Midday

We are excited to offer you a new way to follow the markets! While CME Group policy changes mean our daily updates will no longer show pricing data, you can now explore our interactive quote board, featuring up-to-date charts to help you track market trends.

Grain Market Insider Interactive Quote Board

• Corn futures remain weaker at midday on pressure from growing production estimates in the US and South America.
• Weekly corn exports totaled 77 mb, which were on par with expectations. Year-to-date commitments now sit at 2.777 billion bushels, up 26% from last year.
• Conab has raised their total corn production estimate for Brazil to 137 mmt, up from the groups previous forecast of 131.97 mmt. The group also raised Brazil’s export forecast by 4 mmt to 40 mmt due to increased supplies.

• Soybean prices are drifting lower at midday, pressured by lack of US export engagement from China despite US products being cheaper than South America.
• Weekly export sales for soybeans came in at the low end of expectations at 28 mb. Year-to-date commitments total 1.878 billion bushels, which is up 11.5% from the previous year.
• Conab raised Brazil’s soybean production estimate slightly to 169.65 mmt, but was below the average guess of 170.5 mmt.

• All three wheat classes are trending lower at midday as the bear camp holds the reigns. Large ending stocks in the US and a potential agreement between the US and Russia tomorrow are keeping pressure on wheat prices.
• Weekly wheat exports remain strong, beating expectations at 27 mb. Year-to-date commitments total 404 mb, up 24% from last year and remain at a five-year high.
• Conab left their wheat production estimate for Brazil unchanged from last month at 7.81 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. 

We are excited to offer you a new way to follow the markets! While CME Group policy changes mean our daily updates will no longer show pricing data, you can now explore our interactive quote board, featuring up-to-date charts to help you track market trends.

Grain Market Insider Interactive Quote Board

• Corn is trading higher at midday as traders digest yesterday’s USDA report, which revealed a record-large acreage increase in the August update along with a significant boost to yield estimates.
• Markets remain concerned about whether U.S. export demand for corn can grow enough to offset the impact of a record crop.
• U.S. crop tours assessing the current corn crop are set to begin next week and are expected to provide either confirmation or contradiction of the USDA’s yield and acreage estimates.
• Ethanol production rebounded to 321 million gallons last week, up from 318 million the previous week and 2% higher year over year. The production process used 109 million bushels of corn, averaging 15.56 million bushels per day — well above the 14.9 million bushels per day needed to meet the USDA’s revised annual forecast of 5.472 billion bushels.

• Soybeans continue to gain at midday, supported by yesterday’s bullish USDA data. Both soybeans and soybean meal are trading higher, while soybean oil is moving lower at midday.
• Soybean futures saw their highest daily trading volume since early April during yesterday’s session.
• Traders remain cautious despite the current soybean crop being in excellent condition, acknowledging that there’s still time for weather or other factors to impact yields before harvest is complete.
• While the USDA did trim new crop export projections, forecasting demand remains challenging without a signed trade agreement with China.
• ANEC raised their Brazil bean export forecast for August to 8.8 million tons, up from 8.15 estimated last week.

• Wheat is trading mixed at midday as traders digest yesterday’s USDA report, which offered no major surprises for the wheat markets.
• SovEcon raised their Russian wheat production estimate to 85.2 million tons, up from 83.6 on a larger planted area.
• Ukraine’s exports since July 1st remain slow, totaling 1.42 million tons — down significantly from 2.61 million tons during the same period last year.
• EU SRW exports through August 10 are down 56% year over year due to weaker demand and Black Sea competition.

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 continue to struggle at midday as market participants await the release of the WASDE report which is expected to be bearish for prices.
• Estimates for today’s report see corn yield at 184.3 bpa, up from 181 bpa last month. Both US and world ending stocks are also seen rising in today’s report.
• Brazil’s winter corn harvest advanced 7% from last week to 88% complete according to AgRural. This compares to 97% done for the same week last year.
• Monday’s Crop Progress report showed corn ratings slipping 1 point from last week to 72% good-to-excellent. Ratings are still up 5% from the same week last year.

• Soybeans are weaker at midday, pressured by the highly anticipated WASDE report today.
• Estimates for today’s WASDE report see soybean yields up slightly to 53 bpa compared to 52.5 bpa in last months report. Both US and world ending stocks are expected to increase as well which could add some additional downside pressure on prices.
• President Trump announced a 90-day extension on tariffs for Chinese imports now through November 10.
• Yesterday’s Crop Progress report showed soybean ratings dropping 1 point from last week to 68% good-to-excellent but is on par with ratings from a year earlier.

