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Grain Market Insider Interactive Quote Board

• Corn is trading very quietly to start the day ahead of the supply and demand report sat 11am. December corn is up 1 cent at $4.20-1/2 while March is up 1-1/4 to $4.38-1/2.
• Trade estimates for Today’s report peg U.S. 2024/25 corn carryout at 1.311 billion bu (vs USDA’s 1.305) and 2025/26 at 2.011 billion bu (vs USDA’s 2.117), with crop size seen at 16.516 billion bu, below the USDA’s August estimate of 16.742.
• Yesterday’s export sales report saw corn sales increase 21.3 million bushels for 25/26 and none for 26/27. Last week’s export shipments to 27.1 mb were below the 55.3 mb needed. Top buyers were to Mexico, Japan, and unknown.

Corn Futures Consolidate: December corn futures continue to consolidate as traders await the monthly WASDE report on September 12. Prices are currently supported by the 50-day moving average. Technical resistance can be found near 430 through both the 100-day moving average and the July 7 price gap.

• Soybeans are unchanged to slightly higher with the November contract up 3/4 cent to $10.34-1/4 while March is up 1/4 cent to $10.68-1/4. October soybean meal is down $1.20 to $284.90 and October soybean oil is up 0.35 cents to 51.43 cents.
• Yesterday’s export sales report saw an increase of 19.9 mb for the 25/26 marketing year and none for 26/27. Top buyers were unknown, Taiwan, and Indonesia. Last week’s shipments of 8.6 mb were well below the 32.8 mb needed.
• Trade estimates for today’s report slightly undercut USDA figures, with U.S. 2024/25 soybean carryout seen at 328 million bu (vs USDA 330), 2025/26 at 288 million bu (vs USDA 290), and production at 4.271 billion bu (vs USDA 4.292).

Soybeans Hold at Support: Early August strength followed USDA’s 2.5 million acre cut to 2025 harvested area, propelling futures through major resistance and key moving averages near 10.30, now acting as support. On the upside, the 10.80 spring highs remain the next major technical hurdle, a level that has consistently capped rallies over the past year.

• All three wheat classes are weaker this morning with December Chicago wheat down 1 cent to $5.20-1/2 and December KC wheat down 3/4 cents to $5.09-1/4.
• Trade estimates for today’s report put 2025/26 U.S. wheat carryout at 865 million bu (vs USDA 869) and global ending stocks at 261.1 mmt (vs USDA 260.1).
• Yesterday’s export sales report saw wheat sales with an increase of 11.2 mb for the 25/26 marketing year. Top buyers were Japan, Indonesia, and the Philippines.

Chicago Wheat Range Bound: Wheat futures have remained relatively range bound between 519 and 534 following the August low and contract rollover. The first point of technical resistance is near 532 at the 50-day moving average.

KC Wheat Trends Sideways, Tests Lows: June’s rally briefly tested April highs near 580 before fading into month-end. The pullback left futures trading below the 50-day moving average, now key resistance on any rebound. Support is firm at the recent lows near 505, with secondary support at the May low around 500.

Spring Wheat Tests Support: Futures remain rangebound as harvest advances, holding early August lows near 580 support. On the upside, strong resistance sits just above 600 at clustered moving averages, with a secondary target near 650 if momentum builds.

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. 

Grain Market Insider Interactive Quote Board

• Corn is trading higher to start the day with December up 1-1/2 cents at $4.18-1/2 while March is up 1-1/4 at $4.35-3/4. Corn prices have moved higher since last months contract low amid fears of lower yield.
• Trade estimates for Friday’s report peg U.S. 2024/25 corn carryout at 1.311 billion bu (vs USDA’s 1.305) and 2025/26 at 2.011 billion bu (vs USDA’s 2.117), with crop size seen at 16.516 billion bu, below the USDA’s August estimate of 16.742.
• Estimates for today’s export sales report see corn sales in a range between 900k and 2,400k tons with an average guess of 1,583k tons. This would compare to 1,836k a week ago and 667k a year ago at this time.

Corn Futures Consolidate: December corn futures continue to consolidate as traders await the monthly WASDE report on September 12. Prices are currently supported by the 50-day moving average. Technical resistance can be found near 430 through both the 100-day moving average and the July 7 price gap.

