Midday

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.

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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

• By midday Wednesday, corn turned higher, although the lack of significant market-moving news limited the rally. December corn is up at 4.14½.
• CONAB’s latest production estimate fell short of market expectations, suggesting a more modest output outlook. Meanwhile, export inspections declined 33.6% from the prior week but continued to outpace last year’s levels, up 119.7%.
• Forecasts indicate a wetter trend moving into the central and eastern Corn Belt over the coming week, which may cause only slight disruptions to harvest progress. The 8–14 day outlook suggests a transition to drier conditions across the entire Midwest, accompanied by continued above-normal temperatures.

• By midday, soybeans moved into positive territory as traders reacted to developments out of China. Amid the ongoing government shutdown, limited market news with a hint of optimism has been enough to trigger modest gains. November soybeans are at 10.07½, with the entire soy complex showing midday strength.
• President Trump threatened to halt imports of Chinese cooking oil, a move traders viewed as supportive for U.S. soybean oil prices. China’s cooking oil exports to the U.S. are already down 65% year over year.
• USTR representative Greer stated yesterday that it is up to China whether the 100% tariff will take effect on November 1, noting that discussions are ongoing to find a path forward following China’s unprecedented rare earth export controls. China’s increasingly aggressive stance is likely to keep soybean markets under pressure until there is a shift in tone or a Trump–Xi meeting is confirmed.

• Wheat futures are lower at midday amid the ongoing government shutdown. With limited market-moving news, traders see little incentive to push prices higher. December wheat is down at 4.96 ½.
• CONAB’s latest Brazil wheat report leaned slightly bearish, with higher yield projections and increased ending stocks versus a year ago, signaling improved supply conditions.
• While export expectations were at the lower end of the projections, they remain 17% above last September, with marketing-year-to-date shipments up 18%.
• LSEG maintained their production estimates for the EU, UK, and Australia, leaving them unchanged from 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 futures are trading higher at midday, supported by strong export inspections. December futures are up 1-1/4 cents to $4.12-00, while March futures are a penny higher to $4.28-1/4.
• Conab estimates that Brazil’s corn production for the 2025/26 season will reach 138.60 mmt, up slightly from the group’s previous estimate of 138.28 mmt.
• According to a Reuters survey, U.S. corn harvest is seen at 44% complete. Harvest could be on pause later this week as rainfall moves into the Corn Belt through the early part of this week.
• U.S. export inspections for the week ending October 10 came in at 1.30 mmt, down from 1.701 mmt last week but up from the same week last year of 514k mt.

• Soybeans remain lower at midday as optimism weakens regarding trade talks between the U.S. and China early next month. November soybeans are down 5-3/4 cents to $10.02-00, while January futures are 5-1/2 cents lower to $10.19-3/4.
• According to Conab, Brazil’s soybean crop is seen at a record 177.64 mmt. If realized, this would be up nearly 6 mmt from last year’s production.
• NOPA crush data for September is expected to be released on Wednesday. This will be one of the few data releases that will give the market some information to trade off while the government is still shut down.
• U.S. export inspections for soybeans totaled 994k mt, which was on the high end of estimates. This compares to 783k mt last week and 1.908 mmt last year.

• Wheat prices are firmer at midday, supported by a slight drop in the U.S. dollar and rising corn prices. December Chicago is up 3-1/2 cents to $5.00-1/4, December KC is up 5-1/2 cents to $4.86-3/4, and December Minneapolis is 1-00 cent higher to $5.25-1/2.
• U.S. export inspections for wheat came in on the low end of estimates at 444k mt. This compares to 548k mt the week prior and 380k mt the same week last year.
• According to a Reuters survey, winter wheat planting in the U.S. is seen at 66%. Ukraine’s sowing, much like the U.S., is seen at 62% sown.

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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 trading lower to start the week, following Friday’s market reaction to President Trump’s announcement that he saw no reason to meet with China. While the news had a larger impact on soybeans, it also pressured corn, triggering heavy fund selling of approximately 19,500 contracts. Corn open interest rose by more than 22,000 contracts, indicating that new shorts were active in pushing prices lower.
• The U.S. corn harvest is estimated at 45–50% complete. The pace is expected to slow later this week as scattered showers move into the western Corn Belt and spread eastward, with the 6–10 day forecast showing above-normal precipitation for the eastern Belt.
• Brazil’s CONAB will release its 2025/26 estimates tomorrow. Planted area is expected to rise to 22.8 million hectares, up from 21.9 million last season, while production is anticipated at 141.3 million metric tons, compared with 139.7 million last year.

