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 prices are moving higher at midday, supported by news of U.S. corn sales. The fresh demand has provided a boost to market sentiment, offering a slight lift to the market.
• USDA confirms the sale of 100,000 tons of corn to Colombia and 125,741 tons to Mexico of U.S. corn for the 25/26 year.
• The Pro Farmer Crop Tour continues to report strong results, with Ohio and South Dakota showing particularly impressive performance — prompting talk of potential record yields. Nebraska also posted a solid showing at 179.5 bushels per acre, its highest yield since 2021 and well above the previous average of 173.25. While weather conditions have introduced some variability in the fields, the tour has generally found record-level pod and ear counts across key areas. Today, the tour moves through Illinois and Iowa, where results will be closely watched to further assess the potential of this year’s crop.
• Ethanol production declined to 315 million gallons last week, hitting a 12-week low compared to 321 million gallons the previous week and marking a 2.4% decrease year-over-year. Corn usage for ethanol production totaled 107 million bushels, averaging 15.26 million bushels per day—above the 14.92 million bushels per day needed to meet the USDA’s forecast.

• Soybeans are trading higher at midday, supported by a weaker U.S. dollar and optimism following a recent soybean sale to Mexico. Both soybeans and soybean meal are showing gains, while soybean oil is trading lower.
• As the Pro Farmer Crop Tour progresses across the U.S., scouts continue to report that soybean crops are in very good condition overall, with only minor trouble spots linked to localized weather issues. The tour is highlighting strong yield potential, with Nebraska and Indiana showing signs of possible record production.
• Traders remain concerned about China’s demand for the new crop, as uncertainty lingers over whether a trade agreement can be reached in time to capitalize on the typical U.S. export window in the fall and early winter.
• Brazil’s soybean exports for August are now projected at 8.9 million tons, up slightly from last week’s estimate of 8.8 million. Soymeal exports were also revised higher to 2.33 million tons, compared to 2.27 million previously. The increase comes as no surprise, with China continuing to turn to Brazil as a source for soybeans.
• The American Soybean Association sent a letter to President Trump yesterday, urging the administration to avoid further prolonging the trade war with China. They emphasized the financial strain U.S. farmers are facing due to persistently low prices and reduced export volumes to China. In the letter, the organization called on the President to make soybeans a key priority in ongoing trade negotiations.

• The wheat market posted gains at midday, supported by strength from a declining U.S. dollar, which is falling back toward recent lows.
• IKAR increased its Russian wheat production estimate by 1 million metric tons, bringing the total to 85.5 million tons. Meanwhile, the European Union is facing a crop that is 16 million tons larger than last year’s harvest.
• The U.S. spring wheat harvest has caught up to its typical pace and, as of this past Sunday, is approximately one-third complete.
• Potential rainfall expected across the Southern Plains over the next week is helping to ease concerns about soil moisture ahead of winter wheat planting.

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 prices continue to lean lower at midday, pressured by good crop conditions and higher yields. December corn is down 2-3/4 to $4.03-1/4.
• Monday’s Crop Progress report showed corn ratings slipping one point from last week to 71% good-to-excellent but remains above last year’s 67% good-to-excellent.
• Corn export inspections were down 30.99% from last week and 13.7% lower from the same week last year at 1.05 mmt. Mexico was the top destination, followed by Japan and South Korea.

• Soybean futures are drifting lower at midday on pressure from the rest of the grain market. November soybeans are down 9-3/4 to $10.31-1/2, while the January contract is down 8-3/4 to $10.51-1/4
• Yesterday’s Crop Progress report showed soybean conditions unchanged from last week and last year at 68% good-to-excellent.
• Soybean export inspections totaled 473,605 mt during the week ending August 14. This was 16.6% higher than last year but down 13% from the week prior. Top destinations were Egypt, Mexico, and Taiwan.

