Midday

The CME and Total Farm Marketing Offices will be closed Thursday, June 19, in Observance of Juneteenth

 

All prices as of 10:30 am Central Time

• Corn futures are relatively flat from earlier price action at midday. July and December contracts continue to hang below the $4.40 level as weather forecasts lean favorable for growing conditions.
• Monday’s Crop Progress report showed corn planting in the US is now complete. Crop conditions improved by 1% to 72% good-to-excellent.
• Global corn supply is estimated to be greater as favorable weather is leading to sufficient growing conditions. However, with lower beginning stocks and higher consumption, world supply for 2025/26 corn is still seen as tight.

• Soybeans have reversed higher at midday on support from the rest of the soy-complex and declining crop conditions.
• Yesterday’s Crop Progress report showed soybean planting in the US at 93% done, up from 92% last year and the 5-year average of 84%. Ratings were seen slipping 2% to 66% good-to-excellent.
• May NOPA crush was a record for the month at 192.83 mb but was still below the average trade estimates.

• Chicago and HRW futures are higher at midday, supported by global production cuts and falling crop conditions.
• Winter wheat ratings were seen falling 2% to 52% good-to-excellent in yesterday’s Crop Progress report. Winter wheat harvest is seen at 10% complete. Spring wheat improved 4% to 57% good-to-excellent.
• Winter rapeseed harvest in France is seen reaching 4.2 mmt, which if realized would be 9.4% higher than 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. 

All prices as of 10:30 am Central Time

• Corn futures are lower to start the week, with July leading the decline as a continued non-threatening weather forecast weighs on the market.
• Crude oil futures reversed lower after early gains, as traders grow confident the Israel-Iran conflict will remain contained.
• Brazil’s safrinha corn harvest is 5.5% complete, well behind last year’s pace of 14% for the same week.

• Soybean futures are mixed this morning, supported by a sharp rally in soybean oil.
• Soybean oil futures gapped higher to start the week following Friday’s EPA announcement of significantly higher biofuel blending mandates over the next two years.
• NOPA crush data due later today is expected to show a record-high May crush of 193.5 mb, nearly 10 mb above May 2024.

• Wheat futures are lower across the board to start the week as harvest gains momentum across the U.S. Plains.
• This afternoon’s crop progress report may reflect expanding dryness in areas like Montana and Idaho, though recent rains elsewhere could offset declines and keep national ratings roughly steady.
• If tensions escalate in the Middle East or Black Sea region, traders may look to cover part of their sizable net-short position—currently estimated at over 160,000 contracts across KC and Chicago wheat.

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

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

All prices as of 10:30 am Central Time

• Corn edges higher, lifted by the wheat market and war tensions increasing between Israel and Iran.
• The Buenos Aires Grain Exchange left their corn production estimate for Argentina unchanged at 49 mmt, down from 51.6 mmt last year.
• Ukraine has completed corn sowing for the 2025 season. According to the farm ministry, there are an estimated 4.031 million hectares of corn sown.

• Soybeans are bouncing at midday on newfound strength related to updated biomass diesel quotas for 2025, 2026 and 2027.
• The Renewable Fuels Association released the new biomass quotas today, which now stand to be at 3.35 billion gallons for 2025, 5.61 billion gallons for 2026, and 5.86 billion gallons for 2027.
• The Buenos Aires Grain Exchange slightly raised their soybean production forecast for Argentina from 50 mm to 50.3 mmt.
• Monday will be the release of the May NOPA crush report. Average analyst guesses are at 193.519 mb, which if realized, would be up 1.7% from April and up 5.4% from May of 2024.

• All three wheat classes are higher at midday, supported by Israel attacking Iran overnight, leading to further tensions between the two countries.
• BAGE reported that wheat seeding in Argentina is now seen at 38.5% complete, up from 23.6% last week.
• The USDA reported that the Taiwan Flour Miller’s Association bought an estimated 95,450 mt of milling wheat from the U.S. yesterday.

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

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

All prices as of 10:30 am Central Time

• Corn futures are little changed at midday as market participants await the June WASDE report before taking action.
• Weekly corn export sales were on the low end of expectations at 30 mb. Year-to-date commitments total 2.596 billion bushels, up 26% from last year.
• Conab has raised their corn production forecast for Brazil to 128.25 mmt, up from 126.87 mmt last month.