• Soybeans higher to start the day after dropping to support levels at the 50-day moving average nearly every day for the past week but then bouncing higher off it. November soybeans are up 5-3/4 cents to $10.31 while October meal is up $0.50 to $284 and October bean oil is up 0.34 cents to 50.83 cents.
• Trade estimates slightly undercut USDA figures, with U.S. 2024/25 soybean carryout seen at 328 million bu (vs USDA 330), 2025/26 at 288 million bu (vs USDA 290), and production at 4.271 billion bu (vs USDA 4.292).
• Estimates for today’s export sales report see soybean sales in a range between 400k and 1,600k tons with an average guess of 950k. This would compare to 795k  last week and 1,474k a year ago.

Soybeans Hold at Support: Early August strength followed USDA’s 2.5 million acre cut to 2025 harvested area, propelling futures through major resistance and key moving averages near 10.30, now acting as support. On the upside, the 10.80 spring highs remain the next major technical hurdle, a level that has consistently capped rallies over the past year.

• All three wheat classes are weaker this morning with December Chicago wheat down 1-3/4 to $5.13-1/4 and December KC wheat down 2-1/2 cents to $5.04-1/2.
• Trade estimates for Friday put 2025/26 U.S. wheat carryout at 865 million bu (vs USDA 869) and global ending stocks at 261.1 mmt (vs USDA 260.1).
• Estimates for today’s export sales report see wheat sales between 300k and 650k tons with an average of 433k tons. This would compare to 318k last week and 465k a year ago at this time.

Chicago Wheat Range Bound: Wheat futures have remained relatively range bound between 519 and 534 following the August low and contract rollover. The first point of technical resistance is near 532 at the 50-day moving average.

KC Wheat Trends Sideways, Tests Lows: June’s rally briefly tested April highs near 580 before fading into month-end. The pullback left futures trading below the 50-day moving average, now key resistance on any rebound. Support is firm at the recent lows near 505, with secondary support at the May low around 500.

Spring Wheat Tests Support: Futures remain rangebound as harvest advances, holding early August lows near 580 support. On the upside, strong resistance sits just above 600 at clustered moving averages, with a secondary target near 650 if momentum builds.

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. 

Grain Market Insider Interactive Quote Board

• Corn is trading 1 to 2 cents lower this morning with December at $4.18 and March at $4.36. Last trading day for the September contract and the next USDA WASDE report are both this Friday.
• Trade estimates for Friday’s report peg U.S. 2024/25 corn carryout at 1.311 billion bu (vs USDA’s 1.305) and 2025/26 at 2.011 billion bu (vs USDA’s 2.117), with crop size seen at 16.516 billion bu, below the USDA’s August estimate of 16.742.
• Dalian and Black Sea corn prices were lower, reflecting higher global supply compared to last year.

Corn Futures Consolidate: December corn futures continue to consolidate as traders await the monthly WASDE report on September 12. Prices are currently supported by the 50-day moving average. Technical resistance can be found near 430 through both the 100-day moving average and the July 7 price gap.

• Soybeans are 2 to 3 cents lower with November at $10.28 and January at $10.48.
• Trade estimates slightly undercut USDA figures, with U.S. 2024/25 soybean carryout seen at 328 million bu (vs USDA 330), 2025/26 at 288 million bu (vs USDA 290), and production at 4.271 billion bu (vs USDA 4.292).
• Soyoil futures fell after news the Senate may block transferring Small Refinery Exemptions (SREs) to large refiners, while soymeal prices firmed on tightening Argentina crush margins and rising currency volatility.

Soybeans Hold at Support: Early August strength followed USDA’s 2.5 million acre cut to 2025 harvested area, propelling futures through major resistance and key moving averages near 10.30, now acting as support. On the upside, the 10.80 spring highs remain the next major technical hurdle, a level that has consistently capped rallies over the past year.

