Corn prices are mixed at midday with September and December futures slightly higher. Lack of weather threats and increasing global yields continue to keep upside potential limited.
Weekly corn export sales came in at 88 mb, which were towards the upper end of trade estimates. Year-to-date commitments now total 2.774 billion bushels, which is up from 2.173 billion bushels last year.
Datagro has raised their corn production forecast in Brazil to 140.9 mmt. This is well above the USDA’s estimate of 132 mmt.
Soybeans remain pressured at midday as bearish weather continues to put a negative tone on prices with larger yields looming.
Weekly soybean export sales totaled 29 mb, which were on the high end of trade expectations. Year-to-date commitments now total 1.878 billion bushels, up from 1.668 billion bushels through the same week last year.
Datagro raised their soybean production estimate in Brazil to 182.9 mmt, which if realized would be 9.4 mmt more than the previous growing season.
The wheat market is mostly lower at midday, pressured by an increasing US dollar and improved global production estimates.
Weekly wheat export sales were on par with trade expectations at 23 mb. Year-to-date commitments sit at 351 mb, which is up from 305 mb last year.
Sovecon raised their Russian wheat output estimate to 83.6 mmt, up from the groups previous estimate of 82.9 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 markets are trading higher heading into midday, with U.S. weather remaining the primary bearish influence. With little fresh news to support a rally, the market continues to react mainly to weather developments.
The latest round of trade talks with China yielded no major breakthroughs, while key agreements with Canada, Mexico, South Korea, and India remain unsigned.
Ukraine’s agricultural union is projecting a 2-million-ton decline in corn production this harvest, citing poor weather conditions and locust infestations as key factors.
Ethanol production rose to 322 million gallons last week, up from 317 million the week prior, though still down 1% year over year. The industry used 109 million bushels of corn — an average of 15.6 million bushels per day — exceeding the 15.23 million daily pace needed to meet the USDA’s annual forecast of 5.5 billion bushels.
Soybeans turned lower at midday as U.S.-China trade talks concluded without tangible progress. The entire soy complex is trading lower in response.
President Trump is expected to make further calls regarding the tariff truce, despite Chinese officials stating that an extension had already been agreed upon. Traders remain concerned that prolonged negotiations could shorten — or even eliminate — China’s typical fall buying window for U.S. soybeans.
India purchased 150,000 tons of soybean oil from China after China discounted the sale due to an oversupply of both soybean oil and meal.
Rain is expected to move across eastern Nebraska into Iowa today, followed by a cold front. However, heat is forecast to rebuild during the second week of the outlook. These weather shifts may attract renewed market attention.
Wheat futures turned mixed at midday, remaining under pressure from a weak technical outlook and ongoing demand concerns.
Recent trade agreements have largely overlooked the U.S. wheat market, and high U.S. ending stocks will be challenging to reduce without an increase in demand.
Overnight, Bangladesh initiated a purchase of 220,000 tons of U.S. wheat as a goodwill gesture linked to ongoing trade negotiations.
Since July 1, Ukraine’s wheat exports have declined 66% year over year. Meanwhile, Cargill projects Australia’s wheat crop could reach 33 million tons, surpassing the government’s estimate of 30.6 million tons.
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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 prices struggle at midday, pressured by beneficial rainfall over night in South Dakota, Minnesota, and Iowa. December corn futures could look to retest the contract low of $4.0750 with limited upside potential for the foreseeable future.
Monday’s Crop Progress report showed corn ratings falling 1 point from last week to 73% good-to-excellent. This compares to 68% good-to-excellent the same week last year.
AgRural estimates that Brazil’s corn harvest is now at 68% complete, which is well below last year’s pace of 91% done at this time.
Soybeans remain lower at midday, pressured by crop ratings improving and lack of news regarding US/China trade talks .
Yesterday’s Crop Progress report showed soybean ratings improve 2 points to 70% good-to excellent. This is above last year’s 67% good-to-excellent rating for the same week.
China is facing a surplus of soybean meal which has led to concerns over demand from the world’s largest buyer. China has not yet purchased any Q4 cargoes which is concerning given that is the heaviest marketing timeframe for the US.