• Soybean prices lean slightly higher at midday, but overall trade is quiet ahead of the WASDE report this morning.
• Weekly export sales for soybeans were lackluster, coming in below expectations at just 4 mb. Year-to-date commitments now total 1.790 billion bushels, up 11% from a year ago.
• Conab has raised their soybean production forecast for Brazil to 169.6 mmt, up from 168.34 mmt last month.

• Minneapolis wheat futures are the strong leg of the wheat complex at midday. Chicago and HRW are lower ahead of the June WASDE report, which is widely expected to show increases to winter wheat yields.
• Weekly export sales for wheat were poor with total sales for the week totaling less than 1 mb. Year-to-date commitments for new crop have reached 217 mb, up 22% from last year and an 8-year high.
• The Rosario Grains Exchange in Argentina has slightly lowered their estimate for the country’s wheat output from 21 mmt to 20.7 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. 

All prices as of 10:30 am Central Time

• Corn futures have backed off at midday after a reversal in the wheat market and ethanol production rebounding.
• Today’s Weekly Ethanol Production report showed production totaling 329 million gallons, up from 325 million gallons the week prior. Ethanol stocks were seen dropping to 23.7 million barrels, which is the lowest level since December 2024.
• Thursday’s WASDE report is widely expected to show Brazil’s corn crop increasing by 1 to 2 mmt. However, Brazil is expected to increase domestic usage for animal feed and ethanol production which could limit export quantities.

• Soybeans have fallen at midday on expected increases to ending stocks in tomorrow’s WASDE report for both old and new crop.
• Abiove has left their soybean production estimate unchanged for Brazil at 169.7 mmt for the 2024/25 season.
• According to Anec, Brazil’s soybean exports for the month of June are seen at 14.08 mmt. This compares to 12.55 mmt just a week earlier.

• Minneapolis wheat futures remain higher at midday, while Chicago and HRW contracts have reversed lower. Weather forecasts are calling for rain next week but are not supposed to hit HRW growing areas which have seen plenty of moisture so far this season.
• EU soft wheat exports as of June 8th totaled 19.5 mmt, down 33% from the same period last year.
• China’s agricultural ministry reported that wheat harvest in the country is now at 74.7% complete as of June 10th.

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 are being pulled down by the wheat market as well as planting reaching the home stretch.
• Monday’s Crop Progress report showed corn planting in the U.S. has now reached 97%, up 4% from last week and in line with the 5-year average.
• According to AgRural, Brazil’s winter corn harvest is off to its slowest start since 2021, sitting at just 1.9% complete. This compares to 10% harvested in the same week last year.

• Soybeans have reversed higher at midday on optimism from trade talks between the U.S. and China yesterday.
• Yesterday’s Crop Progress report showed soybean planting at 90% complete, up from 84% last week and 2% ahead of the 5-year average.
• The Malaysia Palm Oil Board has reported that palm oil inventories in the country have increased to an eight-month high of 1.99 mmt. Production was also seen climbing 5.1% to 1.77 mmt.

• All three wheat classes continue to drift lower, pressured by global increases in total wheat output and yesterday’s crop ratings.
• Yesterday’s Crop Progress report showed Spring wheat ratings improving to 53% good-to-excellent but remain well below last year’s rating of 72% good-to-excellent. Winter wheat ratings improved 2 points from last week to 54% good-to-excellent.
• SovEcon raised their Russian wheat production forecast by 1.8 mmt to 82.8 mmt. The group cited good weather in the Southern region as the reason for the increase in production.

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 continue to drift lower at midday, pulled down by improved weather forecasts which are calling for rainfall.
• FAO-AMIS expects global corn production to increase by 3.8% to a record 1.26 billion tons during the 2025/26 season.
• The Rosario Grain Exchange reported that Argentina could lose export business to the US if a trade agreement is made between the US, China and Vietnam.

• Soybeans remain weaker at midday as weather patterns remain bearish this week.
• The US and China are having trade talks in London today. An announcement on those discussions is expected later today or tomorrow.
• According to China’s General Administration of Customs website, year-to-date Chinese soybean imports have fallen 0.7% to 37.108 mmt.
• Brazil’s 2024/25 soy sales have reached 64% complete, down from 71.8% last year and below the 5-year average of 76.9% sold, according to Safras & Mercado.