• Wheat markets are mostly steady this morning with December Chicago up 1/2 cent to $5.2075, December Kansas City up 3/4 cent to $5.11 and December Mpls down 1 cent to $5.73.
• The market is watching upcoming 2026 Southern Hemisphere crops and Russian export volumes and pricing as next key inputs.
• Trade estimates for Friday put 2025/26 U.S. wheat carryout at 865 million bu (vs USDA 869) and global ending stocks at 261.1 mmt (vs USDA 260.1).

Chicago Wheat Range Bound: Wheat futures have remained relatively range bound between 519 and 534 following the August low and contract rollover. The first point of technical resistance is near 532 at the 50-day moving average.

KC Wheat Trends Sideways, Tests Lows: June’s rally briefly tested April highs near 580 before fading into month-end. The pullback left futures trading below the 50-day moving average, now key resistance on any rebound. Support is firm at the recent lows near 505, with secondary support at the May low around 500.

Spring Wheat Tests Support: Futures remain rangebound as harvest advances, holding early August lows near 580 support. On the upside, strong resistance sits just above 600 at clustered moving averages, with a secondary target near 650 if momentum builds.

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. 

Grain Market Insider Interactive Quote Board

• Corn is trading slightly lower this morning with December down 1 cent to $4.20-3/4 and March is also trading one cent lower to $4.38-1/2. The grain complex is quiet again today ahead of Friday’s WASDE.
• Yesterday’s Crop Progress report saw corn ratings down 1 point from last week at 68% good to excellent, but this was higher than the trade estimate. 95% of the crop is in dough stage, 74% is dented, and 25% is mature.
• Estimates for Friday’s WASDE report see 25/26 ending stocks for corn around 2.013 billion bushels which would be down 104 mb from last month. Yield is expected to decline to 186 bpa.

Corn Futures on the Move Higher: The roll from September to December brought renewed strength, with December futures closing last week above the 50-day moving average. The July 4th gap near 413 has now been filled, and the next upside target is 430. On the downside, the 50-day average stands as key support, with a break opening the door to the gap below 400.

• Soybeans are completely unchanged to start the day with November at $10.33-3/4 and March at $10.68. October bean meal is up $1.70 to $238.60 and October bean oil is up 0.05 cents to 51.03 cents.
• The Crop Report saw soybean ratings fall by one point to 64% good to excellent but this was 1 point above the trade guess. 97% of the crop is setting pods and 21% is dropping leaves.
• Estimates for the WASDE report see 25/26 ending stocks slightly lower to unchanged at 287 mb while 24/25 ending stocks are expected to be unchanged. Yield is projected 0.4 bpa lower at 53.2 bpa.

Soybeans Hold at Support: Early August strength followed USDA’s 2.5 million acre cut to 2025 harvested area, propelling futures through major resistance and key moving averages near 10.30, now acting as support. On the upside, the 10.80 spring highs remain the next major hurdle, a level that has consistently capped rallies over the past year.

• All three wheat classes are lower to start the day with December Chicago wheat down 1/2 cent to $5.23-1/4 while December KC wheat is down 2-1/2 cents to $5.14-3/4. Yesterday, KC wheat led the complex higher.
• Yesterday’s Crop Progress report saw that the spring wheat harvest is now 85% complete which is one point above the 5-year average. The winter wheat crop is now 5% planted which compares to the 5-year average of 6% for this time of year.
• Estimates for Friday’s report see both the 24/25 and 25/26 ending stocks basically unchanged with the first at 863 mb. World ending stocks are expected to increase slightly.

Chicago Wheat Below Moving Averages: June’s rally quickly faded, with futures retreating toward the upper end of their 2025 range. Initial support is just above 500 at the early-August low. On the upside, a weekly close above 558 would confirm renewed strength and set up a potential retest of the 590 highs.

KC Wheat Trends Sideways, Tests Lows: June’s rally briefly tested April highs near 580 before fading into month-end. The pullback left futures trading below the 50-day moving average, now key resistance on any rebound. Support is firm at the recent lows near 505, with secondary support at the May low around 500.

Spring Wheat Tests Support: Futures remain rangebound as harvest advances, holding early August lows near 580 support. On the upside, strong resistance sits just above 600 at clustered moving averages, with a secondary target near 650 if momentum builds.

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. 

