Midday

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• Corn futures are modestly higher at midday as the market looks to stabilize after late-September weakness. December corn is up 1 cent, trading at 417-1/2, while March corn is up 1-1/2 cents, trading at 434-1/4 currently.
• With the government shutdown, export sales data and the October 9 WASDE report have been postponed.
• Ethanol production slipped 3% last week to 995,000 barrels per day, a five-month low likely tied to pre-harvest maintenance at some plants. An estimated 99 mb of corn were used in ethanol production last week, this is below the amount needed to reach the USDA corn usage estimate of 5.60 bb.

• Soybeans are higher at midday with follow-through gains from yesterday’s strong close. November soybeans are up 5-3/4 cents, trading at 1018-3/,4 while March soybeans are 5 cents higher, trading at 1051-1/4 currently.
• President Trump announced he will meet with Chinese President Xi in four weeks, with soybeans stated to be a key focus. China has yet to book any U.S. soybean purchases for the current marketing year.
• Harvest progress should benefit from favorable weather throughout the remainder of the week, though rain chances increase across some of the Corn Belt early next week.

• Wheat futures are trading higher at midday, supported by strength in corn and soybean markets as wheat attempts to rebound from recent lows. December Chicago wheat is up 5-1/2 cents at 515. December KC wheat is up 3-3/4 cents at 499-1/4 while December Spring wheat is up 5-1/2 cents at 562-1/2.
• All three wheat contracts posted new lows on Wednesday after September 1 stocks came in above expectations in the Quarterly Grain Stocks report.
• The U.S. ag attaché in China left the country’s wheat production estimate unchanged at 140 mmt but raised import projections by 1.6 mmt to 6 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. 

Grain Market Insider Interactive Quote Board

• Corn is trading lower at midday as bearish USDA stocks data, combined with continued favorable harvest weather, weigh on prices and add pressure to the market.
• Dr. Cordonnier maintained his U.S. corn yield estimate at 182 bpa, noting that the ‘southern rust’ remains a significant concern in parts of the Midwest.
• In Argentina, favorable soil moisture has supported planting progress, now nearly 20% complete, but forecasts suggest conditions will begin to dry over the next 10 days. Brazil has also experienced dryness, though rain chances are expected to improve in the second week of the outlook.
• The Buenos Aires Grain Exchange projects Argentina’s corn production could rise to 58 million tons in the upcoming season, up from 49 million last year, as farmers are expected to increase planted acreage.
• Ethanol production fell to 292 million gallons in the week ending September 26, down from 301 million the previous week and 2% below year-ago levels. Output marked the lowest in 4.5 months and came in well under expectations.

• Soybean futures are trading lower at midday, pressured by yesterday’s neutral quarterly stocks report and added uncertainty from the overnight government shutdown. Both soybeans and soybean meal are moving lower, while soybean oil is holding modest gains.
• This afternoon’s NASS August soybean crush report is not expected to be released, and tomorrow morning’s export sales data will also be delayed due to the government shutdown.
• Following a meeting between the U.S. ambassador and Chinese officials last night, lawmakers noted that China will not be purchasing any U.S. agricultural products in the near term, with no timeline set for a deal. This development is weighing heavily on soybean markets.
• The Buenos Aires Grain Exchange estimates Brazil’s new crop soybean production at 48.5 million tons, down from 50.3 million last season, as some producers shift acreage from soybeans to corn.
• Dr. Cordonnier maintained his U.S. soybean yield estimate at 52 bushels per acre, noting that the dry finish has produced smaller, lighter seeds—a trend also observed by producers in the eastern belt.

• Wheat futures are also trading lower at midday across all three classes, pressured by yesterday’s USDA data, which proved disappointing. Stocks increased more than expected, and U.S. wheat production came in higher than anticipated, adding further pressure to the market.
• The Buenos Aires Grain Exchange raised its Argentina wheat production estimate to 22 million tons, up 1.5 million from its previous forecast, with harvest expected to begin in November.
• LSEG raised its Canadian wheat production estimate by 4.4% to 36.5 million tons as harvest progresses.
• A U.S. Attache left China’s wheat production estimate unchanged at 140 million tons but raised the wheat import forecast to 6 million tons, up from 4.2 million last year.
• Taiwan is currently tendering for 80,000 tons of U.S. 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. 