• All three wheat classes are lower at midday along with the rest of the grain market despite estimates for lower production and ending stocks.
• Yesterday’s Crop Progress report showed spring wheat ratings improving 1 point to 49% good-to-excellent but remain well below last year’s rating of 72% good-to-excellent. Spring wheat harvest advanced to 16% complete which is on par with last year’s harvest pace.
• Winter wheat harvest climbed to 90% done, slightly behind last year’s pace of 92% done and the 5-year average through the same week of 91%.
• President Trump is expected to meet with Russia’s Putin later this week in Alaska to discuss ending the war between Russia and Ukraine.

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 markets are trading higher at midday as traders position ahead of tomorrow’s USDA Supply and Demand Report, with export expectations coming in above trade estimates.
• Yield expectations for tomorrow’s report are projected at 184.3 bushels per acre, up from 181.0 last month. New crop ending stocks are estimated at 1.902 billion bushels, an increase from 1.660 billion in July.
• Brazil’s corn harvest is nearing 80% completion, slightly behind last year’s pace of 90% at this time.
• APK raised Ukraine’s production up to 27.5 million tons from 24.9 previously.

• Soybeans continue to trade higher at midday, supported by headlines that President Trump is urging China to quadruple their soybean imports from the U.S. ahead of tomorrow’s tariff deadline. Adding to the momentum, soybean export sales came in above all trade estimates, lifting the entire soy complex.
• Tomorrow’s USDA Supply and Demand Report is expected to show soybean yields at 52.9 bushels per acre, up from 52.5 in July. Global ending stocks are projected to increase by just over 1 million metric tons compared to last month.
• The typical peak buying period for U.S. soybeans by China runs from October through January. With this window rapidly approaching and no trade deal yet in place, traders are expressing concern about potential market impacts.
• Weekend rains fell across Kansas, Iowa, and Wisconsin, providing beneficial moisture for soybean crop development, while the rest of the Midwest remained dry.

• Wheat continues to follow strength in corn and soybeans, trading mixed at midday as buyers position ahead of tomorrow’s USDA Supply and Demand Report, with export expectations coming in on the lower end of trade estimates.
• U.S. wheat ending stocks are expected at 882 million bushels, down from 890 million in July, while all winter wheat production is forecast at 1.920 billion bushels, slightly lower than last month’s 1.929 billion.
• President Trump and Putin are expected to meet in Alaska in the coming days to discuss next steps.
• Chicago wheat open interest declined by just over 9,600 contracts on Friday, following significant gains over the past two weeks.

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 remain higher at midday, supported by yesterday’s robust export sales report and further bolstered by news of an additional U.S. corn sale announced this morning. Export demand continues to provide support in the corn market.
• USDA confirms the sale of 125,000 tons of U.S. corn for delivery to unknown destinations for 25/26.
• Last week’s U.S. corn export sales were the third highest on record for a single week, with top buyers including Unknown destinations, Mexico, Colombia, and South Korea. Additionally, new crop export commitments are nearly double the pace seen at this time last year, reflecting strong forward demand.
• Despite strong export demand, traders are beginning to express concern that favorable crop conditions could lead to a larger corn supply than the market can absorb. Attention now turns to next week’s USDA report for updated balance sheet projections and potential market direction.

• Soybeans are trading mixed at midday despite yesterday’s strong export sales report. Continued uncertainty surrounding China’s participation in the market is weighing on prices. Both soybeans and soybean oil are trading lower, while soybean meal is moving higher.
• Upside potential in the soybean market is expected to remain limited in the near term, pending any significant progress on trade relations with China. Market participants are closely watching for news of an in-person meeting to address tariffs and broader trade issues.
• U.S. soybeans are currently the cheapest on the global market, attracting strong demand—particularly from non-Chinese buyers who were notably active last week.
• Only 3% of the U.S. soybean crop is currently experiencing drought conditions, down from 5% at this time last year. This is near historically low levels and supports overall healthy crop development.