Grain Market Insider Interactive Quote Board

• Corn is trading lower this morning, but the grain complex is quiet overall ahead of Friday’s WASDE report. December corn futures are down 2 cents at $4.16 and March is down 2 cents at $4.34-1/2. 
• The export sales report saw corn sales at 1,836k tons which was down from the previous week’s 2,072k and compared to 1,649k a year ago. Top buyers were Mexico, Colombia, and Japan.
• Friday’s CFTC report saw funds as buyers of corn. They bought back 19,199 contracts which reduced their net short position to 91,487 contracts. They might be buying back corn over fears of a yield cut this week.

Corn Futures on the Move Higher: The roll from September to December brought renewed strength, with December futures closing last week above the 50-day moving average. The July 4th gap near 413 has now been filled, and the next upside target is 430. On the downside, the 50-day average stands as key support, with a break opening the door to the gap below 400.

• Soybeans are trading mixed this morning with gains in the front months and slight losses in deferred. November soybeans are up by 1 cent to $10.28 while March is up 3/4 cent to $10.61-1/2. October soybean meal is up $0.50 to $281 and October bean oil is up 0.54 cents to 51.35 cents.
• Export sales for soybeans were on the poor side at 795k tons which was down from 1,183k the previous week and 1,431k tons a year ago. Top buyers were unknown, Vietnam, and Japan.
• Friday’s CFTC report saw funds as sellers of soybeans by 8,854 contracts which reduced their net long position to 11,964 contracts. They sold 14,542 contracts of bean oil and sold 27,811 contracts of meal.

Soybeans Hold at Support: Early August strength followed USDA’s 2.5 million acre cut to 2025 harvested area, propelling futures through major resistance and key moving averages near 10.30, now acting as support. On the upside, the 10.80 spring highs remain the next major hurdle, a level that has consistently capped rallies over the past year.

• All three wheat classes are trading higher this morning with the December Chicago wheat contract up 1 cent to $5.20-1/4 while December KC wheat is up 1-3/4 cents to $5.07-1/4. Wheat is about 6 cents off its contract low from last week.
• Export sales for wheat were on the slow side at 319k tons which was down from 580k the week before and 330k a year ago at this time. Top buyers were Nigeria, Mexico, and the Philippines.
• Friday’s CFTC report saw funds as sellers of Chicago wheat by 356 contracts which left them with a net short position of 81,943 contracts. They sold 6,000 contracts of KC wheat leaving them short 54,681 contracts.

Chicago Wheat Below Moving Averages: June’s rally quickly faded, with futures retreating toward the upper end of their 2025 range. Initial support is just above 500 at the early-August low. On the upside, a weekly close above 558 would confirm renewed strength and set up a potential retest of the 590 highs.

KC Wheat Trends Sideways, Tests Lows: June’s rally briefly tested April highs near 580 before fading into month-end. The pullback left futures trading below the 50-day moving average, now key resistance on any rebound. Support is firm at the recent lows near 505, with secondary support at the May low around 500.

Spring Wheat Tests Support: Futures remain rangebound as harvest advances, holding early August lows near 580 support. On the upside, strong resistance sits just above 600 at clustered moving averages, with a secondary target near 650 if momentum builds.

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. 

Grain Market Insider Interactive Quote Board

• Corn is trading higher this morning after yesterday prices dropped to support at the 50-day moving average. December corn is up 2-1/4 cents to $4.22 while March is up 2 cents to 4.39-1/2.
• US ethanol stocks rose by 0.1% to 22.564 m bbl which was up from expectations of 22.442m. Plant production was higher at 1.075 million barrels per day which was also above the survey average of 1.067m.
• Estimates for todays’ export sales report see corn sales in a range between 900k and 2,200k tons with an average guess of 1,383k tons. This would compare to 2,072k a week ago and 1,649k a year ago at this time.

Corn Futures Bounce From August Lows: Corn futures showed renewed strength with the front-month roll from September to December, closing last week above the 50-day moving average. The July 4th gap near 413 has been filled, with the next upside target at 430. On the downside, the 50-day average is key support, with a break exposing the gap below 400.

