Corn futures are trading higher at midday as the market tries to stabilize near recent lows.
U.S.-China trade talks are reportedly progressing, though China’s corn imports remain underwhelming. Year-to-date imports total just 440,000 metric tons — down 95% from the same period last year, according to customs data.
Rainfall is moving through many of the driest areas of the western Corn Belt this week, with cooler-than-normal temperatures expected to follow. The forecast remains broadly supportive of early crop development across the Midwest.
Soybeans are slightly higher to begin the week as the market waits for developments on trade talks and EPA biofuel policy.
On Monday morning, USDA reported a private export sale of 145,000 metric tons of soybean cake and meal to the Philippines for 2024/2025 delivery.
In Argentina, heavy weekend rains dropped 6 to 10 inches in key soybean regions, causing flooding and raising concerns about potential quality issues for roughly half of the unharvested crop.
Wheat futures are rebounding Monday after hitting fresh contract lows last week.
Last week’s pressure came in part from the Kansas Wheat Quality Council tour, which reported a bearish yield estimate of 53.7 bushels per acre — the second highest on record.
Managed money funds have continued to pile onto the short side, pushing combined net short positions in Chicago and KC wheat to a record 204,000 contracts as of last Tuesday.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn prices are drifting lower at midday, pressured by rains in the forecast for much of next week across the Midwest.
Despite the needed rainfall next week, the overall weather outllook for June-August leans warm and dry according to the NOAA.
Conab raised their corn production estimate in Brazil by 2.2 mmt to 126.9 mmt for the 24/25 season.
French corn is now seen at 90% complete, which is well ahead of last year’s 70% finished at this time.
Soybeans continue to trade higher at midday, supported by drought conditions across the US soybean area. Drought conditions jumped 2% from last week to 17%, this compares to 9% of the US soybean area seeing drought conditions last year.
BAGE reported that Argentine’s soybean harvest improved 20% last week and now sits at 65% complete.
Yesterday’s NOPA crush was larger than anticipated at 190.226 mb and was the highest on record for the month of April.
Wheat remains weaker at midday, pressured by beneficial rains scheduled for next week and better production prospects for Kansas.
Estimated wheat yields in Kansas are 53 bpa, according to scouts on the Wheat Quality Council tour. Currently that estimate if realized would be the highest yield for the state since 2021.
About 73% of the French soft wheat crop is rated as good or very good according to FranceAgriMer.
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Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures are mixed at midday with old crop higher while new crop contracts are lower.
Corn futures have fallen to their lowest levels since November this week, pressured by rapid planting progress and favorable early-season weather across key U.S. growing regions.
U.S. corn export sales for the week ending May 8 totaled 66 million bushels (mb) for the 2024-25 marketing year and 20 mb for 2025-26. Shipments reached 55.6 mb, surpassing the 46.8 mb weekly pace needed to meet the USDA’s target of 2.6 billion bushels (bb).
Soybean futures are sharply lower at midday, following a steep drop in soybean oil futures, which are limit down.
Energy markets are under pressure after overnight reports suggested that Iran may be willing to abandon its nuclear weapons ambitions in exchange for the immediate lifting of sanctions — raising concerns about a potential surge in crude oil supply hitting the market.
In trade news, India has reportedly expressed willingness to eliminate all tariffs on U.S. goods as a bilateral trade agreement between the two nations moves closer to completion.
Wheat futures are slightly higher at midday, continuing to rebound from oversold conditions and firming off recent lows as the market corrects.
On day two of the Wheat Quality Council Tour in Kansas, scouts surveyed 211 fields between Colby and Wichita, reporting an average yield of 53.3 bushels per acre (bpa). That’s 2.8 bpa higher than day one and about 10 bpa above last year’s estimate, reflecting improved crop conditions in the region.
Northern Europe looks to be dry for the next two weeks and same story for China’s primary wheat areas, where drought has expanded.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures are edging higher at midday, supported by a recovery from oversold levels
The July-December calendar spread has narrowed significantly, moving from a 33-cent inverse at the end of April to a 1-cent carry early this morning. Futures have been under pressure recently due to expectations of sharply increased U.S. acreage, a faster-than-normal planting pace, and improving drought conditions.
Global corn ending stocks are projected to decline by an additional 10 million metric tons in 2025–26, despite increased production in both Brazil and the United States.
Soybean futures are mixed at midday as traders await direction near recent highs, with weather and trade developments likely to determine the next move.
Soybean planting in the U.S. is running well ahead of the 5-year average, with several more days of clear weather forecast before rains return to the Midwest.
Traders remain hopeful for progress on 45Z, favoring proposals that prioritize North American feedstocks and exclude foreign used cooking oil.