• Soybean futures are trading higher at midday, posting modest gains as the market rebounds from Friday’s decline. Prices are recovering after President Trump’s announcement this morning that trade talks with China remain on track for early November. This follows his earlier statement on Friday, suggesting there was no reason to meet with China at that time. Meanwhile, soybean meal is posting slight losses, while soybeans and soybean oil are both seeing modest gains.
• Patria reports that Brazil’s soybean planting is 12.48% complete, well ahead of 5.28% at the same time last year. Scattered rains are expected across parts of Brazil this week, which should improve soil moisture conditions and support further planting progress.
• There will be no U.S. government data released today, but Brazil’s CONAB is set to publish its first outlook for the 2025/26 crop tomorrow morning. The agency is expected to project planted area at 49.1 million hectares, up from 47.4 million last season, with production forecast at 179 million metric tons compared to 171.5 million last year.
• The U.S. soybean harvest is estimated to be around 65–70% complete. However, scattered rains across the western Corn Belt this week may slow harvest activity, with additional rainfall expected to move into the eastern Belt heading into the weekend.

• Wheat futures are trading higher at midday despite reports of increased Russian production. Traders remain optimistic following President Trump’s statement that U.S.–China trade talks are on track for early November.
• Open interest in wheat rose by nearly 15,000 contracts on the decline, suggesting that new sellers were confident in driving the market to fresh lows.
• Wheat continues to struggle, with global supplies remaining ample and U.S. ending stocks weighing heavily on the market.
• The Russian wheat export pace is accelerating this month, with estimates of 5.0 million tons shipped, up from 4.6 million in September. However, exports for the July–September period are down 30% compared to the same period 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. 

Grain Market Insider Interactive Quote Board

• Corn continues to trade lower at midday, as traders remain uncertain whether export demand is improving amid the lack of official export data. That uncertainty is contributing to additional downward pressure on the corn market during the government shutdown. December corn is trading lower at 4.13 ¼ at midday.
• The corn market hit a new low for the week, pressured by weakness in the soybean market and comments from President Trump regarding lower gasoline prices — a factor that could also lead to lower crude oil values.
• Argentina’s soybean planting is 25.6% complete, up from 19% at this time last year. The total planted area is expected to increase by 700,000 hectares compared to a year ago.
• The U.S. harvest continues to make rapid progress, supported by favorable weather over the next five days. However, above-normal precipitation is expected across the western Corn Belt during days 6–10 of the forecast period.

• Pressure continues on the soybean market at midday, driven by weakness in soybean oil following an unexpected rise in September Malaysian palm oil stocks — now at a two-year high. The entire soy complex trades lower at midday. November soybeans are trading lower at 10.04 ¾ at midday.
• The soybean market is showing some skepticism after President Trump announced yesterday that he expects China to begin purchasing U.S. soybeans following the November meeting. However, he also indicated that if no progress is made, he is likely to increase pressure — a statement the market interpreted as a bearish signal.
• The lack of official reports during the government shutdown has left soybeans more sensitive to headlines and technical factors. Meanwhile, China reportedly purchased up to six cargoes of Brazilian soybeans yesterday, following the end of its Golden Week holiday, putting additional downward pressure on the soybean market.

• Wheat prices continue to move toward new contract lows, pressured by another increase in Russia’s crop estimates. December wheat is down midday at 4.98 ½.
• SovEcon raised its Russian wheat production estimate to 87.8 million tons, up from 87.2 million tons previously. Meanwhile, Russia indicated it may increase its export quota early next year.
• Brazil’s wheat harvest is beginning in Rio Grande do Sul, the country’s largest wheat-producing state.
• French SRW wheat is now 5% planted compared to 8% 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 is slightly weaker at midday, pressured by the ongoing harvest. December corn is up a 00-1/2 cent to $4.22-1/4, with March futures 00-3/4 cent lower to $4.37-00.
• LSEG has lowered their Chinese corn production estimate by less than 1% from their previous estimate to 298.2 mmt.
• China’s Ag Ministry lowered the countries corn imports forecast by 1 mmt to 6 mmt. They also lowered October corn stocks by 1 mmt to 2.46 mmt.