• Wheat prices are trading lower at midday as a robust harvest and continued favorable weather conditions limit the potential for a strong market rally. These factors are weighing on upside momentum despite supportive export sales.
• U.S. winter wheat under drought remains steady at 30%, a notable improvement from 40% at this time last year. Spring wheat drought coverage has decreased 3% to 35%, though that remains elevated compared to just 18% a year ago.
• Black Sea wheat prices are steady to higher as concerns rise that a significant portion of Russia’s wheat crop may be downgraded to feed quality. This comes despite IKAR’s overnight revision increasing Russian production estimate.
• The French wheat harvest is now 94% complete, with the crop expected to be up 17% compared to last year’s drought-reduced output. This improved outlook is providing additional supply support to the European wheat 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. 

All prices as of 10:30 am Central Time

• Corn prices edge higher at midday, supported by strong export sales and buyers coming back in after the break below $4.00 yesterday on December futures.
• Weekly export sales for corn came in above trade expectations at 131 mb. Year-to-date commitments total 2.780 billion bushels, which is up 27% from a year ago.
• Weekly ethanol production fell to 318 million gallons last week, down from 322 the week prior but up 1% year-over-year. Ethanol stocks dipped to 23.8 million barrels, which was below expectations.

• Soybean futures are firm at midday, supported by export sales and short covering ahead of next week’s WASDE report.
• Weekly export sales for soybeans remain strong, totaling 37 mb during the week. Year-to-date commitments now sit at 1.892 billion bushels, up 13% from last year.
• According to the Ministry of Development, Industry and Trade, Brazil’s soybean exports increased to 12.3 mmt last month, up 9% from the same month last year. Brazil’s soybean exports to China also rose to 9.6 mt in July, up 7.4% from last year.
• Patria has lowered their soybean production estimate in Brazil for the 2025/26 season to 166.56 mmt, down from this season’s estimate of 168.74 mmt.

• All three wheat classes are trending higher at midday, supported by lower production and ending stocks estimates for Tuesday’s WASDE report.
• Weekly wheat export sales totaled 27 mb, which was above trade expectations. Year-to-date commitments are up 21% from a year ago and currently sit at a 5-year high of 378 mb.
• There is reportedly an upcoming meeting set up between President Trump and Russia’s Putin to discuss ending the war between Russia and Ukraine.

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 lower at midday as yield estimates continue to pressure the market, with projections coming in well above the USDA’s current figure. Favorable weather conditions are further supporting expectations for increased yields.
• S&P Global was the latest to release its yield estimate yesterday, projecting 186 bpa. StoneX came in even higher at 188.1, while other private estimates range between 185 and 187 — all well above the USDA’s current projection of 181.
• June Census trade data showed corn exports totaling 266 million bushels, up 26% year over year. Top export destinations included Mexico, Japan, South Korea, Colombia, and Taiwan.
• Weekly ethanol production declined to 318 million gallons, down from 322 million the previous week, though still 1% higher year over year. The production used 108 million bushels of corn, averaging 15.4 million bushels per day—below the 16.1 million needed to stay on pace with the USDA’s annual forecast of 5.467 billion bushels.

• Soybeans remain under pressure at midday amid ongoing trade concerns, with overall market sentiment staying mixed. Without supportive, bullish news on the trade front, any rallies in soybeans are expected to remain limited. Currently, soybean oil is posting gains, while soybeans and soybean meal are experiencing losses.
• Trade with China remains at the forefront of market attention as the typical buying window for U.S. soybeans approaches. Concerns are growing over the outlook for a potential trade deal, especially after China purchased another cargo of soybean meal from Argentina yesterday.
• Chinese crushers sold over 2 million metric tons of soybean meal to local feed mills yesterday—the largest single-day sales volume of the year—following total sales of just 850,000 tons for all of last week.
• Census data shows U.S. soybean exports for June reached 55 million bushels, up 6.6% year over year. Top export destinations included Mexico, Egypt, Germany, and Japan.
• Trade negotiations with Brazil have stalled, and the U.S. is preparing to impose punitive tariffs on Brazilian goods. Meanwhile, Brazil’s president appears emboldened to push back against President Trump, as China has increased its purchases from Brazil.

