Corn prices are weaker at midday, as US weather remains favorable for US crops in the short term. December corn futures were looking to add a fourth straight day of higher trading before today’s weakness, a feat which has not been done since the week of June 2nd.
Weekly corn export sales totaled 26 mb, which was below trade expectations. Year-to-date commitments now sit at 2.735 billion bushels, up 27% from last year.
President Trump announced that Coca-Cola has agreed to use cane sugar instead of corn syrup moving forward. This has raised some concerns about corn usage moving forward.
LSEG has raised Brazil’s corn production forecast to 131.2 mmt, up 1% from the group’s previous estimate.
Soybeans are finding support at midday on drier weather forecasts for the month of August. The high so far on November soybeans is right at the 50-day moving average of $10.2725.
Weekly export sales for soybeans were on par with trade guesses at 30 mb. Year-to-date commitments total 1.861 billion bushels, which is 12% ahead of last year.
The Rosario Grain Exchange has raised their soybean production estimate for Argentina by 1 mmt to 49.5 mmt.
All three wheat classes are trading lower at midday on pressure from harvest and improvements to production estimates.
Weekly wheat export sales came in at 18 mb, which was in line with expectations. Year-to-date commitments sit at a 5-year high of 303 mb.
SovEcon bumped their Russian wheat estimate up to 83.6 mmt, 0.6 mmt higher from their previous forecast.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn continues to push higher at midday for the third consecutive day, gaining strength as traders shift their focus away from Midwest weather concerns toward the potential for new demand driven by upcoming trade deals.
U.S. weather remains bearish for the next week, with rain expected across the central Corn Belt. However, temperatures are forecast to rise above normal in most crop areas — except for the far northern Plains — later in the week.
LSEG has lowered its corn production estimate for Ukraine by 1.8%, bringing the forecast down to 27.2 million tons.
Dr. Cordonnier raised his U.S. corn yield estimate by 2 BPA to 182, surpassing the USDA’s current estimate of 181. He also increased his forecast for Brazil’s corn crop by 2 mt to 134 million, compared to the USDA’s projection of 132 million. Cordonnier noted that Mato Grosso is experiencing record yields.
Ethanol production rose slightly to 320 million gallons, up from 319 million the previous week, though still down 2% year over year. The production process used approximately 108.5 million bushels of corn.
Soybeans are reversing yesterday’s losses in midday trade, with the soy complex continuing to post gains. The market is finding support following a White House announcement that a trade agreement has been finalized with Indonesia, which includes a significant commitment to U.S. agricultural purchases — including soy products. At midday, soybeans and soybean meal are trading higher, while soybean oil is under slight pressure.
USDA confirms the sale of 120,000 tons of U.S. soybeans for delivery to unknown destinations in 2025/26.
Dr Cordonnier raised his U.S. soybean yield estimate to match USDA at 52.5 bpa.
The weather pattern across the core of the soybean belt is expected to remain active over the next week, with much-needed rainfall forecast for the dry areas of Indiana and Illinois.
Wheat markets are trading mixed at midday, continuing to struggle despite strength in the corn market.
Global wheat harvests are ongoing, adding to market supply and making it difficult for prices to extend gains during this period.
As of July 7th, 36% of France’s soft wheat crop has been harvested, with conditions steady at 68% rated good to excellent, according to FranceAgriMer.
A strong recovery in wheat production is expected across the EU in 2025, which will contribute to an increase in global supply.
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 bouncing at midday, supported by private weather groups calling for drier forecasts through August.
Yesterday’s Crop Progress report showed corn ratings unchanged from last week at 74% good-to-excellent, which is up from 68% during the same period last year.
Brazil’s corn harvest is advancing but sits at just 40% complete, well below last year’s pace of 70% at this time.
Soybeans are slightly higher at midday, supported by higher corn and wheat markets and expectations of higher NOPA crush numbers for June.
Monday’s Crop Progress report showed a 4% jump in ratings to 70% good-to-excellent, up from 68% during the same week last year.
June’s NOPA crush numbers will be released today and are expected to show an increase to 185.19 mb, which if realized would be up 5.5% from a year ago. Soybean oil stocks are seen at 1.37 billion pounds, which would be well below last year’s number of 1.622 billion pounds.
All three wheat classes are trading higher at midday, supported by technical support levels after testing multi-month lows in Chicago wheat.
Spring wheat ratings improved to 54% good-to-excellent, up from 50% the week prior but down from 77% good-to-excellent last year. Winter wheat harvest advanced 10% from last week to 63% complete.
Russia’s IKAR has lowered their wheat production forecast for the country to 84 mmt, down from the groups previous estimate of 84.5 mmt.