All three wheat classes are weaker at midday on pressure from global harvest and a rising dollar which just hit a one month.
Spring wheat conditions fell 3 points to 49% good-to-excellent. Winter wheat harvest is pegged at 80% done which is just behind the 5-year average for the same week at 81% complete.
Conab estimates that 96.9% of Brazil’s wheat crop has been planted as of July 19 which is on pace with last year and the 5-year average.
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 under pressure to start the week as upcoming cooler temperatures across the Corn Belt are seen as beneficial for crop development.
On Monday morning, the USDA reported private export sales of 229,000 metric tons (MT) of corn to undisclosed destinations. This includes 35,000 MT for delivery in the 2024-25 marketing year and 194,000 MT for the 2025-26 marketing year. Additionally, 225,000 MT of corn was sold to Mexico for delivery in the 2025-26 marketing year.
The U.S. and EU reached a weekend trade deal reducing import tariffs to 15%, though specific details on agricultural commodity commitments remain unclear.
Soybean futures are under pressure again to start the week, as forecasts for cooler weather and adequate soil moisture are seen as favorable for crop development.
Argentina officially lowered export taxes over the weekend, increasing competition for U.S. soy and soy product exports. Soybean export taxes dropped from 33% to 26%, while taxes on soymeal and soyoil fell to 24.5% from 31%.
Traders are watching closely as U.S. and Chinese trade officials meet Monday and Tuesday in Sweden, with hopes that the talks will yield positive developments.
Wheat futures are slightly lower to start the week
The U.S. Dollar index is higher to start the week after it was announced over the weekend that the EU and U.S. had reached a trade deal.
While overall spring wheat ratings lag last year due to drought in the Pacific Northwest, production in North Dakota — and especially Minnesota — looks strong. The Wheat Quality Council tour pegged average yield about 4.5 bushels per acre above the 5-year average.
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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 prices continue to trend lower at midday, with weather remaining the key limiting factor hindering any significant upside momentum this week.
The percentage of U.S. corn under drought remains unchanged at 9%, up from 4% at this time last year. However, conditions are showing signs of improvement in Nebraska, which continues to experience the most severe drought impacts.
There are reports of ‘spotty pollination problems’ emerging in some areas, though the full extent of the issue likely won’t be known until harvest.
Argentina’s harvest is nearing the finish line at 84% complete.
Soybeans continue to post losses at midday, setting a new weekly low this morning after breaking below key support levels. Bearish weather sentiment is overshadowing optimism surrounding next week’s trade talks with China. The entire soy complex is trading lower at midday.
U.S. soybeans under drought remain minimal, ticking up 1% last week to 8%, compared to just 4% at this time last year. Dry conditions are gradually improving for soybeans in Nebraska as well.
Beneficial rainfall over the past 24 hours has been reported in the Texas Panhandle, central Kansas, and northern Missouri, while the rest of the Crop Belt remains dry. Hot temperatures are expected across these regions over the coming week, followed by a potential cooldown.
New crop soybean sales remain limited, with China notably absent from the market. However, traders remain hopeful that a trade agreement between the U.S. and China will be reached.
Wheat is trading lower at midday, pressured by favorable weather conditions and the USDA’s yield estimate holding steady at 59 bushels per acre — well above the five-year average of 44.5 bpa.
Winter wheat under drought conditions increased by 1% to 31%, compared to 24% at this time last year. Spring wheat drought coverage rose 7%, though expected rainfall this coming week should provide some relief.
Argentina’s wheat seeding is nearly complete, reaching 96%, with crop conditions improving by 1% this week to 50% rated good to excellent, up from 38% last year. Meanwhile, the French soft red winter (SRW) wheat harvest is now 86% complete — well ahead of last year’s 37% — with conditions remaining steady this week
EU SRW production was lowered to 127.3 mt from 128.2.
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 higher at midday, supported by news of Japan and US trade deal which is estimated to include $8 billion of US agricultural purchases by Japan.
