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All prices as of 6:30 am Central Time

• Corn is lower to start the week ahead of the planting progress report this afternoon in which trade expects a big jump in planting thanks to beneficial weather. Demand has been firm which has kept prices supported overall.
• Mexico is now set to become the top importer of US ag exports according to CoBank. Last year, ag exports to Mexico rose to 31.4 billion dollars.
• Friday’s CFTC report saw funds as sellers of corn as of April 29. They sold a whopping 41,476 contracts which lowered their net long position to 71,329 contracts.

• Soybeans are lower this morning but remain rangebound with futures hovering around the 200-day moving average. Pressure comes from weaker crude and palm oil prices after OPEC said it would likely increase crude production. Soybean meal is higher while soybean oil is lower.
• Palm oil reserves in Malaysia most likely increased the most since August 2023 as a result of increased production following a period of poor weather and floods which caused inventories to shrink. This has pressured soybean oil as well.
• Friday’s CFTC report saw funds as buyers of soybeans by 7,135 contracts which increased their net long position to 38,202 contracts. They bought 12,488 contracts of bean oil and sold 24,716 contracts of bean meal.

• Wheat is mixed to start the day with Chicago and KC wheat lower but Minneapolis wheat higher. Minneapolis wheat has been more supported as trade worries that the trade war with Canada will impact imports of Canadian wheat.
• The USDA attaché for Canada sees wheat production in the country increasing by 2% in 25/26 citing an increase in planted area for wheat, corn, and oats, and a decrease in planted acreage for barley.
• Friday’s CFTC report saw funds as sellers of Chicago wheat by 31,386 contracts which increased their net short position to 121,415 contracts. They sold 10,645 contracts of KC wheat which increased their net short position to 67,269 contracts.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading slightly higher this morning with support from yesterday’s export sales report that saw new sales of 39.9 million bushels which put total commitments at 90.7% of the export estimate with 18 weeks left in the marketing year.
• Yesterday, the USDA released the monthly grain crushings report which saw the total ethanol grind at 454.2 mb in March which was 2.8% lower than March the previous year.
• Mexico is now set to become the top importer of US ag exports according to CoBank. Last year, ag exports to Mexico rose to 31.4 billion dollars, and Canada has begun to shun US goods as retaliation towards the tariffs.

• Soybeans are higher to start the day but have still not broken out of their trading range which has hovered around the 200-day moving average since April 14. Soybean meal is trading higher while soybean oil has followed crude oil lower.
• Yesterday’s export sales were ok for soybeans at 478k tons which compared to 277k tons the previous week. Top destinations were to China, Mexico, and Germany.
•  The USDA’s monthly oilseed report saw soybean crushings at 206.6 million bushels in March which was 1.5% higher than the same time frame a year ago. Crude oil production was 2.9% higher than last year while crude and oil stocks were down 12.2% year over year.

• All three wheat classes are trading higher this morning and seem to be leading the way for corn and soybeans. Funds may finally be starting to unwind their very large net short position with prices oversold and too cheap compared to corn.
• Yesterday’s export sales were ok for wheat at 310k tons which compared to 227k tons last week. The top buyers were Nigeria, Colombia, and Thailand.
• The USDA attaché for Canada sees wheat production in the country increasing by 2% in 25/26 citing an increase in planted area for wheat, corn, and oats, and a decrease in planted acreage for barley.

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

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

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

All prices as of 6:30 am Central Time

• Corn futures are trading higher to start the day with July futures gravitating back to their 100-day moving average. Yesterday’s ethanol report was supportive, and good demand has been a bullish factor in general. There have been 50 deliveries against May corn so far.
• Estimates for today’s export sales report see corn sales in a range between 700k and 1,500k tons with an average guess of 1,000k. This would compare to 1,153k a week ago and 792k tons a year ago.
• The Buenos Aires Grain Exchange released their weekly crop report which showed the country 31.3% complete with the corn harvest. Production estimates for 24/25 were unchanged at 49.0 mmt.

