Midday

All prices as of 10:30 am Central Time

• 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. 

All prices as of 10:30 am Central Time

• 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. 

All prices as of 10:30 am Central Time

• 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. 

All prices as of 10:30 am Central Time

• 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. 

All prices as of 10:30 am Central Time

• 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. 

All prices as of 10:30 am Central Time

• Corn prices are trending higher at midday on some flow over support from yesterday’s export sale of 136,000 mt of corn to unknown destinations.
• ADM has declared force majeure at their Gulf ports in the U.S. due to the historic snowstorm event that blanketed the Southern U.S. with snow.
• There is some uncertainty surrounding the ethanol industry as Secretary of Agriculture Brooke Rollins has been opposed to ethanol mandates and farm subsidies in the past.

• Soybeans are trading higher at midday after a sluggish start on news of China suspending soybean imports from Brazil.
• China has suspended soybean imports from Brazil after contamination was found from five shipping firms. Brazil has notified China that they will increase inspections and request the suspensions be lifted.
• There are some concerns around biofuels after the Biden administrations 45z biofuel tax credit was halted by the new administration for 60 days for review.

• Wheat futures are trading higher at midday on drier weather forecasts for the Plains states over the next five days.
• The U.S. attache in Australia left their Australian wheat production number unchanged at 32 mmt, but raised ending stocks 3.112 mmt.
• French dockworkers unions are scheduled to go on strike today which will affect port operations and wheat shipments.

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. 

All prices as of 10:30 am Central Time

• Corn prices are lower at midday, influenced by the potential for improved weather conditions in parts of Argentina and ongoing negotiations regarding potential tariffs.
• USDA confirms sale of 136,000 mt of U.S. corn delivery to unknown destinations in the 24/25 year.
• Dr. Cordonnier reduced his Argentine corn estimate by 1 mt, bringing it to 48 million, compared to the USDA’s estimate of 51 million, while leaving Brazil’s forecast unchanged.
• Corn prices remain supported by expectations that President Trump will urge China to honor the Phase 1 trade agreement from his first term, potentially leading to significant U.S. corn purchases.

• Soybean prices continue to decline at midday, following China’s announcement today. While soybeans and soybean oil remain lower, soybean meal experiences some gains.
• China has suspended soybean imports from five Brazilian firms due to failure to meet phytosanitary standards. Sources indicate concerns arose after shipments were found to contain chemical contaminants, pests, and insects.
• The U.S. dollar is slightly lower today following a sharp decline yesterday. Despite the currency drop, Brazilian soybeans remain significantly cheaper than U.S. prices, which could slow the rally, particularly with expectations of improved harvest conditions in Brazil in the coming weeks.
• Deral reports that the soybean harvest in Brazil’s state of Paraná is 8% complete, while Mato Grosso’s harvest is 2% finished, compared to 13% at this time last year. The delay is attributed to unfavorable weather conditions.

• Wheat prices are higher at midday, bolstered by a weaker dollar, continued cold temperatures, and several global demand tenders.
• Concerns about winter kill persist for exposed winter wheat due to a lack of snow cover and the ongoing cold snap across the U.S.
• Russian wheat delivery for the first part of February fell to $234 pet MT, down $3 from the previous week, reported by the IKAR consultancy.

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. 

All prices as of 10:30 am Central Time

• Corn trends higher at midday on tariff delays and a lower dollar which could help to keep export business positive.
• CFTC data from Friday showed funds hold their largest net long position in 2 years at just under 300,000 contracts.
• AgRural has said that safrina corn planting in the central-southern region of Argentina is just 0.3% complete. This compares to 4.91% last year.

• Soybeans continue to firm at midday on Trump’s decision to delay tariffs and light rainfall in Argentina over the weekend.
• President Trump has mentioned he will limit used cooking oil imports from China which has given the soy complex a positive boost.
• AgRural says harvest in the Mato Grosso area is at its slowest pace since the 2010 timeframe, but drier conditions could help to speed things up.

• The wheat market is higher at midday on extreme cold temperatures across the Plains states and a lower US dollar.
• IKAR says Russian wheat prices have fallen $3/MT to $234/MT. President Putin has also mentioned he is ready to talk with President Trump about the ongoing war with Ukraine.
• Interfax reported that Ukraine’s grain and oilseed exports have risen since July to 24.19 mmt which is 2 mmt higher than 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. 

The CME and Total Farm Marketing offices will be closed Monday, January 20, in observance of Martin Luther King Jr Day.

 

All prices as of 10:30 am Central Time

• Corn continues to trade higher at midday after finding some support from yesterday’s drop in prices. March futures are trading at their highest level since June 16, 2024.
• The International Grains Council lowered their global corn stocks forecast from 275 mmt to 272 mmt.
• Buenos Aires Grain Exchange reported that corn crop conditions in Argentina have fallen from 42% good-to-excellent last week to 39% good-to-excellent this week.

• Soybeans are bouncing back after yesterday’s sharp pullback. March futures are back above the 100-day moving average. Bean oil and meal are also higher at midday.
• President Trump’s Treasury Secretary nominee has mentioned he will push China to adhere to the Phase 1 purchase agreements that were signed during Trump’s first term. This has kept some level of support in the market in hopes the reported tariffs won’t be as bearish for US agriculture as originally thought.
• The Buenos Aires Grain Exchange reported that soybean crop conditions have deteriorated in Argentina. Conditions have fallen from 49% good-to-excellent last week to 32% good-to-excellent this week. This also compares to 40% good-to-excellent last year.

• Wheat futures are following the rest of the grain complex higher. March Chicago futures have gained back almost half of what was lost yesterday.
• SovEcon estimates that Russia’s December 1 wheat stocks are at 18.7 mmt, which is down from 24.8 mmt from a year ago.
• The International Grains Council lowered their global grain stocks estimate by 3 mmt to 573 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. 

The CME and Total Farm Marketing offices will be closed Monday, January 20, in observance of Martin Luther King Jr Day.

 

All prices as of 10:30 am Central Time

• Corn continues to trade lower at midday on forecasted rainfall in Argentina this weekend and lighter trading volume.
• Weekly corn export sales came in at 40 mb, which was on the high end of trade expectations. Year-to-date commitments total 1.585 bb, which is up 28% from last year.
• Weekly US ethanol production was 4% higher than the same week last year at 1.095 million barrels.
• Rosario Grain Exchange cut their Argentina corn crop estimate to 48 mmt, down from 50 mmt in their last forecast.

• Soybeans are lower at midday on expected rainfall in South America which will help to boost their production prospects.
• Weekly soybean export sales came in at 21 mb, which was in line with trade expectations. Year-to-date commitments total 1.502 bb which is up 9% from a year ago.
• NOPA crush for the month of December came in at a record 206.6 mb. This compares to 195.3 mb crushed in December of last year.

• Wheat remains lower at midday, following the rest of the grain market. Good winter wheat conditions in the US and the dollar rising have made it hard for wheat to sustain any rally.
• Weekly wheat export sales came in above trade expectations at 19 mb. Year-to-date commitments total 644 mb which is up 9% from last year.
• Russian wheat ending stocks are estimated at 10 mmt which is down from 20.2 mmt last year.
• According to SovEcon, Russian wheat shipments through the first half of January are 900,000 mt. This compares to 1.4 mmt in the first half of January 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.