• Soybeans are trading higher this morning following yesterday’s reversal higher. November soybeans are up 2 cents at $10.35 while March is also up 2 cents trading at $10.68-3/4. October bean meal is up $2.00 at $282.10 while October bean oil is up 0.25 cents at 51.76 cents.
• StoneX has revised their estimates for the 25/26 soybean yield lower to 53.2 bpa. This would be slightly below the USDA’s estimate but is on par with Allendale’s last guess of 53.28 bpa. Production is estimated at 4,257 mb.
• Estimates for today’s export sales report see soybean sales in a range between 500k and 1,600k tons with an average guess of 900k tons. This would compare to 1,183k last week and 1,431k a year ago at this time.

Soybeans Eye Spring Highs: Soybean futures surged in early August after USDA cut 2025 harvested area by 2.5 million acres. Prices broke through heavy resistance and key moving averages around 10.30, which now act as support on pullbacks. On the upside, the next major resistance is at the spring highs near 10.80, a level that has repeatedly capped rallies over the past year.

• All three wheat classes are trading higher this morning and have rebounded after yesterday Chicago wheat made a new contract low. December Chicago wheat is up 3-3/4 cents to $5.23-1/4 while December KC wheat is up 3 cents to $5.09-1/4.
• Russia has reportedly harvested 100 mmt of grain so far with expectations that total production will reach at least 135 mmt. Wheat production in Russia has exceeded expectations which has pressured the market.
• Estimates for today’s export sales report see wheat sales in a range between 350k and 700k tons with an average guess of 492k tons. This would compare to 580k a week ago and 330k tons a year ago at this time.

Chicago Wheat Holds Range: Chicago wheat’s mid-June rally was short-lived, with futures retreating back toward the upper end of their 2025 trading range. Initial support lies just above 500, the early-August low. On the upside, a weekly close above 558 would signal renewed strength and open the door for a retest of the recent highs near 590. 

KC Wheat Continues Sideways Trend: KC wheat futures rallied sharply in June, briefly testing the April highs near 580 before weakening into month-end. The pullback pushed prices below the 50-day moving average, which now stands as key resistance on any rebound. Support is first seen at the recent lows near 505, followed by secondary support at the May low around 500.

Spring Wheat Holds Below Moving Averages: Spring wheat futures faced pressure in July as crop conditions improved and weather turned favorable across key growing areas. While August has seen some support, gains remain limited. Technically, strong resistance sits just above 600 at a cluster of major moving averages, with a secondary target near 650 if momentum strengthens. On the downside, recent lows around 580 are expected to provide solid support against further weakness.

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. 

Grain Market Insider Interactive Quote Board

• Corn is trading slightly lower again this morning but has held relatively firm as soybeans and wheat sell off. December corn is down 3/4 cents to $4.17-1/2 while March is down 1/4 cent to $4.35-3/4.
• Estimates for the weekly EIA report see ethanol production lower than last week at 1.067 million barrels per day, and the average stockpile estimate is 22.442m bbl compared to 22.549m a week ago.
• Private analyst firm Allendale released an estimate for corn production yesterday of 16.63 billion bushels with a yield of 187.52 bpa. This is much closer to the USDA estimate rather than ProFarmers 182.3 bpa.

Corn Futures Bounce From August Lows: Corn futures showed renewed strength with the front-month roll from September to December, closing last week above the 50-day moving average. The July 4th gap near 413 has been filled, with the next upside target at 430. On the downside, the 50-day average is key support, with a break exposing the gap below 400.

• Soybeans are lower again this morning and are on track for a third consecutively lower close. Prices are at support at the 200-day average. November soybeans are down 5-3/4 cents to $10.25-3/4, October soybean meal is down $0.40 to $277.20, and October bean oil is down 0.24 cents to 51.20 cents.
• Yesterday, Allendale projected that the national soybean yield would come in near 53.28 bpa with production at 4.27 bb. This would be slightly below the USDA estimate.
• US soybean crushings were seen at 204.8 million bushels in July which was up 5.9% from the same period last year and above June crushings of 196.9 mb. The increase in crush is creating a large supply of meal which weighs on prices.