• Soybeans are trading lower for the third consecutive morning but appear to have found some support at the 100-day moving average. Crude oil prices have continued to fall pressuring soybean oil. There have only been 6 deliveries against May soybeans so far.
• Estimates for today’s export sales report see soybean sales in a range between 150k and 550k tons with an average guess of 295k. This would compare to 277k last week and 421k tons a year ago.
• Weaker crude oil prices have begun to pressure soybean oil futures this week, eroding some of the recent strength driven by speculation over a favorable biofuel subsidy and increased demand following tariffs on China’s used cooking oil exports.

• Wheat is mixed this morning with Chicago and KC wheat trading higher while Minneapolis is slightly lower. Wheat has been struggling between declining winter wheat crop ratings and the quick planting pace of spring wheat.
• Estimates for today’s export sales report see wheat sales in a range between 0 and 400k tons with an average guess of 233k tons. This would compare to 227k last week and 387k a year ago.
• Heavy rainfall is expected across the central and southern U.S. over the next 10 days, with parts of Oklahoma and Texas at risk of flooding that could potentially damage the winter wheat crop.

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

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

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

All prices as of 6:30 am Central Time

• Corn futures are trading near unchanged this morning, stabilizing after yesterday’s first notice day selloff. The 10-day forecast remains favorable for planting across much of the Corn Belt, supporting continued fieldwork.
• Traders appear comfortable unwinding weather risk premium, as faster-than-normal planting progress and shrinking drought areas ease supply concerns.
• Corn demand and shipments remain strong, with last week’s export inspections totaling 65.1 million bushels, pushing cumulative exports to 1.610 billion bushels—362 million above last year’s pace.

• Soybeans are trading lower again this morning, extending losses from yesterday as strong planting progress and ongoing trade uncertainty continue to weigh on the market.
• Weaker crude oil prices have begun to pressure soybean oil futures this week, eroding some of the recent strength driven by speculation over a favorable biofuel subsidy and increased demand following tariffs on China’s used cooking oil exports.
• With this morning’s decline, July soybean futures have slipped back below the 200-day moving average—a key technical level that has acted as resistance for front-month contracts over the past two years.

• All three wheat classes are trading near unchanged this morning, following new contract lows earlier this week in both Chicago and Kansas City wheat.
• Heavy rainfall is expected across the central and southern U.S. over the next 10 days, with parts of Oklahoma and Texas at risk of flooding that could potentially damage the winter wheat crop.
• For the month so far Chicago wheat futures are down about 23 cents while Kansas City futures are down nearly 40 cents. 

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

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

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

All prices as of 6:30 am Central Time

• Corn futures are trading lower this morning after the crop progress report showed that the planting pace has been quick. The US dollar is higher as well which could be adding some pressure. Forecasts are favorable for planting over the next week.
• Yesterday’s crop progress report saw 24% of the corn crop planted as of last Sunday which is up from 12% last week and compares to the 5-year average of 22%. 5% of the crop has emerged which compares to the average of 4% at this time.
• Japan is reportedly considering purchasing more US corn as part of the trade negotiations with President Trump. While there has been an 80% decline in corn exports to China, other countries have picked up the slack keeping demand firm.

• Soybeans are trading lower along with corn as markets react to the good weather and fast planting pace seen so far this season. Yesterday’s export report saw that 3 cargoes of soybeans were headed to China which was supportive.
• Yesterday’s crop progress showed that 18% of the soybean crop is planted which compared to 3% last week and the 5-year average of 12%. In Illinois, soybean planting is further ahead than corn.
• The US dollar fell by 3% last week which impacted soybean trades in South America as US soybeans became relatively cheaper. This caused spot prices to decline both in South American and the US.

• All three wheat classes are trading higher this morning and have reversed after both Chicago and KC wheat made new contract lows yesterday. Export inspections yesterday were the largest since September which could be adding to support today.
• The spring wheat crop was 30% planted as of Sunday which compared to 21% last week and the 5-year average of 21%. 5% of the crop is emerged which is on par with the 5-year average.
• Winter wheat crop ratings were improved at 49% good to excellent which were up 4 points from last week and are on par with a year ago at this time. 27% of the crop is headed which is ahead of the 5-year average of 22%.