• All three wheat classes are trading lower at midday, pressured by weather forecasts showing rainfall moving back into the northern Plains.
• The UN-FAO has lowered their global wheat stocks estimate by 6.8 mmt, to 310 mmt. If realized, this would be the lowest stockpile in the last 4 years.
• SovEcon expects Russia’s wheat exports for the month of June to be down from 1.9 mmt last year to 1.7 mmt this 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. 

All prices as of 10:30 am Central Time

• Corn futures remain slightly weaker at midday following yesterday’s gains. Harvest pace in South America is also contributing to the slight weakness.
• Brazil’s Ag Ministry reported that corn exports during the month of May only reached 39k mt, down from 413k mt a year ago.
• SovEcon has increased their corn production estimate for Ukraine by 1.5 mmt to 28.3 mmt.

• Soybeans are leaning higher at midday on support from a warmer and drier weather outlook over the next 8-14 days.
• The Buenos Aires Grain Exchange estimates that soybean harvest in Argentina has reached 88.7%, up 8% from last week.
• Brazil’s Ag Ministry reported that the country’s soybean exports for the month of May reached 14.1 mmt, up from 13.437 mmt during the same period last year.

• All three wheat classes are trading lower at midday pressured by a slightly higher dollar and a weaker corn market.
• According to the UN’s Food and Agriculture Organization, global wheat stocks for the 2025/26 season are seen at 310 mmt, down from 316.8 mmt last season.
• BAGE pegged wheat seedings in Argentina at 23.6% complete, up from 10.5% last week.

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

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

All prices as of 10:30 am Central Time

• Corn futures remain higher at midday on support from export sales as well as the US and China entering discussions regarding the ongoing trade war.
• Weekly export sales for corn came in at 43 mb, which were in line with the average trade expectations. Year-to-date commitments total 2.564 billion bushels, up 27% from a year ago.
• LSEG raised their safrina corn crop forecast to 127.4 mmt, which is still below the USDA’s estimate of 130 mmt.

• Soybean futures have reversed higher at midday after President Trump confirmed he has spoken with China’s president and discussions were positive.
• Weekly export sales for soybeans were at the bottom end of trade expectations, totaling just 7 mb. Year-to-date commitments total 1.788 billion bushels, up 12% from last year.
• Anec estimates that Brazil’s soybean exports in June will be down 1.3 mmt to 12.55 mmt compared to last year. The group has also forecasted soybean meal exports for June to be down to 1.29 mmt compared to 2.05 mmt a year ago.

• Wheat prices continue to trade higher along with the rest of the grain market at midday. Global production cuts are helping to keep support under the market.
• Weekly export sales for wheat totaled 14 mb, which was at the low end of expectations. Year-to-date commitments are now at 782 mb, up 14% from a year ago.
• LSEG has lowered their wheat production estimate for China by 1% to 141.7 mmt, due to drought 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. 

All prices as of 10:30 am Central Time

• Corn futures are getting some flow over support from Tuesday’s higher session. Weather forecasts for the second half of June are also turning drier, which is keeping support under the market.
• Ethanol production increased to 325 million gallons, up from 310 million gallons last week and 3% higher from the same week last year. Ethanol stocks rose to 24.4 mb, up from 23.1 mb a year ago.
• Ukraine’s Ag Minister estimates the countries corn output could be near 26 mmt. This compares to the USDA’s estimate of 30.5 mmt.

• Soybeans and the rest of the soy complex are firm at midday on support from US and China’s scheduled negotiation talks today.
• EU soybean imports for the 2024/25 season are at 12.94 mmt, up from 12.13 mmt last season.
• Malaysia’s palm oil stocks are seen rising in May to 2.01 mmt according to a survey put out by Reuters. This would be the third straight month of higher stocks as production rebounds.

• Chicago and HRS wheat remain higher at midday, supported by extended weather forecasts calling for warm and dry weather not only in the US but other countries as well.
• LSEG’s wheat production estimate for Ukraine was left unchanged at 20.1 mmt, but mentioned drought risks across the country are increasing.
• China has approved imports of coarse ground wheat and rye flour from Russia. This comes as concerns over production rise due to the country dealing with drought 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.