Soybeans Eye Spring Highs: Soybean futures surged in early August after USDA cut 2025 harvested area by 2.5 million acres. Prices broke through heavy resistance and key moving averages around 10.30, which now act as support on pullbacks. On the upside, the next major resistance is at the spring highs near 10.80, a level that has repeatedly capped rallies over the past year.

• All three wheat classes are trading lower to start the day. December Chicago wheat is down 6-3/4 cents at $5.15-1/4 while December KC is down 5-3/4 cents to $5.04-1/2. 
• SovEcon raised their 25/26 Russian wheat export forecast to 43.7MMT from 43.3MMT noting better crop prospects, but quality issues are a concern and may impact yields.
• The Crop Progress report saw the spring wheat harvest 72% complete as of Sunday which is up from 53% the previous week and the 5-year average of 69%. 

Chicago Wheat Holds Range: Chicago wheat’s mid-June rally was short-lived, with futures retreating back toward the upper end of their 2025 trading range. Initial support lies just above 500, the early-August low. On the upside, a weekly close above 558 would signal renewed strength and open the door for a retest of the recent highs near 590. 

KC Wheat Continues Sideways Trend: KC wheat futures rallied sharply in June, briefly testing the April highs near 580 before weakening into month-end. The pullback pushed prices below the 50-day moving average, which now stands as key resistance on any rebound. Support is first seen at the recent lows near 505, followed by secondary support at the May low around 500.

Spring Wheat Holds Below Moving Averages: Spring wheat futures faced pressure in July as crop conditions improved and weather turned favorable across key growing areas. While August has seen some support, gains remain limited. Technically, strong resistance sits just above 600 at a cluster of major moving averages, with a secondary target near 650 if momentum strengthens. On the downside, recent lows around 580 are expected to provide solid support against further weakness.

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. 

Grain Market Insider Interactive Quote Board

• Corn is trading slightly lower to start the day with the December contract down 1-1/4 cents to $4.21-3/4 while March is down 1 cent to $4.39-3/4. Yesterday, corn prices remained firm despite sell-offs in the other grain markets.
• Demand for US corn is pushing record start to the marketing year.  Current corn export sales on the books are the second best in the past 25 years.  Another strong week of sales this week could like make the 2025-26 ,marketing year the strongest start ever, eclipsing the 2021-22 marketing year.
• Yesterday’s Crop Progress report saw corn ratings fall by 2 points from last week to 69% good to excellent. 90% of the crop is in dough stage, 58% is dented, and 15% of the crop is mature.

Corn Futures Bounce From August Lows: Corn futures showed renewed strength with the front-month roll from September to December, closing last week above the 50-day moving average. The July 4th gap near 413 has been filled, with the next upside target at 430. On the downside, the 50-day average is key support, with a break exposing the gap below 400.

• Soybeans are starting the day lower again today with November down 1-1/2 cents to $10.39-1/2 while March is down 1-1/2 cents as well to $10.73-1/2. October meal is down $0.60 to $277.70 and October bean oil is down 0.44 cents to 51.83 cents.
• US soybean crushings were seen at 204.8 million bushels in July which was up 5.9% from the same period last year and above June crushings of 196.9 mb. The increase in crush is creating a large supply of meal which weighs on prices.
• Soybean crop ratings fell by more than expected from last week, dropping 4 points to 65% good to excellent. 94% of the crop is setting pods and 11% is dropping leaves.

Soybeans Eye Spring Highs: Soybean futures surged in early August after USDA cut 2025 harvested area by 2.5 million acres. Prices broke through heavy resistance and key moving averages around 10.30, which now act as support on pullbacks. On the upside, the next major resistance is at the spring highs near 10.80, a level that has repeatedly capped rallies over the past year.

• Wheat is mixed to start the day with Chicago and Minn lower but KC slightly higher. December Chicago wheat is down 1/4 cent at $5.28 while December KC is up 1-1/4 cents to $5.12-1/2. Yesterday’s export inspections were decent for wheat.
• SovEcon raised their 25/26 Russian wheat export forecast to 43.7MMT from 43.3MMT noting better crop prospects, but quality issues are a concern and may impact yields.
• The Crop Progress report saw the spring wheat harvest 72% complete as of Sunday which is up from 53% the previous week and the 5-year average of 69%. 