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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 futures are higher at midday after a lower open on Sunday night.
Over the weekend, the Trump administration announced a 30% tariff on both the European Union and Mexico, set to begin August 1. The news is especially significant for corn, as Mexico is the top buyer of U.S. corn. The move adds another layer of uncertainty to an already pressured market facing strong crop prospects and low prices.
USDA raised Brazil’s 2025 corn production estimate by 2 MMT to 132 MMT, aligning with Conab’s update the day prior. This bumped up global corn stocks (excluding China), though overall inventories remain near 12-year lows, keeping the global supply picture historically tight.
Soybean futures are lower to unchanged at midday.
Friday’s USDA report showed a 5% increase in 2025-26 soybean crush projections, driven by new biofuel policies. The 45Z tax credit and EPA’s RFS proposal favor U.S. feedstocks, boosting expected soybean oil use for biofuel by 3.25 billion pounds.
Weather forecasts through late July remain favorable, with continued chances for widespread moisture across the Midwest supporting crop development.
Wheat futures are slightly lower to start the week as winter wheat harvest progresses on in the U.S.
USDA raised its forecast for durum and spring wheat production to 584 mb, which would be supported by the second-highest spring wheat yield on record. However, traders may view this estimate with skepticism given ongoing hot, dry conditions in the northwestern U.S. and poor crop ratings in key states like Montana.
In Argentina, recent rains improved wheat crop conditions; planting is 91% complete with 6.7 million hectares expected.
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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 futures are trading lower during midday trade as market participants remain cautious ahead of the USDA’s WASDE report, scheduled for release today at 11 a.m. Central Time.
According to a Dow Jones survey, the WASDE report is expected to lower the estimate for new-crop U.S. corn ending stocks from 1.750 bb to 1.733 bb, though some analysts anticipate a deeper cut.
The portion of U.S. corn acreage under drought conditions remains unchanged at 12%, up from 7% at this time last year.
Brazil’s corn harvest is just over 40% complete, while Argentina has reached 70.4% completion.
French corn conditions declined by 3% this week, while China’s Agriculture Ministry reported heavy rainfall across northern crop regions, warning of potential significant flooding over the next 10 days.
Soybean futures are trading lower at midday as traders await the USDA’s WASDE report, questioning whether it will offer any data substantial enough to shift the bearish sentiment that has weighed on the soy complex in recent weeks. Both soybeans and soybean meal are under pressure, while soybean oil is posting modest gains.
According to a Dow Jones survey, the WASDE report is expected to raise the estimate for new-crop U.S. soybean ending stocks from 295 mb to 304 mb.
USDA confirms the sale of 219,900 tons of U.S. soybeans for delivery to Mexico for the 25/26 year.
Tariff uncertainty continues to weigh on soybean markets, as President Trump stated that the European Union would receive a letter today regarding potential tariff measures.
Some U.S. soybean-growing areas are expected to receive relief next week, with precipitation forecasted across most of Iowa and parts of northern Illinois.
Wheat futures are trading lower during Friday’s midday session as traders remain cautious ahead of the USDA data release later this morning. The market is bracing for slightly lower production estimates and modest declines in both old- and new-crop ending stocks.
U.S. winter wheat drought conditions worsened, with 25% of the crop now under drought—up 1% from last week and significantly higher than 20% at this time last year. HRS wheat drought also increased by 6% to 35%.
Ukraine’s wheat harvest has started slowly, with just 1.2 million tons harvested so far—down 78% compared to this time last year. In Argentina, the wheat crop is 91% planted, while France’s harvest progress has accelerated significantly, reaching 36% complete compared to 15% at the same point last year.
Dry conditions in Western Australia are expected to reduce the regional wheat crop by 24% compared to last year. Meanwhile, LSEG has lowered China’s wheat production forecast by 1.2%, despite official Chinese government estimates remaining unchanged.
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 are trading slightly higher at midday, supported by firmer wheat prices ahead of tomorrow’s WASDE report. December corn continues to trade near the contract low of $4.1175.
Weekly corn export sales came in above analyst expectations at 85 mb. Year-to-date commitments total 2.731 billion bushels, which is up 28% from a year ago.
Conab released their production estimates for Brazil this morning. The group estimates Brazil’s corn crop at 132 mmt, up from their previous estimate of 128.25 mmt.
Soybeans remain slightly higher at midday after backing off from earlier highs as weather conditions continue to lean bearish for prices.
Weekly export sales for soybeans totaled 28 mb, which was in line with trade expectations. Year-to-date commitments now sit at 1.853 billion bushels, up 12% from last year.
President Trump announced 20% tariffs for the Philippines starting on August 1st. This has led to some concerns with export business has the Philippines were the top buyer of U.S. product last season.
