 mmt of soybeans in US dollars and then liquidate the foreign currency within 15 days of the sale to capture the tax cut.
Wheat is higher at midday on potential rainfall moving East instead of impacting the key growing areas.
SovEcon’s Russian wheat export estimate for January is 2.1 mmt which would be the lowest January export total since 2017.
The USDA Attache has raised Argentina’s wheat ending stocks estimate to 4.093 mmt. This compares to the USDA’s 3.497 mmt 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 futures are under pressure at midday following the weekend tariff threats regarding Colombia, the third largest importer of U.S. corn.
Potential 25% tariffs on both Canada and Mexico are expected to go in place this Saturday February 1. Canada is the largest importer of U.S. ethanol while Mexico is the largest importer of U.S. corn.
Crude oil futures are lower at midday and back below the $75 mark. This morning’s weakness comes after shedding over $2.70 cents per barrel last week. Weaker crude oil is likely weighing on the entire commodity complex.
Soybean futures are lower at midday Monday as traders continue to digest Argentina’s export tax reduction announcement from late last week.
Spotty rainfall over the weekend in Argentina will be followed by another chance for showers early this week before warmer temperatures and a drier pattern set in as the calendar flips to February.
A drier weather window allowing for soybean harvest in northern Brazil may close late this week into early next week as a wetter pattern re-establishes itself. This could add quality issues, some of which have already been reported.
China starts their Lunar New Year holiday this week which will last for 10 days. Historically soybean sales to China during this holiday period are little to none.
Wheat markets are following corn and soybean markets lower at midday.
Moisture in both snow and rainfall form are forecast to fall over a significant portion of U.S. winter wheat producing regions in the plains over the next seven days. This will help to improve soil moisture conditions as we head towards spring green up.
The Black Sea region will remain drier over the next 10-days along with warmer than normal temperatures before trending colder next 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.
Corn futures continue weaker at midday following news that Argentina will temporarily reduce export taxes to incentivize farmers to sell as the harvest season ramps up in the upcoming weeks.
Heat and dry conditions continue to stress Argentina’s crops, with the 15-day forecast showing no relief in sight. Crop stress is expected to persist, and conditions are likely to worsen.
The weekly export sales report revealed corn exports at 66 mb, at the high end of expectations. Year-to-date corn export commitments total 1.650 bb, up 29% from YA, compared to the USDA’s forecast of up 7%.
Soybean futures fall at midday also following the Argentina export tax news. While soybean meal and soybeans experience losses, soybean oil sees slight gains.
Argentina’s forecast remains unchanged, with moisture deficits growing in the east-central and southeast crop regions, while the northern area has experienced some relief.
The Buenos Aires Grain Exchange reduced its production estimate by 1 mt to 49.6 mt, down from the USDA’s estimate of 52 mt for Argentina’s crops.
Soybean exports totaled 55 mb, in line with expectations. Year-to-date soybean commitments stand at 1.555 bb, up 11.5% from YA, compared to the USDA’s forecast of up 8%.
All three classes of wheat are trading lower at midday, following corn and soybeans, after the news of Argentina’s export tax reduction.
Wheat exports totaled 8 mb, at the low end of expectations, bringing year-to-date commitments to 650 mb, up 7% from YA, compared to the USDA’s forecast of up 20%.
China raised their wheat production to 140.1 mt, up 3.5 million from last season due to better yields. The strong crop and increased production are the reasons China is re-selling previously purchased wheat from Australia to other global buyers.
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.