• Wheat prices remain lower at midday, pressured by peace talks between the US, Russia, and Ukraine. September Chicago futures are down 3-1/4 to $4.99-1/2 while the December contract is down 3-1/2 to $5.21-1/2
• Yesterday’s Crop Progress report showed spring wheat ratings improving 1 point to 50% good-to-excellent but remain well below last year’s conditions of 73% good-to-excellent.
• Russia’s IKAR has raised their wheat production estimate by 1 mmt to 85.5 mmt which has added to the downside pressure in wheat prices.

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 futures are trading near unchanged to start the week, following a strong close last Friday, as markets await fresh catalysts amid robust U.S. export demand.
• Forecasted cooler temperatures and weekend rainfall across much of the northern Corn Belt should support grain fill for the maturing 2025 corn crop.
• The southern corn harvest is accelerating, with Louisiana’s harvest projected to exceed 65% completion this week and Arkansas nearing 20%. Strong yields, up significantly from last year, are straining storage, prompting some elevators to cut basis bids, pressuring local cash values.

• Soybean futures are trading near unchanged this morning, holding gains from last week’s rally sparked by the USDA’s 2.4-million-acre cut to soybean harvest estimates in the August WASDE report.
• New-crop soybean sales for 2025/26 are at their slowest pace in five years, down 20% from last year, with zero Chinese purchases despite this being their typical buying window, keeping export markets subdued.
• The Pro Farmer Crop Tour began today, with soybean pod counts expected to be robust due to ample moisture across most of the tour’s Midwest route, potentially signaling strong yields.

• Wheat futures are slightly lower to start the week hovering just above contact lows for all three wheat classes.
• Weekend rainfall across the Upper Midwest is likely to further slow the already delayed 2025 spring wheat harvest, lagging behind the average pace. Persistent moisture may also degrade grain quality in some areas.
• Following Friday’s U.S.-Russia summit in Alaska, President Trump hosts Ukraine’s President Zelenskyy and European leaders at the White House this week to negotiate an end to the three-year Russia-Ukraine war. A potential ceasefire could stabilize Black Sea grain exports, impacting wheat and corn prices.

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 futures are trading higher at midday, finally pushing past the bearish sentiment that had pressured the market lower in recent sessions. Support is building as global demand is expected to strengthen, driven by declining U.S. corn prices, which are putting U.S. corn in a highly competitive export position.
• CONAB has estimated Brazil’s corn production at 137 million tons, notably higher than the USDA’s projection of 132 million tons.
• Only 4% of the U.S. corn crop is currently experiencing drought conditions. At this stage of development, any weather changes are unlikely to significantly impact yields.
• Heavy precipitation is expected through midweek in Minnesota, eastern South Dakota, and Michigan, while the rest of the Midwest is forecast to remain mostly dry.

• Soybeans are trading higher at midday, continuing their recovery from yesterday’s downswing, supported by the U.S.’s strong export competitiveness. Both soybeans and soybean oil are posting gains, while soybean meal is trending slightly lower.
• Concerns persist over the lack of buying from China, which continues to weigh on soybean markets. Each week without a trade agreement narrows the U.S. export window before Brazil’s new harvest begins in early 2026.
• The percentage of U.S. soybeans under drought remains unchanged this week at 3%, compared to 6% at the same time last year.
• ABIOVE raised its Brazil soybean crush forecast to 58.1 million tons, up from 57.8 million tons last month, and increased soybean export projections by 500,000 tons.

• Wheat is pushing higher at midday, supported by the U.S.’s competitive export position as well as the ongoing rally in corn prices.
• The wheat market showed limited upward momentum this week, with global prices remaining mostly stagnant. Ongoing harvests in the Black Sea region and the U.S. continue to add supply to the market.
• President Trump and President Putin are set to meet today in Alaska as both sides explore the possibility of a cease-fire between Russia and Ukraine.
• Ukraine’s harvest has picked up but remains behind last year’s pace, with 19 million tons completed so far compared to 21.7 million tons at this time 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. 

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.