Conab slightly lowered Brazil’s soybean production forecast from 169.6 mmt to 169.5 mmt.
All three wheat classes are trending higher at midday on concerns that the USDA could show declining production estimates in tomorrow’s WASDE report.
Weekly wheat export sales were above expectations at 21 mb. Year-to-date commitments are currently at a 5-year high of 285 mb and up 9% from last year.
Conab has lowered their wheat production forecast in Brazil to 7.8 mmt, down from the groups previous estimate of 8.2 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 turn higher at midday, following contract lows set overnight. The September contract dipped below the key $4.00 mark, highlighting ongoing pressure in the market. Traders continue to struggle to find support amid a strong harvest in South America and favorable early conditions for the U.S. crop.
The South American corn crop continues to thrive, adding further pressure to global prices. IMEA has raised its corn production estimate for Brazil’s, Mato Grosso, to 54 million metric tons, up from 50.4 million just last month.
The USDA rated the U.S. corn crop 74% good to excellent as of Monday—the highest rating for this time of year since 2018. Current crop conditions point toward a potentially strong fall harvest. The USDA also estimates that U.S. farmers have planted 95.2 million acres of corn in 2025, marking the largest planted area in 12 years.
Markets are looking ahead to Friday’s USDA Supply and Demand report, with expectations for slight reductions in both old and new crop corn ending stocks. Old crop ending stocks are projected at 1.342 billion bushels, down from 1.365 billion last month. New crop stocks are estimated at 1.733 billion bushels, a slight decrease from 1.750 billion previously.
Ethanol production rebounded this week to 319 million gallons, up from 316 million the previous week and 3% higher year-over-year. The increase exceeded market expectations and is running ahead of the pace needed to meet the USDA’s corn usage estimate. This week, 108 million bushels of corn were used in ethanol production.
The soybean market continues its downward trend at midday, with the entire soy complex trading lower. Traders remain cautious as they look ahead to Friday’s July USDA Supply and Demand report, which could further influence price direction. Uncertainty around demand and updated production estimates is keeping pressure on the market.
Ahead of Friday’s USDA report, analysts expect old crop soybean ending stocks to rise slightly to 358 million bushels, up from 350 million last month. New crop stocks are also projected higher at 304 million bushels, compared to 295 million previously. Global soybean ending stocks are not expected to change significantly, while Brazil and Argentina bean production estimates are seen ticking slightly higher from last month.
Unconfirmed reports suggest the U.S. may be working on a new trade agreement with India that could include imports of non-GMO U.S. soybeans. While the development could open a new export market for U.S. producers, the White House has not yet confirmed the report.
With favorable weather across key U.S. growing regions and ongoing tariff-related trade uncertainties, bearish sentiment continues to dominate the soybean market. At present, there are few fundamental or technical drivers to support a rally—barring a significant surprise in Friday’s USDA report.
Wheat futures have turned mixed at midday as ongoing trade negotiations progress and harvest activity continues across the U.S., Black Sea region, and EU. The market is expected to remain under pressure in the near term due to the ample global supply from these harvests.
The winter wheat harvest continues to advance, with 82% complete in Kansas. However, progress in Nebraska remains slow, at just 22% complete, as ongoing rains are causing delays and interruptions.
U.S. winter wheat conditions remain slightly weaker compared to last year. Production for 2025 is projected at 1.903 billion bushels, down from 1.971 billion bushels in 2024, reflecting some ongoing challenges in key growing areas.
Alongside a smaller overall U.S. wheat crop, Montana’s wheat crop is struggling due to drought conditions. The USDA reports that 37% of Montana’s spring wheat is rated poor to very poor, highlighting the impact of insufficient rainfall on crop health.
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 lower at midday, pressured by bearish weather and improvements to corn ratings.
Yesterday’s Crop Progress report showed that corn ratings improved 1% to 74% good-to-excellent. This compares to 68% good-to-excellent at the same time last year.
According to AgRural, Brazil’s corn harvest is now 28% complete, up 10% from last week but down from 63% at this time a year ago.
Soybean prices continue to trend lower at midday as US weather remains friendly for growing conditions.
Monday’s Crop Progress report saw soybean ratings unchanged at 66% good-to-excellent, down from 68% during the same period a year ago.
Brazil’s soybean exports have eclipsed last year’s record pace by 3% at 67.4 mmt. China has imported 47.6 mmt from Brazil since February which has added to competition pressure for the US.
All three wheat classes are trading lower at midday pressured by weakness in the rest of the grain market.
Winter wheat harvest now stands at 53% complete, below 62% at this time last year. Winter wheat conditions were unchanged from last week at 48% good-to-excellent
Spring wheat ratings fell 3% to 50% good-to-excellent and well below last year’s rating of 75% good-to-excellent.
