Corn futures continue to trade higher at midday, building on gains despite Tuesday’s declines.
The USDA lowered its final estimate for the 2024 U.S. corn harvest by nearly 2%, bringing it to 14.867 bb. Additionally, it reduced its forecast for U.S. corn stocks at the end of the 24/25 marketing year by 11%, from the December estimate to 1.54 bb.
Temperatures in Argentina are expected to be 1 to 3.5°C above normal across most of the country over the next 10 to 15 days. With dry conditions and minimal rainfall forecast, this trend is very unfavorable for crops.
Ukraine’s corn exports for the marketing year have reached 10.87 mt, down from 11.01 mt last year.
Ethanol production this week decreased by 1,095 tbd, or 322 million gallons, dropping from 324 million gallons the previous week. However, it remains 3.9% above the YA. Â
Soybeans are trading mixed at midday after a mixed start to the day. Soybeans and soybean meal are lower, while soybean oil sees some gains.
Brazil’s forecast calls for a mild temperature pattern over the next couple of weeks, with precipitation expected over the next 10 days, creating favorable growing conditions for soybeans.
Brazil’s crop agency Conab on Tuesday raised its soybean production forecast to 166.32 mmt, up from 166.21 mmt, citing favorable weather conditions ahead.
Potential moisture relief for Argentina is expected over the next week, though showers will be scattered, and some areas may not receive enough rain to prevent further deterioration of conditions.
Wheat is trading lower at midday, pressured by the strength of the U.S. dollar and weakening export demand.
Concerns are growing for the U.S. winter wheat crop as the cold snap continues across much of the central U.S. The crop has little to no ground cover, increasing fears of winterkill.
Ukraine’s exports for the 24/25 season have reached 10.336 mt, compared to 8.19 mt last year, but the pace has been slowing down over the last couple weeks.
Mexico’s wheat production has been impacted by drought in the northern half of the country, and there are concerns that wheat imports may be necessary this 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 futures looked to bounce back higher after opening lower but strong price increases over the past two days have caused a slight pullback today.
AgResource slightly lowered their estimate for Brazil’s 24/25 corn crop from 123.56 mmt to 122.39 mmt.
Taiwan’s MFIG purchasing group announced an international tender for 65,000 mt of animal feed corn. The corn can be sourced from the US, Argentina, Brazil, or South Africa.
Soybeans are weaker at midday after two strong trading days in a row. Slow harvest pace in Brazil could keep support under the market on breaks.
AgRural estimates that soybean harvest in Brazil is 0.3% done as of January 9th. This compares to 2.3% completed the same week last year.
The USDA confirmed the sale of 198,000 mt of US soybeans to China for delivery in 24/25.
All three wheat classes reversed higher at midday as the dollar backs off a 26-month high.
IKAR estimates Russian wheat exports for January were down 3.8% from December at 2.2-2.5 mmt. This is the lowest monthly exports for the month of January since 2019.
Subzero temperatures are expected for much of the plains states this weekend and into 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 are higher across the board at midday, continuing their rally higher after Friday’s supportive data from the USDA.
Strong demand and lower production have driven U.S. corn carryout estimates down by 517 million bushels since September, now pegged at 1.54 billion bushels in the January report.
The Biden Administration is expected to release guidance this week on a climate model for clean fuel tax credits. According to Reuters, the proposed changes could significantly limit ethanol producers’ access to subsidies for sustainable aviation fuel production.
Soybeans are higher at midday on follow-through buying from Friday’s friendly USDA report.
Soil moisture levels in Argentina are continuing to diminish across many regions due to well-above-normal temperatures and minimal rainfall. Relief is not expected until this coming weekend, when chances for precipitation may improve.
The USDA announced this morning the sale of 198,000 tons of soybeans for delivery to China during the current 2024/25 marketing year.
Wheat futures are higher at midday following the lead of the corn and soybean markets higher.
After a strong finish to last week the US dollar index is higher again on Monday and back above its recent highs.
Due to the National Day of Mourning last week for Jimmy Carter, CFTC Commitment of Traders data will be released this afternoon.
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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 is trading mixed at midday ahead of today’s USDA WASDE report, but still showing some strength due to a tighter supply outlook for 2025.
China has significantly reduced its estimated corn imports for the 24/25 season, lowering the forecast from 13 mt last month to 9 mt. While this would typically be bearish for the corn market, today’s USDA report is expected to show a decline in ending stocks, helping to support prices.
Rains are urgently needed to replenish Argentina’s stressed corn crop after several weeks of hot, dry weather, but showers are expected within the next week. As the world’s third-largest corn exporter, Argentina has received little to no rain since December in its primary growing region, making these upcoming rain showers crucial for sustaining crop development.