• Soybeans continue to trade lower at midday as optimism drops regarding talks between President Trump and China’s Xi. November soybeans are down 4-00 cents to $10.25-1/2, while January futures are 3-00 cents lower to $10.41-1/4.
• Anec sees Brazil’s October soybean exports at 7.1 mmt, up from 4.44 mmt during October 2024. Soybean meal exports during the month are estimated at 1.92 mmt, down from 2.46 mmt in October last year.
• StoneX sees Brazil’s biodiesel demand increasing by 6.3% in 2026 to 10.5 billion litres. The increase in biodiesel will also increase soybean oil usage.

• Wheat prices remain higher at midday on some short covering. December Chicago futures are up 4-00 cents to $5.11-1/4, December KC is up 00-1/4 cent to $4.93-1/2-, and December Minneapolis is up 4-3/4 cents to $5.60-1/4.
• SovEcon reported that Siberia’s could see some c.rop losses as the country is experiencing its first snowfall of the year. There is an estimated 2 million tonnes left to harvest which is likely contributing to the short covering in the wheat market today.
• The Rosario Grain Exchange increased their wheat production estimate in Argentina yesterday to 23 mmt, up 3 mmt from the previous 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. 

Grain Market Insider Interactive Quote Board

• Corn futures are mixed at midday as the harvest season enters its peak. Over the next two weeks, a surge in corn supply is expected as freshly harvested grain flows into the market. December corn is up at $4.20 ½.
• Ethanol production rebounded to 315 million gallons for the week ending October 3, up from 293 million the previous week and 3.2% higher than the YA. This week’s production came in above expectations.
• Corn planting in Brazil is approximately 40% complete, keeping pace with seasonal expectations.
• Cordonnier lowered his U.S. corn yield estimate to 181 BPA, down 1 bushel from his previous forecast.

• Soybeans are trading higher at midday across the entire soy complex, supported by optimism surrounding upcoming U.S.-China trade talks. President Trump referenced the meeting with President Xi again yesterday, boosting market sentiment. November soybeans are up at midday at $10.25 ¾.
• Port fees on certain Chinese vessels entering U.S. ports are still scheduled to take effect on October 14, potentially undermining any trade optimism between the U.S. and China and putting downward pressure on soybean markets.
• The U.S. farm aid package is expected to be announced this week. Its release was delayed due to the government shutdown, and it is anticipated to total $10–$15 billion, including support for soybean producers affected by tariffs.

• Wheat markets are trading higher at midday. Despite pressure from the rallying U.S. dollar, the market is finding support from recent news out of Russia. December wheat is up at 5.07 1/4.
• Russian exports are starting to pick up, and the weaker euro is improving the EU’s export competitiveness.
• Russia announced this morning that a President Trump broken cease-fire deal appears to have fallen through, potentially prompting the U.S. and EU to intensify pressure on Russia.

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 remain weaker at midday as harvest pressure continues. December corn is down 1-00 cents to $4.20-3/4, while the March contract is down 1-1/4 cents to $4.37-00.
• Rain showers across the Midwest early this week will delay harvest for a short period of time, but the 5-10 day outlook shows a dry forecast which will help advance harvest.
• US corn harvest is seen at 31% complete, up from 18% last week according to a survey completed by Bloomberg.
• Brazil’s corn exports for September totaled 7.56 mmt, up more than 10% from August and nearly 18% higher from a year ago.

• Soybeans continue to trade higher at midday on optimism between US and China trade talks in the upcoming weeks. November soybeans are up 3-1/4 cents to $10.21-00 and the January contract is up 3-00 cents to $10.38-3/4.
• According to AgRural, soybean planting across Brazil is now estimated at 9% complete, up from 3% done last week, and 4% planted through the same week last year.
• Brazil continues to benefit from the ongoing trade war between the US and China with the countries September soybean exports up more than 20% year-over-year.