Two grain ships were attacked in the Red Sea this week, which could lead to some support if concerns rise over shipping risks.
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 remained under pressure at midday after gapping lower on Sunday night’s open. Forecasts calling for timely rainfall across the Corn Belt this week—just as pollination begins for many fields—are weighing heavily on the market.
The USDA reported private export sales of 135,000 metric tons (MT) of corn to Mexico. Of the total, 29,000 MT are scheduled for delivery during the 2024/25 marketing year, while 106,000 MT are for 2025/26 delivery.
Corn demand remains strong, with ethanol production running above seasonal norms and exports up 27% year-over-year. As of last week, $4.20 corn in Iowa yielded $5.92 in product value, reflecting solid margins. USDA reports 2.213 billion bushels shipped so far in 2024-25, keeping pace to meet the 2.650 bb export target by August 31.
Soybean futures are sharply lower at midday after gapping lower on the Sunday night market open.
Ongoing uncertainty around trade talks with China and other Asian countries continues to pressure U.S. soybean prices. The key test will be China’s buying activity this fall. A positive sign: August FOB soybean prices in Brazil remain 36 cents per bushel higher than in the U.S., despite Brazil’s record harvest earlier this year.
Last Monday, USDA estimated one bushel of $10.31 soybeans in Illinois could yield $12.73 in products—an incentive for continued strong crush demand.
Wheat futures opened the week lower across all classes, tracking weakness in corn and soybean markets.
Concerns remain over dry, hot conditions impacting the Russian wheat crop, while forecasts for rain and cooler temperatures in Europe and Ukraine offer some relief to their recent heat stress.
USDA’s estimate of 10 million U.S. spring wheat acres marks the lowest since 1970, as dry conditions in Montana and parts of Canada raise further concerns. As of last Monday, just 53% of the crop was rated good to excellent—well below the 72% rating from a year ago.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
The CME and Total Farm Marketing Offices will be closed Friday, July 4, in Observance of Independence Day
All prices as of 10:30 am Central Time
Corn
SEP ’25
421.5
3.5
DEC ’25
437.75
4.25
DEC ’26
467
4
Soybeans
AUG ’25
1058.75
5.25
NOV ’25
1053
5
NOV ’26
1071.5
4.25
Chicago Wheat
SEP ’25
563.5
-0.5
DEC ’25
584.5
0.5
JUL ’26
619.5
2
K.C. Wheat
SEP ’25
541.5
-0.75
DEC ’25
565.75
-0.25
JUL ’26
610.5
0.5
Mpls Wheat
SEP ’25
6.475
-0.015
DEC ’25
6.6575
-0.015
SEP ’26
6.855
0
S&P 500
SEP ’25
6325
50
Crude Oil
SEP ’25
65.31
-0.7
Gold
OCT ’25
3362.9
-24.6
The USDA announced a flash sale of corn this morning, totaling 150,000 mt. It was sold to an unknown destination for the 24/25 marketing year.
The USDA reported an increase of 21.0 mb of corn export sales for 24/25 and an increase of 37.0 mb for 25/26.
This evening, President Trump will speak in Des Moines, Iowa. Traders are hopeful for an announcement of progress being made towards a trade deal with China.
Spec traders are estimated to have purchased around 16,000 corn contracts yesterday, which would reduce the fund net-short position to around 165,000 contracts.
This morning the USDA announced a flash sale of soybeans, in the amount of 226,000 mt, sold to an unknown destination for the 24/25 marketing year. There was also a sale of 195,000 mt of soybean meal to unknown.
The USDA reported an increase of 17.0 mb of soybean export sales for 24/25 and an increase of 8.8 mb to 25/26.
Yesterday President Trump announced a trade agreement with Vietnam, which has added to the bullish move in the markets. Vietnam is one of the top 10 buyers of US soybeans and meal.
Traders will be watching for the vote on the “big beautiful” budget bill. It passed the Senate and moves onto the House of Representatives today. It includes the structure for biofuel tax incentives, which will impact soybean oil.
Both winter wheat futures classes are at or near moving average technical resistance. In addition to harvest pressure, this may help to explain why it is lagging behind corn and soybean futures at midday.
The USDA reported an increase of 21.5 mb of wheat export sales for 25/26, and 0 mb for 26/27.
Reportedly, there are growing concerns in Kansas about the prevalence of wheat streak mosaic virus, which could ultimately impact yields.
Spring wheat areas in the northwestern US are seeing expanding drought readings. This has helped MIAX spring wheat futures to rally about 30 cents in the past couple of sessions on concerns about declining crop conditions.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
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