Soybeans are trading higher at midday as traders await the USDA WASDE report, scheduled for release at 11 AM Central. While soybeans and soybean oil are making gains, soybean meal is trading lower.
The soybean market is receiving support today, driven by a sharp rally in soybean oil overnight. This surge follows reports that the Biden Administration plans to release short-term guidance on clean fuel tax credits today while leaving the final decision to the incoming Trump Administration.
The USDA plays a significant role in today’s trade through the release of the WASDE report, but traders remain focused on weather conditions in Argentina and Southern Brazil. Dry and hot weather continues to stress crops in these regions; however, showers are expected next week, potentially providing much-needed relief.
Wheat prices are trading lower at midday, as the strength of the U.S. dollar and weakening exports continue to pressure the market.
The wheat market remains quiet ahead of today’s USDA report, largely due to expectations of burdensome U.S. ending stocks and a generally weak technical outlook.
The USDA is expected to forecast total winter wheat seedings at 33.37 million acres, slightly down from 33.39 million acres last year.
The winter wheat crop in the southern Plains received beneficial moisture yesterday and overnight, but conditions are expected to dry out across most of the Plains over the 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 is slightly lower at midday with little trading activity due to the shortened trading hours.
Drought conditions in Mexico have caused the country to ramp up corn purchases from the U.S. The dry pattern is expected to continue which could keep Mexico active in buying U.S. grain.
Yesterday’s EIA report showed ethanol production at 1.102 mbpd which was down 9% from last week but up 3.8% from the same week last year. Ethanol stocks increased to 24.148 mb which was the highest since May 17, 2024.
Soybeans remain mostly lower at midday on potential rainfall in Argentina in the 10–15 day forecast.
Soybean harvest has started in Brazil’s largest soybean production state. According to IMEA, an agriculture institute in the Mato Grasso state, soybean production is estimated to rise 12.78% to 44 mmt.
According to Anec, Brazil’s January soybean exports are estimated at 1.71 mmt, which is down almost 30% from January 2023.
Wheat continues to trade lower at midday on rain showers in Texas and Oklahoma and estimates of rising U.S. ending stocks in tomorrow’s WASDE report.
Bolivia’s government extended their tariff exemption on wheat imports through August 31, 2025. The exemption was originally scheduled to end on December 31, 2024. The government hopes this will help build wheat and wheat flour supplies after producers mentioned they would increase prices.
India’s wheat production forecast was unchanged from the previous forecast at 112.7 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 continue to trade lower at midday, as the U.S. dollar rallies sharply following reports that the Trump Administration may issue a national emergency declaration to justify universal tariffs.
Increasing temperatures and dry weather are forecast for Argentina and Paraguay in the coming weeks. As conditions worsen, the corn crop is at risk of significant stress over the next couple of weeks.
Ukraine implemented a new minimum price export system for corn, which significantly slowed exports in December. Ukraine’s December corn exports totaled 2.498 mt down 3.118 from last year. This slowdown has proven beneficial for U.S. corn exports.
Soybeans trade lower at midday, due to the strong rally of the U.S. dollar. Both soybeans and soybean meal are trading lower, while soybean oil is trading higher.
Weather conditions in Argentina remain concerning, with increasing temperatures and dry conditions expected over the next couple of weeks, potentially stressing some of the late-planted soybeans.
USDA confirms the sale of 120,000 tons of U.S. soybeans to be delivered to an unknown destination.
Analysts expect the USDA to slightly reduce its 2024 soybean production estimate by approximately 8 mb. Even with this reduction, the 2024 crop would still be 7% above 2023 production and remain the second-largest U.S. harvest on record.
All three wheat classes are trading lower at midday, as the surge in the U.S. dollar continues to put pressure on wheat prices.
Persistent signs of deterioration in the winter wheat crop across the U.S. Plains could offer some support to wheat markets, as crop ratings decline in these states due to dry conditions and an ongoing cold snap.
Wheat exports from Russia and the EU are expected to be lower than last year, but with reduced wheat demand and increased exports from Australia and Argentina, this could compensate for the lower production and exports from Russia and the EU.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn continues to trade lower at midday, with futures showing signs of losing momentum due to declining exports and the anticipation of a large South American crop.
USDA confirms the sale of 110,000 tons of US corn for delivery to Columbia in 24/25.
Funds net long position grew significantly last week, reaching a 22-month high, as Argentina’s drying trend attracted new buyers.
Currently, Argentina’s corn production losses are minimal, but if dry conditions persist into the second half of January, concerns are expected to grow.