Weekly corn export sales came in at 54 mb, which were in line with expectations. Year-to-date commitments total 2.760 billion bushels, up 27% from a year earlier.
The USDA reported that a previous sale of 135,000 mt of US corn to China was confirmed to be incorrect.
Weather remains friendly across the Corn Belt with additional precipitation chances in the 8-14 day forecast over the western belt.
Soybeans remain slightly higher at midday as prices are finding technical support along with optimism of trade deals boosting demand.
Weekly export sales for soybeans totaled 15 mb, which was on the low end of trade expectations. Year-to-date commitments sit at 1.867 billion bushels, which is up 13% from last year.
A Chinese buyer has reportedly signed a deal this week with Argentina to purchase 30,000 mt of soybean meal and animal feed. The buyer noted lower prices as the main reason for the agreement.
China is urging hog producers to manage their capacity levels to prevent falling prices. The Minister of Agriculture is also telling producers to find ways to reduce the amount of soybean meal in feed rations.
Wheat prices have pulled back at midday, pressured by harvest and the ongoing wheat tour which is expected to release final results later today.
Weekly wheat export sales were above expectations at 26 mb. Year-to-date commitments total 329 mb, up 12% from a year ago.
Argentina’s wheat production is seen increasing 1% to 20.2 mmt on improved soil moisture conditions.
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 traded lower at midday, with pressure from the upcoming weather forecast outweighing support from recently announced trade deals.
Corn traders remain uncertain about the potential impact of the overnight trade deal with Japan, given that Japan is already a major buyer of U.S. corn, leaving questions about how much additional demand the agreement will generate.
The South Korean trade team is scheduled to visit the U.S. this coming Friday. Recently, South Korea has been purchasing corn from South America, but a newly signed deal could potentially shift their corn purchases back to the U.S.
Corn conditions continue to indicate potential for record yields, with forecasts suggesting yields in the 180s bpa remain possible, depending on August and September weather.
Ethanol production for the week ending July 18th was slightly decreased to 1,078 thousand barrels per day from 1,087 the previous week and also marking a 1.6% decline YOY. The daily corn usage reached 15.37 million bushels in this production process.
Soybeans are trading higher at midday as traders continue to digest the details of several trade deals announced late yesterday and overnight, which have fueled hopes for rising demand. Soybeans and soybean oil are posting gains while soybean meal trades mixed.
The deal struck yesterday between the White House and the Philippines is expected to boost U.S. soy exports to the country, offering some support to today’s market.
The soybean crop is expected to benefit from favorable rainfall across much of the Midwest over the next two weeks, except in the Great Lakes states, where below-normal precipitation is forecast.
Soybeans continue to face some pressure as crop condition ratings remain strong, with 68% rated good to excellent—the highest since 2020. Last week’s 2% decline was largely due to Kansas and North Dakota, though both regions have since received beneficial rainfall.
Wheat prices turned lower by midday Wednesday, showing little to no reaction to the newly announced trade deals.
The Wheat Quality Council completed the first day of their spring wheat tour, surveying 171 fields from Fargo to Bismarck, North Dakota, with an average yield of 49.8 bpa.
“Russia’s Agriculture Minister revised the country’s wheat production forecast to 88–90 million metric tons, down slightly from the earlier estimate of 90 million. Wheat export projections were also lowered to 43–44 million tons, compared to the previous forecast of 45 million.
According to analyst Argus, the French wheat crop is projected at 33.4 mmt, a 30% increase compared to last year.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures remain lower at midday, pressured by friendly weather forecasts and crop conditions sitting at 9-year highs.
Monday’s Crop Progress report showed corn ratings unchanged from last week at 74% good-to-excellent, and up from 67% last year.
AgRural has increased their corn production estimate in Brazil to 136.3 mmt, up from their previous estimate in June of 130.6 mmt. Harvest advanced to 55% complete, up from 40% last week.
Soybeans continue to see some weakness at midday as recent rainfall is keeping pressure on prices. January soybeans are trading just above the 100 and 200-day moving averages.
Yesterday’s Crop Progress report showed soybean conditions dropping 2 points from the week prior to 68% good-to-excellent. This is on par with ratings during the same week last year.