Chicago Wheat Holds Range: Chicago wheat’s mid-June rally was short-lived, with futures retreating back toward the upper end of their 2025 trading range. Initial support lies just above 500, the early-August low. On the upside, a weekly close above 558 would signal renewed strength and open the door for a retest of the recent highs near 590. 

KC Wheat Continues Sideways Trend: KC wheat futures rallied sharply in June, briefly testing the April highs near 580 before weakening into month-end. The pullback pushed prices below the 50-day moving average, which now stands as key resistance on any rebound. Support is first seen at the recent lows near 505, followed by secondary support at the May low around 500.

Spring Wheat Holds Below Moving Averages: Spring wheat futures faced pressure in July as crop conditions improved and weather turned favorable across key growing areas. While August has seen some support, gains remain limited. Technically, strong resistance sits just above 600 at a cluster of major moving averages, with a secondary target near 650 if momentum strengthens. On the downside, recent lows around 580 are expected to provide solid support against further weakness.

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. 

Grain Market Insider Interactive Quote Board

• Technical buying and short covering have supported the corn market into the end of August.  December corn futures finished the month trading higher on Friday’s close.  The first positive month since May.  An improved technical picture should keep buyers active.  Dec corn futures have traded higher 5 out of the 6 years in the month of September.
• Current dry weather forecasts and disease concern have the market pricing in a small overall crop compared to the USDA August forecast.  With the strong export demand the feeling of the corn supply picture tightening overall is supporting the market.
• Demand for US corn is pushing record start to the marketing year.  Current corn export sales on the books are the second best in the past 25 years.  Another strong week of sales this week could like make the 2025-26 Marketing year the strongest start ever, eclipsing the 2021-22 marketing year.

Corn Futures Show Signs of Life: With the front-month roll from September to December, corn has shown renewed strength. Prices rallied to close last week above the 50-day moving average, a constructive signal. Early this week, corn filled the post–July 4th gap near 413, with the next upside target seen at the gap near 430. On the downside, the 50-day average serves as initial support, while a break could expose the gap below 400.

• Lack of a potential trade deal with China from this past week of negotiations is pressuring the market and Chinese buyer look to Brazil, Argentina, and Uruguay for soybean supplies in the window they typically buy US soybeans.
• Dry weather forecast support the soybean market as areas on the corn belt have seen there driest August in over 100 years.  The poor finishing weather will likely limit the potential final crop size as harvest approaches.
• Despite the lack of Chinese soybean exports sales, purchases of US soybeans by non-China  buyers are off to a strong start.  Reported sales excluding China and Unknown destinations are off to the strongest start since 2018-19 as other countries have sources soybeans from the United States.  Regardless, US still will need Chinese purchases to hit projected export targets for the 2025-26 marketing year.

Soybeans Eye Spring Highs: Soybean futures surged in early August after USDA cut 2025 harvested area by 2.5 million acres. Prices broke through heavy resistance and key moving averages around 10.30, which now act as support on pullbacks. On the upside, the next major resistance is at the spring highs near 10.80, a level that has repeatedly capped rallies over the past year.

• Wheat is trading lower following the long weekend with December Chicago wheat down 9-1/2 cents to $5.24-3/4 while Dec KC wheat is down 9 cents at $5.10-3/4. Larger Russian production may be pressuring wheat.
• Friday’s CFTC report saw funds as buyers of wheat. They bought back 23,528 contracts of Chicago wheat reducing their net short position to 81,587 contracts. They bought back 2,699 contracts of KC wheat leaving them short 48,681 contracts.
• SovEcon raised their 25/26 Russian wheat export forecast to 43.7MMT from 43.3MMT noting better crop prospects, but quality issues are a concern and may impact yields.

Chicago Wheat Holds Range: Chicago wheat’s mid-June rally was short-lived, with futures retreating back toward the upper end of their 2025 trading range. Initial support lies just above 500, the early-August low. On the upside, a weekly close above 558 would signal renewed strength and open the door for a retest of the recent highs near 590. 