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

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

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

All prices as of 6:30 am Central Time

• Corn futures are trading lower this morning with futures dropping down to the 100-day moving average which has acted as support. Traders likely anticipate a big jump in planting progress in the report later today.
• Japan is reportedly considering purchasing more US corn as part of the trade negotiations with President Trump. While there has been an 80% decline in corn exports to China, other countries have picked up the slack keeping demand firm.
• Friday’s CFTC report saw funds as sellers of corn as of April 22. They sold 11,768 contracts which decreased their net long position to 112,805 contracts.

• Soybeans are trading lower as well to start the day along with the entire grain complex. The dollar is trading slightly higher, but pressure is likely coming from the fast planting pace. Both soybean meal and oil are trading lower.
• The US dollar fell by 3% last week which impacted soybean trades in South America as US soybeans became relatively cheaper. This caused spot prices to decline both in South American and the US.
• Friday’s CFTC report saw funds as buyers of soybeans by 4,898 contracts increasing their net long position to 31,067 contracts. They were buyers of 9,940 contracts of bean oil and sellers of 3,911 contracts of meal.

• All three wheat classes are trading lower to start the day with KC wheat making new contract lows this morning. Kansas received rain last week, and more rain is forecast next weekend in Texas, Oklahoma, and Kansas.
• Friday’s CFTC report saw funds as buyers of Chicago wheat by 6,510 contracts which left them short 89,929 contracts. They were sellers of KC wheat by 9,252 contracts which increased their short position to 56,624 contracts.
• In Ukraine, planting pace for wheat has slowed by 17% as a result of cold weather compared to last year at this time.

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

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

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

All prices as of 6:30 am Central Time

• Corn futures are trading higher this morning ahead of the weekend and have taken back most of the losses earlier in the week. Strong export demand has been supportive over the past two days.
• Yesterday’s export sales report was good for corn with 1,153k tons which compared to 1,572k tons last week. Top buyers were Japan, South Korea, and Mexico.
• The Buenos Aires Grain Exchange updated their crop progress showing that corn is now 29.7% harvested which was barely up from last week’s 28% completion. Production estimates remain unchanged at 49.0 mmt.

• Soybeans are trading higher this morning and are above the 200-day moving average after breaking out of their bull flag formation yesterday. Gains in soybean oil have led beans higher while bean meal is lower.
• Yesterday’s export sales report for soybeans was on the poor side at just 276.9k tons which compared to 736.6k a week ago. Top destinations were to Mexico, the Netherlands, and unknown destinations.
• Brazil is expected to export more soy to China and other countries in Europe, the Middle East, and Asia amid the trade war between the US and China. Brazil’s estimated soybean production is nearly 170 mmt.

• All three wheat classes are trading higher this morning with Minneapolis wheat leading the way followed by KC. May Chicago wheat is set to lose around 15 cents on the week at this point and was pressured by poor exports.
• Yesterday’s export sales report saw net cancellations for 24/25 and sales of 277k tons for new crop. This was significantly below last week’s sales. Primary destinations were to Japan, Vietnam, and Nigeria.
• In Ukraine, planting pace for wheat has slowed by 17% as a result of cold weather compared to last year at this time.

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

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

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

All prices as of 6:30 am Central Time

• Corn futures are trading higher this morning after the May contract closed lower for 4 consecutive days, finding support at the 100-day moving average yesterday and moving higher from there.
• Estimates for today’s export sales report see corn sales in a range between 800k and 1,400k tons with an average guess of 1,075k. This would compare to 1,572k last week and 1,561k last year. Export demand has been firm despite the lack of China as a buyer.
• EU corn imports are up 12% year-over-year at 16.8 MMT, while exports have fallen 46%. Meanwhile, one crop scout raised Brazil’s corn crop estimate to 127 MMT, up from 119 MMT last year.

• Soybeans are trading higher and are above the 200-day moving average that has been resistance. Neither the May or July contracts have managed to close above that level. Soybean meal is lower while bean oil is trading higher.
• Estimates for today’s export sales report see soybean sales in a range between 300k and 700k tons with an average guess of 463k. This would compare to 737k last week and 331k tons the previous year.
• USDA reports U.S. soybean planting at 8%, ahead of the 5% average. Some analysts think favorable corn weather could pull more acres away from soybeans, potentially trimming final soybean acreage.