• Wheat prices are lower at midday, pressured by a rise in the US dollar. December Chicago futures are down 2-3/4 cents to $5.10-00, December KC is down 1-3/4 cents to $4.93-3/4, and December Minneapolis is 1-3/4 lower to $5.54-3/4.
• Ukraine’s Economic Ministry reported that the countries winter grain sowing is behind last year’s pace. Winter wheat sown in Ukraine so far accounts for 2.3 million hectares which is down 12% from a year ago.
• Bangladesh has announced a deal with the US for the purchase of 220,000 tons of wheat. US associates will be the supplier in the purchase, and the price is agreed upon at $308/ton.

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 slightly lower to start the week as harvest progresses rapidly across the U.S. December corn futures are currently down a penny trading at 418. July corn futures are currently down 1-1/2 cents trading at 450-3/4.
• Several private analysts have trimmed their U.S. corn yield estimates over the past week, with most now centered near 185 bpa. The scheduled USDA WASDE report will not be released due to the government shutdown, meaning the next official update on crop size will likely come in November.
• U.S. corn harvest is estimated to be about one-third complete as of Sunday. While some showers are moving through the Corn Belt early this week, forecasts call for warmer and drier-than-normal conditions over the next 10 days, which should support continued harvest progress.

• Soybean futures are slightly lower to start the week as optimism around a U.S./China trade deal regarding soybeans is waning. November soybeans are currently down 2 cents trading at 1016-1/4. March soybeans are down 1-1/4 cents currently trading at 1051.
• Soybean planting is underway in Brazil, with Mato Grosso — the country’s largest producing state — estimated to be 15% planted, well ahead of the five-year average pace of 6%.
• With no official Crop Progress report this afternoon due to the government shutdown, harvest progress estimates are based on prior data. As of September 28, harvest was 19% complete, and the recent stretch of dry weather likely pushed progress past the 50% mark.

• Wheat futures are mixed at midday. December Chicago wheat futures are down a ½ cent trading at 514-1/2. December KCBOT wheat futures are down 1-1/2 cents trading at 495-1/2. December Spring wheat futures are up 1 cent trading at 560-3/4.
• The expanding global wheat supply from major exporters continues to pressure the market near contract lows. Recent production estimate increases from Russia, the EU, Canada, and Argentina — along with expectations for a higher Australian crop on favorable weather — have kept wheat on the defensive.
• U.S. winter wheat planting likely surpassed the halfway mark over the weekend, though official progress data will not be released this afternoon due to the ongoing government shutdown.

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 starting to reverse higher, lifted by support in the soy complex. December corn is unchanged at $4.21-3/4, while the March contract is up 0-1/4 cents to $4.38-1/4.
• S&P Global has reduced their U.S. corn yield projection by 3.6 bpa, to 185.5 bpa. This compares to the USDA’s estimate of 186.7 bpa.
• According to FranceAgriMer, France’s corn harvest has advanced to 24% complete, up 10% from the week prior and on par with the 5-year average.

• Soybeans are finding support at midday as the market digests some recent production estimates. November soybeans are 3-1/4 cents higher to $10.27-00, while the January contract is up 3 cents to $10.44-3/4.
• S&P Global lowered its U.S. soybean yield estimate to 53 bpa, down from the group’s previous estimate of 53.8 bpa last month.
• StoneX raised their soybean yield estimate to 53.9 bpa, up from their previous forecast of 53.2 bpa. This has also improved soybean production by 69 mb to 4.326 billion bushels.

• The wheat market is mixed at midday, with Chicago leading higher. December Chicago wheat is 1-00 cent higher to $5.15-3/4, Minneapolis is up 0-1/2 to $5.61, and Kansas City is down 0-1/2 to $4.98-½.
• The Buenos Aires Grain Exchange reported that sufficient soil moisture has been beneficial to Argentina’s wheat yields for the 2025/26 season. The group mentioned that wheat yields are near historic levels as a result of plentiful rainfall.
• According to Ukraine’s agriculture ministry, 2026 winter wheat plantings are now up 9% from the prior forecast to 5.2 million hectares. The ministry cited drought conditions as the cause for the shift from corn and sunflowers to winter 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.