Midday

All prices as of 10:30 am Central Time

• 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. 

All prices as of 10:30 am Central Time

• 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. 

All prices as of 10:30 am Central Time

• 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

• 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.

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 futures have reversed higher at midday, supported by rising wheat futures and short covering as we drift closer to the July 4th holiday.
• Weekly ethanol production fell to 316 million gallons, down from 318 million gallons the week prior, but is up 1% from the same period last year. Ethanol stocks were also down to 24.1 million barrels, which was last year’s level of 23.6 million barrels.
• StoneX has raised their corn production estimate in Brazil to 136.1 mmt, up 2.1 mmt from the groups previous estimate.

• Soybeans continue to trend higher at midday, supported by the soybean oil market and a recent bill that prohibits the use of biofuels made from materials outside of North America.
• According to Anec, Brazil’s soy exports are seen reaching 13.93 mmt in June, up from the previous estimate of 13.83 mmt.
• AmSpec Agri group reported that Malaysia’s palm oil exports increased to 1.29 mmt in June, up 0.6 mmt from May.

• All three wheat contracts are now higher at midday on short covering and Black Sea war concerns.
• LSEG has raised their wheat production forecast for Ukraine to 20.7 mmt, up 3% from their previous estimate.
• Weakness in the dollar is also contributing to the minor rally at midday and could help keep support under 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. 

All prices as of 10:30 am Central Time

• Corn prices remain lower at midday, pressured by improving crop conditions and favorable weather conditions.
• Monday’s Crop Progress report showed crop conditions improving 3% to 73% good-to-excellent.
• AgRural has raised their corn production estimate for Brazil to 130.6 mmt, up 2.1 mmt from their previous forecast.

• Soybeans continue to trend weaker at midday on higher soybean stocks and bearish weather forecasts.
• Yesterday’s Crop Progress report showed soybean conditions steady at 66% good-to-excellent.
• The US and Italy are set to form a new task force in order to boost US soybean exports to Italy, Brooke Rollins announced yesterday.

• Wheat classes are mixed at midday, with Chicago and HRW contracts trading higher at midday, supported by a weaker dollar and lower harvested acres.
• Winter wheat conditions fell 1% to 48% good-to-excellent while harvest improved from 18% last week to 37% this week.
• Argus Media estimates that Ukraine wheat production is now seen at 21.9 mmt, down from the groups earlier estimate of 23.7 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 trade is quiet Monday morning as markets await the USDA Acreage and Grain Stocks reports.
• Analysts expect a slight increase in U.S. planted corn acreage, while June 1 stocks are projected to be lower than a year ago.
• Pockets of dryness are emerging east of the Mississippi River, and warmer-than-normal temperatures over the next 10 days may further stress crops in areas that have missed recent rains.

• Soybean futures are higher Monday morning ahead of the USDA report at 11 a.m., supported by news of a trade truce with China over the weekend.
• A daily flash sale of soybean meal to unknown destinations also provided an early boost.
• Trade expectations call for a slight increase in planted acreage from March intentions, while June 1 soybean stocks are projected to be near last year’s 970 million bushels.

• Wheat futures are slightly higher to start the week, supported by positive trade developments over the weekend.
• Traders are anticipating total U.S. wheat acreage to come in between 45 and 46 million acres in today’s USDA report, though more attention may be paid to stocks figures, which will represent 2024-25 beginning supplies.
• Weather remains a key factor, with storms forecast across Kansas, Nebraska, and the Dakotas likely to slow winter wheat harvest progress. The Northern Plains also experienced heavy weekend rains and tornadoes in North Dakota, adding to concerns.

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 remain higher at midday on some short covering going into the weekend after the recent drop in prices.
• Bage reported corn harvest in Argentine for the 2024/25 season has now reached 55.3%, up 5.7% from last week. The group left their production estimate of 49 mmt unchanged.
• Datagro has raised their Brazilian corn crop estimate to 134 mmt, up almost 1% from the groups previous estimate.

• Soybeans are seeing support today on short covering heading into the weekend potentially breaking a five-day losing streak.
• Bage pegs Argentine’s soybean harvest for the 2024/25 season at 98.3% complete, up 1.8% from the week prior. The group kept their production estimate unchanged at 50.3 mmt.
• Datagro raised bumped their soybean production estimate for Brazil by 1.5 mmt to 173.5 mmt.

• Chicago and Minneapolis wheat remain higher at midday along with corn and soybeans on short covering and drought conditions increasing. HRW contracts are edging slightly lower at midday.
• Winter wheat drought conditions climbed 6% to 20% under drought. HRS areas under drought also rose 3% to 25% under drought.
• Bage reported wheat planting in Argentine advanced 12.4% to 72.7% complete.

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

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

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

All prices as of 10:30 am Central Time

• Corn futures have reversed lower at midday as weakness in commodities is spilling over into prices.
• Weekly export sales for corn came in at 41 mb, which was in line with expectations. Year-to-date commitments now total 2.660 billion bushels, up 27% from the same week last year.
• Larger Brazilian harvest and rain showers across the US are limiting any upside potential for corn prices this week.

• Soybeans are drifting lower at midday on continued pressure from bearish weather and weaker grain prices.
• Weekly soybean export sales were in line with trade expectations at 21 mb. Year-to-date commitments total 1.818 billion bushels, which is up 11% from a year ago.
• Ukraine’s soybean harvest is seen at 6.1 mmt, down from 6.5 mmt last season. However, soy exports are seen increasing slightly from 3.4 mmt last season to 3.6 mmt this season.

• Wheat prices continue to see downside pressure as the rest of the commodity market struggles this week.
• Weekly wheat export sales came in at 9 mb, which was below trade expectations. Year-to-date commitments total 242 mb, up 8% from the same week last year.
• The US Dollar dropped to a 3-year low overnight which could bring some short-term support to wheat prices but for now futures contracts remain weaker.

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 struggle at midday on bearish weather patterns and high production estimates in South America.
• Ethanol production came in at 318 million gallons, up 3.6% from the same week last year but was down from 326 million gallons last week. Ethanol stocks creeped higher to 24.4 million barrels, up from 23.4 million barrels last year.
• AgroConsult has raised their estimate for Brazil’s safrina crop after a recent survey. The group now pegs Brazil’s safrina corn crop at 123.3 mmt, up from their previous estimate of 112.9 mmt.

• Soybeans are lower at midday, pressured by a favorable weather outlook for growing conditions and lack of bullish news.
• China and Brazil are reportedly working on an agreement exclusively for soy exports to meet China’s import needs.
• According to Anec, Brazil’s soy exports are now seen reaching 14.99 mmt in June, up from the groups previous estimate of 14.36 mmt.

• Wheat prices remain weaker at midday on pressure from the rest of the grain market and geopolitical risks cooling off.
• Sovecon has raised their wheat production estimate for Russia to 83 mmt, which is now in line with the USDA’s estimate.
• Egypt reportedly bought between 300-400k mt of wheat from Russia, Ukraine and Romania over the past couple of weeks. This may create more downside pressure in wheat prices as global competition stiffens along with the ongoing tariff situation.

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.