• Wheat trade remains mixed and continues to struggle for footing, slipping further into new contract lows, alongside rising open interest.
• Census data shows U.S. wheat exports for June totaled 63 million bushels, up 13% year over year. Top destinations included the Philippines, Mexico, Nigeria, and Japan.
• LSEG reports that improved satellite imagery indicates Russian wheat production could reach 84 million tons, a 1% increase from their previous estimate.
• Weather conditions are enabling harvest progress in the Black Sea region. However, in the U.S., hard red spring (HRS) wheat harvest in North Dakota is expected to face some delays this 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 are weaker at midday as increasing yield estimates and favorable weather across the Corn Belt continue to add to the bearish projection in prices.
• Monday’s Crop Progress report showed corn ratings unchanged from last week at 73% good-to-excellent but remain 6 points better than last year.
• AgRural pegs Brazil’s winter corn harvest at 81% complete, up from 68% done last week but down from 95% complete the same week last year.
• According to a survey conducted by StoneX, the group sees corn yield at 188.1 bpa, which is well above the USDA’s 181 bpa estimate.

• Soybeans now lean lower at midday as prices get pressured from weakness in the rest of the grain market.
• Yesterday’s Crop Progress report saw soybean ratings falling 1 point from last week to 69% good-to-excellent, but is still up 1 point from the same week last year.
• Celeres has raised their new crop soybean production estimate for Brazil to 177.2 mmt. If realized, this would be up 4.4 mmt from the current season.

• Minneapolis wheat futures are the strong leg of the wheat complex at midday while KC and Chicago wheat prices are lower. Global wheat harvest is keeping sellers active, pressuring prices.
• Spring wheat ratings slipped 1 point from the week prior to 48% good-to-excellent and remain well below last year’s rating of 74% good-to-excellent through the same week. Harvest sits at just 5% compared to 9% through the same week last year.
• The US dollar is falling at midday after hitting a multi-month high late last week, which could help to keep some level of 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. 

All prices as of 10:30 am Central Time

• Corn futures are trading near steady Monday morning, still hovering close to recent lows.
• Several private analysts are projecting the 2025 U.S. corn crop above 16 billion bushels, with national yields at or above 185 bu/acre. The record national average yield remains 179.3 bu/acre set in 2024.
• U.S. corn export prices out of the Gulf are roughly $10/mt cheaper than Brazilian offers for August and September shipments.

• After a tough week, soybean futures are starting the first full week of August with a modest rebound.
• Soybean oil futures have been under pressure lately following last week’s OPEC+ decision to raise oil production again, weighing on energy-linked commodities.
• Friday’s Census Crush report showed a June soybean grind of 197 million bushels—slightly above expectations but down from May’s 204 million. End-of-June soybean oil stocks came in at 1.893 billion pounds, well above the trade estimate of 1.67 billion.

• Wheat futures are trading near unchanged to start the week.
• SovEcon lowered the Russian wheat production estimate by 300,000 mt to 83.3 mmt and cut Ukraine’s production by 2.8 mmt to 19.8 mmt, citing disappointing yields in southern growing regions.
• Trade negotiations with countries like India and Brazil are still ongoing behind the scenes, but the broader tariff landscape remains a bearish overhang for grain markets.

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 traded lower at midday, despite multiple flash sales reported yesterday and additional sales today, signaling improving demand for U.S. corn.
• USDA confirms the sale of 125,000 ton and 227,160 ton of U.S. Corn for export to unknown destinations for the 25/26 year.
• Argentina’s corn harvest is 88% complete, and its recently reduced export tax is now in effect.
• The percentage of U.S. corn under drought has declined by 2% with recent weather improvements, now at 7% compared to 5% at this time last year.

• Soybeans moved higher at midday despite ongoing pressure from demand concerns, weather, and tariff uncertainty. Both soybeans and soybean meal posted gains, while soybean oil continued to trade lower.
• President Trump announced new tariff rates of 25% on India and 35% on Canada as negotiations with both countries stall. He has yet to confirm whether the tariff truce with China will be extended.
• China purchased a third cargo of Argentine soybean meal yesterday, totaling 30,000 metric tons for September/October shipment.

• Wheat traded lower at midday on concerns over sluggish global demand, with export pace from Russia, Ukraine, and the EU remaining seasonally slow.
• HRS wheat under drought dropped 5% to 38%, though it remains significantly higher than the 16% reported at this time last year.
• In Argentina, planting is nearly complete at 98.3%, and recent rainfall has improved crop conditions by 10 points, with 61% now rated good to excellent—up from just 31% at this time last year.
• SovEcon lowered its Ukrainian wheat production forecast by 2.8 million tons to 19.8 million, citing disappointing yields.

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

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