Winter wheat futures have rebounded at midday, following new contract lows reached yesterday. Support is coming from a weaker U.S. Dollar Index and value buyers entering the market at oversold levels.
Improving global weather conditions continue to pressure wheat prices, with wetter forecasts ahead for both Ukraine and Russia in the Black Sea region.
Wheat futures hit new contract lows again on Tuesday, with Minneapolis futures also closing at fresh contract lows.
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Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn remains weaker at midday as weather remains favorable for planting to continue to progress rapidly.
Yesterday’s Crop Progress report showed corn planting jumped 22% from last week to 62% complete. This also compares to 47% done at this time last year.
The USDA raised Brazil’s corn crop to 130 mmt, up from 126 mmt in their previous estimate.
Soybeans continue to trade lower at midday despite yesterday’s WASDE report, which showed friendly data.
Yesterday’s Crop Progress report showed soybean planting in the U.S. at 48% complete, compared to 30% last week and 34% done at this time a year ago.
Despite trade negotiations between the U.S. and China to back off tariffs for 90-days, a rising dollar is keeping Brazil more competitive for export business.
The wheat market is trying to bounce higher at midday but is still feeling pressure from a rising dollar which makes the U.S. less competitive on the world stage.
Yesterday’s Crop Progress report showed Spring wheat planting at 66% done compared to 44% last week. Winter wheat conditions are seen at 54% good-to-excellent, which compares to 51% good-to-excellent last week.
Weather outlook for the Plains states this week shows rainfall over the next week, which could boost conditions. However, in the Northern Plains, temperatures could reach up into the 90s followed by lows into the 30s this weekend.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures are modestly higher at midday, supported by strength in soybeans as traders await the USDA’s WASDE report.
The report is expected to lower 2024/25 ending stocks, with export projections likely revised higher — current pace suggests USDA may be 100 mb too low.
It will also offer the first look at 2025/26 balance sheets, with ending stocks projected near 2.0 billion bushels.
Warm, dry weekend weather supported rapid planting progress; a storm system is expected later this week across the Midwest.
Soybean futures rallied this morning with U.S. equities after the U.S. and China agreed to a 90-day tariff reprieve, easing trade tensions and slashing duties.
Today’s WASDE report is expected to show 2024/25 U.S. soybean ending stocks near 369 million bushels, 2025/26 at 362 million, and a 2025 crop projection of 4.338 billion bushels—slightly below last year’s output.
This afternoon’s Crop Progress report is likely to show soybean planting at 46%–49% complete, well ahead of the 5-year average of 37%, reflecting a strong pace amid favorable weather.
Wheat futures are trading slightly higher this morning, following strength in the broader commodity complex.
Today’s WASDE report is expected to show 2024/25 U.S. wheat ending stocks at 845 million bushels, down slightly from April, with initial 2025/26 stocks projected at 848 million.
Today’s crop progress report is expected to show winter wheat conditions improving by 1–2 points to 52%–53% good to excellent.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn continues to post gains at midday as traders look to reduce risk ahead of this weekend’s China talks and Monday’s USDA Supply and Demand report.
USDA reported 288,000 tons of corn sold to Mexico, 95,100 tons for the 24/25 year and 192,900 tons for the 25/26 year.
China has signed a deal with Argentine exporters to purchase corn, as it seeks alternative suppliers to the U.S.
The Buenos Aires Grain Exchange reported a 4% increase in Argentina’s corn rated in good/excellent condition, now at 42%.
U.S. corn area under drought was unchanged at 20% compared to 14% at this time last year.
Soybean markets continued to trade higher at midday, building on Thursday’s gains amid optimism that this weekend’s meeting with China could help de-escalate the ongoing tariff dispute. The entire soy complex is posting gains.
USDA reported another soybean sale to Pakistan of 120,000 tons for the 25/26 year.
Going into the weekend, any signs toward a trade agreement with the U.S. and China could encourage buyers back into the soy complex, however any deal that guarantees commitments from China to buy U.S. soybeans is not likely.
The soybean market will be most likely limited to any rally attempt as exports slow and a record soybean harvest out of South America continues.
Wheat prices turned red at midday as weather concerns reemerged, with dryness concerns once again affecting parts of the U.S., and drought persisting in other major wheat-producing regions.
The share of U.S. winter wheat under drought conditions fell by 1% to 22%, down from 28% at this time last year. Dry weather is expected to persist across the Grain Plains into next week, with some relief anticipated in the Dakotas by late next week.
Drought conditions are forecast to expand across the northern half of Europe’s wheat-growing regions through the end of the month. In China, dry weather is also expected to persist in the northern and northwestern wheat areas for at least the next 10 days.