Limited fresh news on the soy side and more precipitation slated for this week across much of the Midwest may keep downside pressure on prices.
Wheat prices have reversed higher at midday, supported by a drop in crop ratings and increasing concerns over a damaged crop.
Spring wheat ratings dropped 2 points from last week to 52% good-to-excellent and still remains well below last years rating of 77%. Winter wheat harvest jumped 10% to 73% complete this week but remains slightly behind last year’s pace of 75% done at this time.
IKAR has lowered Russia’s wheat output slightly to 83.5 mmt citing poor yields in the southern region as a reason for the cut.
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 remain under pressure at midday, as market participants await the USDA’s Crop Progress report, set to be released later this afternoon.
Weather remains a key focus for traders, with varying precipitation patterns across parts of the Corn Belt and the 15-day forecast indicating above-average temperatures for much of the region.
The Mato Grosso Institute of Agricultural Economics in Brazil reports that the corn harvest in the state has surpassed 77%, advancing by 20 percentage points over the past week.
Corn export inspections fell below expectations last week, dropping to their lowest level since January.
Soybean markets show mixed trading at midday, influenced by a 15-day forecast predicting variable precipitation and above-average temperatures across key soybean-growing regions.
Soybeans and soybean meal are trading mixed, while soybean oil is posting losses.
Traders remain concerned about demand for new-crop soybean sales as the market enters a typically active period for booking export sales—particularly if China continues to stay on the sidelines.
China’s June soybean imports from Brazil were up 9% year-on-year.
President Trump continues to push for an in-person meeting with China’s leader this fall, while also facing ongoing trade tensions with Brazil, the EU, and several other countries ahead of the August 1st deadline.
The wheat complex turned lower at midday as traders await this afternoon’s USDA Crop Progress report, which will provide updates on both winter and spring wheat conditions.
The market received a modest boost this morning following reports that Bangladesh has signed an agreement to purchase 700,000 tons of U.S. wheat annually, as trade negotiations with the country continue. Bangladesh has traditionally sourced much of its wheat from Russia and Ukraine.
Last week’s market rally was partly driven by a slow start to the Russian wheat harvest, with early yield reports coming in lower than those observed in 2024.
Scattered weekend rains fell across parts of Montana, North Dakota, and Minnesota, with additional precipitation expected this week—crucial as above-average heat is forecasted to follow.
Weekly wheat inspections surged well above expectations, reaching the highest level since 2008.
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 markets trade mixed at midday, recovering from yesterday’s losses and gaining some momentum alongside strength in the soybean and wheat markets.
Weather remains generally favorable across key U.S. corn-producing regions, with rain in the forecast and warmer temperatures supporting crop development. While some areas continue to face drought, coverage has declined to just 9% of the U.S. corn crop.
“French corn conditions declined by 3% last week, while Argentina’s corn harvest is progressing into its final stages, now 79% complete.
U.S. corn is rated 74% good to excellent, and the crop remains on track to potentially achieve record yields this harvest.
Soybeans continue to trade higher at midday, supported by forecasts calling for hotter temperatures and limited rainfall in the week ahead. The entire soy complex is posting gains at midday.
The U.S. Secretary of Commerce suggested this week that trade talks with China are gradually progressing, fueling optimism for an in-person meeting between President Trump and President Xi later this summer or in early fall. This renewed trade optimism is adding support to the soybean rally.
The percentage of U.S. soybean acres under drought conditions fell by 2 points to 7%, though that’s still above the 5% reported at this time last year. However, with the hot and dry weather forecast, that number is expected to rise.
Wheat is trading mixed at midday, with momentum shifting amid global tensions and evolving weather conditions.
The percentage of U.S. winter wheat under drought conditions has risen by 5 points to 30%, compared to 24% at this time last year. Drought coverage for hard red spring wheat also increased, up 1 point to 36%.
Expanding harvests in the U.S., the Black Sea region, and the EU have weighed on global wheat prices, as new crop supplies continue to flow into the market. In France, the wheat harvest is now 71% 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.