KC Wheat Continues Sideways Trend: KC wheat futures rallied sharply in June, briefly testing the April highs near 580 before weakening into month-end. The pullback pushed prices below the 50-day moving average, which now stands as key resistance on any rebound. Support is first seen at the recent lows near 505, followed by secondary support at the May low around 500.

Spring Wheat Holds Below Moving Averages: Spring wheat futures faced pressure in July as crop conditions improved and weather turned favorable across key growing areas. While August has seen some support, gains remain limited. Technically, strong resistance sits just above 600 at a cluster of major moving averages, with a secondary target near 650 if momentum strengthens. On the downside, recent lows around 580 are expected to provide solid support against further weakness.

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. 

Grain Market Insider Interactive Quote Board

• Corn is trading higher to start the day following yesterday’s first notice day for September contracts. September is currently trading 3-1/2 cents higher at $3.89 while December is up 2 cents at $4.12.
• Yesterday’s export sales report saw corn sales strong but fall from last week at 2,072k tons. This compared to 2,833k last week and 1,509k a year ago. Top destinations were to Mexico, Colombia, and unknown.
• The ProFarmer tour brought up disease in the crop multiple times, and farmers who are finding corn rust are reporting heavy cases of it. This could cut effected yields by 20-40%.

Corn Futures Show Signs of Life: With the front-month roll from September to December, corn has shown renewed strength. Prices rallied to close last week above the 50-day moving average, a constructive signal. Early this week, corn filled the post–July 4th gap near 413, with the next upside target seen at the gap near 430. On the downside, the 50-day average serves as initial support, while a break could expose the gap below 400.

• Soybeans are trading lower this morning apart from the September contract which is in delivery and is up 3 cents at $10.31-1/4. The November contract is down 5-1/4 cents to $10.42-3/4, October soybean meal is down $1.00 at $281.90 and October soybean oil is down 0.44 cents at 51.51 cents.
• Analysts are estimating that the USDA soybean crush will come in around 207 million bushels for July. If this number is realized, the crush would be up 5.1% from the 197.1 mb processed in June and up 7.2% from July 2024.
• Yesterday’s export sales report saw soybean sales increase from last week to 1,183k tons from 1,137k last week and 2,472k tons a year ago. Top buyers were unknown, Mexico, and Taiwan.

Soybeans Eye Spring Highs: Soybean futures surged in early August after USDA cut 2025 harvested area by 2.5 million acres. Prices broke through heavy resistance and key moving averages around 10.30, which now act as support on pullbacks. On the upside, the next major resistance is at the spring highs near 10.80, a level that has repeatedly capped rallies over the past year.

• Wheat is mixed this morning with Chicago unchanged and KC and Minneapolis lower. December Chicago wheat is unchanged at $5.29 while December KC is down 1/2 cent at $5.15-1/4.
• Yesterday’s export sales saw wheat sales fall to 1,183k tons from 1,137k tons last week. This compared to 498k tons a year ago. Top buyers were Vietnam, Nigeria, and Mexico.
• The Canadian wheat crop for 25/26 was seen rising to 35.5 mmt from previous estimates of 34.2 mmt according to Bloomberg. Canola production is seen 4.6% higher.

Chicago Wheat Holds Range: Chicago wheat’s mid-June rally was short-lived, with futures retreating back toward the upper end of their 2025 trading range. Initial support lies just above 500, the early-August low. On the upside, a weekly close above 558 would signal renewed strength and open the door for a retest of the recent highs near 590. 

KC Wheat Continues Sideways Trend: KC wheat futures rallied sharply in June, briefly testing the April highs near 580 before weakening into month-end. The pullback pushed prices below the 50-day moving average, which now stands as key resistance on any rebound. Support is first seen at the recent lows near 505, followed by secondary support at the May low around 500.

Spring Wheat Holds Below Moving Averages: Spring wheat futures faced pressure in July as crop conditions improved and weather turned favorable across key growing areas. While August has seen some support, gains remain limited. Technically, strong resistance sits just above 600 at a cluster of major moving averages, with a secondary target near 650 if momentum strengthens. On the downside, recent lows around 580 are expected to provide solid support against further weakness.

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.