With U.S.-China trade negotiations expected this weekend, any potential deal could support U.S. wheat markets, as China is facing a significant shortfall in its domestic wheat 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.
Corn prices have shifted lower at midday, pressured by favorable weather patterns over the next week to allow planting to progress further.
Weekly export sales for corn totaled 66 mb, which was above trade expectations. Year-to-date commitments are now at 2.378 billion bushels, up 27% from last year.
Ethanol production for the week ending May 2nd totaled 7.140 million barrels. Ending stocks came in at 25.191 million barrels.
Soybean futures remain firm at midday, supported by concerns over the timeline for a potential agreement to be made between US and China.
Weekly soybean export sales were in line with expectations at 14 mb. Year-to-date commitments total 1.753 billion bushels, which is 13% higher than a year ago.
LSEG has raised their US soybean production estimate by 1% to 117 mmt. The group cited a 500,000 acre increase and favorable weather conditions for rapid planting progress as the reason for the increase.
Wheat prices continue to trend lower at midday, pressured by precipitation chances in the Northwest Plains states next week.
Weekly export sales for wheat came in at 21 mb, which was above trade expectations. Year-to-date commitments total 787 mb, up 14% from last year.
LSEG raised their all-wheat production forecast for Canada to 36.5 mmt, which if realized would be 4.5% higher than last year’s production total.
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.
This morning’s trade announcement that U.S.-China negotiations will resume later this week continues to lift deferred corn contracts at midday, although nearby contracts have edged lower.
The latest forecast shows a clear planting window across much of the Midwest over the next seven days, with only limited rainfall expected in parts of Kansas and the Southeast.
A key export window for U.S. corn will likely remain open for at least another 45 days, as Ukrainian corn prices continue to trade well above those of U.S. offerings.
Ethanol production has slumped to 300 million gallons, down from 306 million the previous week; however. this is still up 5.7% YOY. There were 102 mb of corn used in this production process (or 14.55 mb per day). This is below the 15.06 mb needed to reach the USDA’s forecast of 5.50 bb.
Soybeans continue to show strength in midday trade, supported by overnight reports that the U.S. Treasury Secretary and U.S. Trade Representative will meet with a Chinese delegation later this week to begin trade negotiations. Soybeans and soybean meal are posting higher at midday, while soybean oil is trading mixed.
Soybean prices in Brazil and Argentina are now well below U.S. levels, contributing to a slowdown in U.S. export activity.
Brazil’s soybean harvest is expected to reach a record of 169 mmt or 6.21 bb, according to a report from consultant Michael Cordonnier. He also added that even though Argentina’s bean harvest has been delayed, yields are better than expected.
Brazilian farmers are expected to expand the soybean planted area by approximately 500,000 hectares in the 2025/26 season, which begins in September for key growing regions.
Wheat futures have turned mixed at midday, showing little reaction to the China trade news, as favorable weather conditions continue to erase the previously built-in weather premium.
Showers are moving across western Kansas this morning, with additional rainfall expected across the state over the next week. Meanwhile, Texas and Oklahoma are forecast to remain dry, allowing fields in those areas to finally dry out.
Crop stress remains a concern for wheat in China, as drought conditions persist across one-third of the country’s wheat-growing regions.
U.S. wheat continues to gain competitiveness in the global market, with Gulf hard red winter wheat now priced at a 25-cent discount compared to Russian 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.
Corn continues to trade mixed at midday. Planting progress is adding pressure to deferred contracts while the two front month contracts are up slightly after yesterday’s down day.
Yesterday’s Crop Progress report showed corn planting at 40% complete which compares to 24% last week and the 5-year average of 39%.
Agriculture group Celeres raised their total corn production outlook for Brazil from 134.6 mmt to 135.4 mmt. This compares to 129.2 mmt produced during the 2023/24 season.
Soybean futures remain weaker at midday, pressured by planting progress and favorable weather conditions.
Yesterday’s Crop Progress report showed soybean planting at 30% complete, which compares to 18% last week and the 5-year average of 23%.
Brazil’s soybean premiums have now fallen below US prices which now raises concerns that there could be a lack of demand for US soybeans.
Wheat is trending higher at midday, supported by weather concerns in Texas and Oklahoma which are expected to see more rainfall than is needed.
Yesterday’s Crop Progress report showed winter wheat ratings improved 2% from last week to 51% good-to-excellent. Spring wheat planting jumped 14% from last week to 44% complete but is 10% above the 5-year average at this time.
Russia’s IKAR has raised their wheat production forecast to 83.8 mmt, up from their earlier estimate of 82.5 mmt. IKAR also raised their Russian wheat export estimate to 41.3 mmt, up from their previous estimate of 40 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.