Grain Market Insider Interactive Quote Board

• Corn remains lower at midday, pressured by yesterday’s bearish Crop Progress report. December corn is down 3-1/4 cents to $4.18-1/4, while the March contract is 3-3/4 cents lower to $4.34-3/4.
• Monday’s Crop Progress report showed corn ratings unchanged from the previous week at 66% good-to-excellent. Harvest advanced to 18% complete, up from 11% last week, but down from 20% through the same week last year.
• Today’s quarterly stocks report is expected to show stocks at 1.337 billion bushels, down from 1.763 billion bushels last year.
• Weather remains favorable through the weekend before rain chances move in early next week. This should help harvest to progress before any potential delays.

• Soybeans continue to see weakness at midday as harvest pressure brings down prices. November soybeans are 6-1/2 cents lower to $10.04-00, with the January contract trading 7-00 cents lower to $10.22-3/4.
• Yesterday’s Crop Progress report showed soybean ratings improving 1 point to 62% good-to-excellent. Harvest jumped to 19% done, up from 9% last week, but down from 24% complete through the same week a year ago.
• The average guess for today’s soybean stocks figure is 323 million bushels, which is below last year’s 342 million bushels.
• According to AgRural, Brazil’s soybean planting is now 3.2% complete, up from 0.9% last week and ahead of last year’s pace of 2% at this time.

• Wheat prices are lower at midday as the market is anticipating higher wheat stocks compared to a year ago. December Chicago wheat futures are down 3-1/2 cents to $5.16-00.
• Winter wheat planting now sits at 34%, up from 20% a week ago, but slightly behind last year’s pace of 37% complete through the same week. Winter wheat emerged is at 13%, which is on par with last year’s figure.
• Wheat stocks are expected to increase to 2.043 billion bushels in today’s stocks report, which would be up from 1.992 billion bushels in last September’s report.
• According to Poland’s central statistical office, the country’s wheat output is now expected to reach 13.4 million tons, up from last year’s 12.8 million.

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 recovered from early losses to trade near unchanged at midday, supported by USDA daily flash sale announcements. December corn futures are unchanged currently at 422, while March corn futures are a ½ cent lower trading at 438-1/4.
• Favorable harvest conditions last week and over the weekend likely pushed U.S. corn harvest progress to around 25% complete as of Sunday. Updated figures will be released in this afternoon’s USDA Crop Progress report.
• U.S. corn export demand remained strong to start the week, with USDA announcing two daily flash sales Monday morning—one to Mexico and another to unknown destinations.

• Soybean futures are trading lower this morning as harvest pressure and lack of Chinese demand continue to weigh on the bean complex. November soybeans are 4-1/2 cents lower at 1009-1/4. March soybeans are also 4-1/2 cents lower at 1044-1/2 currently.
• Brazil’s soybean planting pace is estimated at 4–5% complete, with a dry forecast in northern Brazil and Argentina expected to accelerate progress.
• Argentina reportedly sold roughly 40 cargoes (about 110 mb) of soybeans to China last week, raising expectations that China may be largely covered on its import needs into December.

• Wheat futures are higher at midday leading the grain complex. December Chicago wheat is 1-1/4 cents higher, trading at 521. December KC wheat futures are 3-1/2 cents higher at 509 while December Spring wheat futures are 2 cents higher at 570.
• Rising global wheat supplies remain a bearish factor, with analysts increasing production estimates for Russia, the EU, and Canada, while timely rains could boost Argentine and Australian output by another 2–4 mmt.
• Money managers hold a combined net short of 326,079 contracts across corn, SRW wheat, and soybeans—the largest end-of-September short position in 20 years. This heavy bearish stance underscores ongoing pressure across the grain complex.

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 are softer at midday as harvest activity advances. Continued expectations of record yields are adding pressure to the market. The December corn contract is down 3-4 cents at $4.22 ¼.
• Argentina’s corn planting is 12.3% complete, while Brazil’s crop areas remain mostly dry through next week, with rainfall expected to return in days 11–15.
• U.S. weather is expected to remain favorable for harvest over the next 10 days, with minimal rain and above-normal temperatures in the forecast.
• The French corn harvest has progressed to 14% completion, while overall crop conditions remain unchanged from last week.

• Soybeans are higher at midday, despite news that China secured 40 more cargos from Argentina for November shipment. The ongoing lack of U.S. export activity is fueling concern among traders over near-term demand prospects. November soybeans are trading 3 cents higher at $10.13 ¼.
• Global soybean trade flows are shifting as China ramps up purchases from Argentina. This could reduce supplies available to Argentine crushers later in the season, potentially lowering crush rates and lifting global soybean meal and oil prices, given Argentina’s role as the world’s largest soy product exporter.
• U.S. harvest weather looks ideal over the next week, with dry conditions across the Midwest and Plains and seasonally warm temperatures.
• Weather models for Brazil indicate dry conditions will persist across major crop areas for the next 10 days. However, rainfall is expected to return during the 11–15 day outlook, offering potential relief to early planting efforts.