Soybeans remain lower at midday, despite growing concerns over the heat and dry weather in Argentina. Both soybeans and soybean meal are trading down, while soybean oil is experiencing slight gains.
The upside potential for soybeans has been constrained due to expectations of a record crop in Brazil, the world’s leading soybean producer. Traders will remain focused on the USDA Supply and Demand report, looking for any upward revision to Brazil’s soybean estimate, which currently stands at 169 mmt.
The anticipation of the USDA Supply and Demand report, set for release this Friday, is likely to keep prices volatile in the meantime. Meanwhile, concerns over trade wars will likely continue to cap rallies, as uncertainty surrounding potential changes in tariff policies under the incoming Trump administration persists.
Wheat futures are trading higher at midday, supported by the strength of the dollar and tough export competition, which provide underlying strength to the wheat markets. Additionally, expectations of shrinking supply from Russia, the world’s top wheat exporter, are adding strength.
Approximately 25% of the national winter wheat crop is stressed due to drought, raising concerns about the spring crop. For the US, wheat ratings in Kansas and Oklahoma have declined due to dry conditions in parts of the states, along with other areas in the Midwest.
This week’s heavy snowfall in central and eastern Kansas provided welcome moisture to the winter wheat crop and is expected to offer some cover as the cold snap persists over the next two weeks.
Domestic wheat prices in India continue to rise to record highs, as the government’s sale of wheat stocks and restrictions on how much wheat millers can hold have failed to bring prices down.
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 sharply higher at midday with prices back near last week’s highs.
A drier extended outlook for Argentina is aiding corn futures higher to start the week. Argentina’s corn crop was 87% planted as of late last week and still in good condition according to the BAGE. Conditions are expected to deteriorate however over the next two weeks.
The USDA’s January WASDE and Quarterly Grain Stocks reports, historically one of the most volatile of the year, will be released Friday.
Soybeans are higher at midday on a drier and warmer Argentine forecast over the weekend.
The next ten days to two weeks will be warm and dry in Argentina with declines in soil moisture and increased crop stress likely. Southern Brazil will also be dry during this stretch while central and western Brazil will be wet with excessive moisture in some regions.
Rumors of a shift in tariff policy for the incoming Trump administration are helping to rally beans this morning as well. Reportedly the administration team is signaling that tariffs will only be placed on certain sectors deemed critical to national or economic security, not universal across the board as previously stated.
Wheat futures are double digits higher at midday, gains in the corn and soybean markets and a lower US dollar are adding support.
The US Dollar Index is sharply lower to start the week after trading to its highest level since May of 2022 late last week.
Heavy snowfall and freezing rain from Kansas to points eastward disrupted travel over the weekend with snow still falling in the Ohio Valley this morning. The moisture was seen as mostly beneficial to wheat producing areas with snowfall helping to insulate the wheat from an upcoming arctic air blast.
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 lower at midday after closing higher in eight of the last nine trading sessions.
Corn export sales last week came in near the lower end of expectations totaling 30.6 mb, Mexico was the top buyer.
US corn used for ethanol in November totaled 465 mb, 1.7% higher than November of 2023.
Soybeans are trading lower at midday after a strong close to end 2024.
Much of Argentina, Uruguay, southern Brazil and Paraguay will be mostly dry through the next two weeks.
US soybean crushing in November totaled 210 mb, 5% higher than the same period last year according to the USDA.
All three wheat classes are trading lower at midday yet again after the US Dollar traded to 26-month highs this week.
A system will bring widespread snowfall across the heart of the US this weekend, snow totals will be heavier across the eastern Plains. Cold will likely set in for the next few weeks which may harm dormant winter wheat not covered by snow.
Wheat export sales were poor last week coming in at just 5.2 mb, this was a marketing year low and down 77% from the previous 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 is leaning higher at midday after March corn reached 6-month highs on Tuesday.
Expanding dry conditions throughout Argentina and Southern Brazil could help keep support on breaks.
Emater estimates that corn plantings in Rio Grande do Sul have reached 95%.
Soybeans are trading higher at midday after a strong close to end 2024 on Tuesday.
Indonesia has not yet finalized their regulations for the implementation of B40 blend biodiesel but is aiming to have this completed this week.
NASS Crush will be released this afternoon with average trade guesses for crush around 206-208.1 mb, which would be about 4% higher from a year ago.
All three wheat classes are trading lower at midday on a higher US dollar and added precipitation across the Plains states in the next 6-10 days.
Mexico announced they will temporarily remove their wheat import tariff to rebuild stocks and lower domestic prices.
EU wheat prices hit 6-month highs overnight, which could offer some support under the market.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