• Wheat is mixed this morning with the front month in Chicago wheat slightly higher but the deferred months lower along with KC and Minneapolis wheat. Wheat futures have struggled as planting ramps up for spring wheat, and export demand remains sluggish.
• Estimates for today’s export sales report see wheat sales in a range between reductions of 50k tons and sales of 500k tons with an average guess of 263k tons. This would compare to 350k last week and 454k tons a year ago at this time.
• Rainfall in the U.S. South and East could stress the soft red winter (SRW) wheat crop, while EU models show potential rains for the dry U.S. Plains. Russia’s forecast calls for only scattered light showers.

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

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

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

All prices as of 6:30 am Central Time

• Dalian corn futures climbed on reports of drier weather in Northeast China, while rains across the Southern and Eastern U.S. could slow planting progress.
• USDA reports 12% of U.S. corn is planted, slightly ahead of the 10% average. Favorable spring weather could lead to a similar acreage increase as last year’s 1.4 million added acres from March to June—potentially pressuring December corn prices.
• EU corn imports are up 12% year-over-year at 16.8 MMT, while exports have fallen 46%. Meanwhile, one crop scout raised Brazil’s corn crop estimate to 127 MMT, up from 119 MMT last year.

• Managed funds are holding record short positions in soymeal futures, even as China’s Dalian futures for soybeans, soymeal, soyoil, and palm oil all traded higher overnight.
• USDA reports U.S. soybean planting at 8%, ahead of the 5% average. Some analysts think favorable corn weather could pull more acres away from soybeans, potentially trimming final soybean acreage.
• Support for July soybeans is coming from two angles: optimism that Trump’s final China tariffs may be softer than the previously floated 145%, and ongoing Chinese demand for Brazilian soybeans.

• Rainfall in the U.S. South and East could stress the soft red winter (SRW) wheat crop, while EU models show potential rains for the dry U.S. Plains. Russia’s forecast calls for only scattered light showers.
• EU wheat exports are down 34% from last year, and Russia’s wheat exports may land closer to 37 MMT—well below the USDA’s 44 MMT estimate and last year’s 55.5 MMT.
• USDA’s early 2024/25 wheat ending stocks show mixed changes: higher hard red winter (HRW) at 382M bu (vs. 274M ly), flat-to-lower SRW, white, and durum. Combined, total stocks are projected at 846M bu vs. 696M last year.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading slightly lower to start the day, but futures are maintaining their apparent bull flag pennant formation which could see a break to the upside. Yesterday’s weakness was due to a general risk-off day in outside markets and a drop in equity markets.
• Yesterday afternoon, the USDA released its Crop Progress report which saw corn plantings ahead of trade estimates. 12% of the crop is now planted which compares to the trade estimate of 10% and 4% a week ago. 2% of the crop is emerged which compares to the 5-year average of 2%.
• Yesterday’s export inspections report was good for corn with 1,703k tons inspected which compares to 1,830k the previous week and 1,661k tons a year ago. Top destinations were Mexico, Japan, and South Korea.

• Soybeans are trading higher to start the day but again have not been able to significantly break above the 200-day moving average. July futures have taken back all of yesterday’s losses at this point. Both soybean meal and oil are trading higher as well.
• Yesterday’s Crop Progress report saw that 8% of the soybean crop has been planted which compares to the average trade guess of 7% and 2% a week ago. Last year at this time, the crop was 7% planted, and the 5-year average pace is 5%.
• Yesterday’s export inspections were decent for soybeans at 551k tons which compared to 555k the previous week and 444k tons at this time a year ago. Top destinations were Egypt, Mexico, and China.

• Wheat is mixed to start the day with Chicago slightly lower but KC and Minneapolis trading higher. Futures sold off sharply yesterday along with the other grains and equity markets. Winter wheat crop ratings have fallen since last week.
• Yesterday’s Crop Progress saw spring wheat at 17% planted which compared to the trade guess of 13%, 7% a week ago, and the 5-year average of 12%. 2% is emerged which is on par with the average pace. Winter wheat crop conditions fell two points to 45% good to excellent, and 15% of the crop is headed.
• Yesterday’s export inspections were good for wheat at 510k tons which compared to 611k last week and 450k tons a year ago at this time. Top destinations were to Vietnam, Mexico, and the Philippines.

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

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