• Wheat trades lower after yesterday’s rally, as ongoing harvests and abundant global supplies weigh on the market. December’s contract is down 7-6 cents at $5.19 ½.
• While Russian wheat production estimates have generally been trending higher, SovEcon made its first cut to this season’s export outlook. The firm now expects shipments of 43.4 million tons, down slightly from the prior 43.7 million.
• Over the past week, rainfall in central and northern Argentina has supported wheat development, providing much-needed moisture for crop growth.
• The EU raised its total grain output estimate for the coming season to 284.2 MMT, up from 276.9 MMT last 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 prices remain higher at midday, as export sales continue to stay strong. December corn is up 2-00 cents to $4.26-1/4, while the March contract is up 2-00 cents to $4.43-00.
• Weekly export sales for corn came in above trade expectations at 76 mb. Year-to-date commitments now total 1.014 billion bushels, which is up 75% from a year ago.
• US weather looks to be ideal next week for grain harvest as warm dry weather moves back through the corn belt.
• China’s corn production has been raised slightly on improved late season weather. Production in the country is now seen at 299.1 mmt, up less than 1% from the previous estimate.

• Soybeans are firm at midday, supported by strength in soybean oil. November beans are up 3-1/2 cents to $10.12-1/2, while the January contract is up 3-00 cents to $10.31-1/2.
• Weekly export sales for soybeans totaled 27 mb, which was on the lower end of trade expectations. Year-to-date commitments now sit at 404 mb, down 37% from last year.
• Argentina announced that they will start applying the grain export tax again after reaching the sales cap of $7 billion. This comes just days after announcing they would drop the export tax from grain exports.

• All three wheat classes are trading higher at midday following yesterday’s weakness. December Chicago is up 4-1/4 cents to $5.23-3/4, December HRW is up 3-00 cents to $5.09-3/4, and December Minneapolis is up 2-3/4 cents to $5.70-1/2.
• Weekly wheat export sales were on par with expectations at 20 mb. Year-to-date commitments total 501 mb, up 24% from the same week last year.
• IKAR has raised their Russian wheat production number to 87.5 mmt, up from the groups previous forecast of 87 mmt.
• According to multiple reports, Australian wheat production is improving and if it remains strong, it could be the third largest output on record.

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 lower at midday, despite early yield reports coming in slightly below expectations. The market remains under pressure due to the potential for a record-breaking U.S. corn crop. December futures are trading down at $4.23 5/8.
• USDA confirms the sale of 312,956 tons of US corn to Mexico for the 25/26 year.
• Black Sea exporters are reportedly lowering corn prices in an effort to remain competitive with U.S. and South American offers on the global export market.
• Ethanol production for the week ending September 19th totaled 301 million gallons, down from 310 million the previous week. Despite the weekly decline, production remains 3% above the yearly average. An estimated 102 million bushels of corn were used in the production process.

• Soybeans moved higher at midday, gaining positive momentum following a flash export sale announced this morning. The entire soy complex is trading in positive territory. November soybeans are trading up at $10.12 3/8.
• USDA confirms the sale of 101,400 tons of US soybean meal to Guatemala for the 25/26 year.
• U.S. soybeans remain under overall pressure as the lack of progress in trade with China continues to weigh on the market. Traders are particularly focused on reports that China purchased additional soybean cargos from Argentina yesterday.
• The EU’s announcement yesterday to delay the implementation of its anti-deforestation law by one year has added pressure to its soybean meal prices this week, as the move increases the likelihood of stronger demand for U.S. meal exports.

• Wheat is trading mostly higher, with some mixed action across contracts, supported by rising Russian wheat prices. Additional support came after former President Trump urged the UN to tighten financial pressure on Russia by halting purchases of Russian energy. December wheat is posting gains at $5.22 5/8.
• Rising global crop estimates in recent weeks have added pressure to the wheat market. Notable increases are being reported in key producing regions, including Russia, Canada, Argentina, and Australia.
• Wheat demand is also providing support to the market, with Algeria purchasing 600,000 tons of milling wheat, Jordan buying 60,000 tons, and South Korea securing 50,000 tons. Additional tenders from Bangladesh and Syria are also adding to the demand outlook.
• Ukraine winter wheat sowing is 14% complete.

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 higher at midday, supported by export sales and ratings slipping. December corn is up 2-1/4 cents to $4.24-00, with March futures 2-1/4 cents higher to $4.41-00.
• Monday’s Crop Progress report showed corn ratings falling 1 point from last week to 66% good-to-excellent but remaining 1 point ahead of last year. Harvest was seen improving 4% from last week to 11% complete. This compares to 13% harvested through the same week last year.
• The USDA announced another sale of US corn to Mexico this morning, this time for 122,947 tons. This has led to some additional support in corn prices.

• Soybeans are rebounding slightly at midday after starting off the morning weaker. Both the November and January futures contracts are a penny higher to $10.12-00 and $10.31-3/4 respectively.
• Yesterday’s Crop Progress report showed soybean ratings falling 2 points to 61% good-to-excellent. Harvest advanced to 9% complete, up from 5% last week but down from 12% through the same week last year.
• According to AgRural, Brazil’s 2025/26 soy sowing is just 0.9% complete in the center-south region. This is up from 0.1% last week but is on par with last year’s pace.

• Wheat prices are getting a boost at midday, supported by slow planting progress in Ukraine and strong export inspections in yesterday’s inspections report. December Chicago futures are up 8-1/4 cents to $5.19-00.
• Spring wheat harvest is reported at 96% complete, up from 94% last week and 95% a year ago. Winter wheat planting now stands at 20% done, up from 11% planted last week.
• According to Ukraine’s agriculture ministry, wheat exports are down 28% year-over-year to just 4mmt.

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 lower to start the week, following large losses in the soybean complex. December corn futures are 4 cents lower trading at $4.20 currently, March corn futures are also 4 cents lower trading at $4.37-1/4.
• USDA confirmed a 12.6 mb corn sale to Mexico for 2025/26 delivery this morning, marking the third consecutive day of announced export sales.
• The Ohio River Valley is forecast to receive moisture over the next week, while the northern Corn Belt turns drier. Above-normal Midwest temperatures into mid-October should aid crop dry down and support harvest progress.

• Soybean futures are sharply lower to start the week after lack of progress on U.S./China trade relations late last week. November soybeans are 15 cents lower trading near $10.10 while March soybeans are 14-3/4 cents lower trading near $10.46.
• Brazil has begun soybean planting, roughly in line with last year’s pace. Industry estimates place the crop between 175–180 mmt, which would mark a new record high.
• China imported a record 10.5 mmt of Brazilian soybeans in August, marking the first time in history monthly imports from Brazil to China have topped 10 mmt for four consecutive months.

• December Chicago wheat futures are down 13 cents to start the week near $5.09 currently. December KC wheat futures are 8 cents lower trading near $5 while December Spring wheat futures are down 2-1/2 cents trading near $5.65.
• Winter wheat planting in the U.S. will likely approach 20% plus completion in Monday’s Crop Progress update.
• KC wheat futures are trading back near the $5 level this morning, going back to May this area has provided support.

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 higher at midday, supported by positive export sales and a morning flash sale. December corn is up at $4.25 ½, while March futures are gaining as well, trading at $4.42 ¼.
• Weekly U.S. corn exports remain strong but are slipping from the elevated levels seen earlier this summer, as South American competition intensifies and the U.S. is no longer the lowest-cost origin.
• USDA confirms the sale of 206,460 tons of U.S. corn for delivery to unknown destinations for the 25/26 year.
• The International Grains Council has lowered its global corn production estimate by 2 million tons, to 1.297 billion tons, due to downward revisions to the EU corn crop.

• Soybeans are slipping in midday trade as news from today’s phone call between President Trump and China’s President Xi offers little optimism for an imminent trade deal. Soybeans and soybean oil are down, while soybean meal is seeing modest gains. November soybean futures are up $10.33 ¼.
• CONAB has raised its estimate for Brazil’s 2024/25 soybean production to 177.67 million tons, up from 171.47 million tons previously. New crop soybean exports are now projected at 112 million tons, an increase from 106 million tons in the prior season.
• Wet season rains are forecast across Brazil over the next week, which should help improve the currently dry planting conditions.
• The latest U.S. Drought Monitor, released yesterday, showed expanding drought conditions from Missouri eastward through Ohio. However, forecasted rains next week are expected to bring some relief to parts of the region.

• Wheat is trading lower at midday as growing global supplies pressure prices, with crop estimates rising this week in Western Australia, Russia, and the EU. December wheat futures are down a few cents, currently at $5.22 ½.
• The International Grains Council raised its global wheat production estimate by 8 million tons.
• U.S. winter wheat area affected by drought increased 6% last week to 44%, compared to 58% at the same time last year, while drought conditions in HRS wheat remained steady at 13%.
• Argentina’s wheat conditions declined 2% last week to 85% rated good to excellent, remaining well above last year’s level of 35% at this time.

Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.

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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.