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All prices as of 6:30 am Central Time

• Corn is trading higher to start the week following a trade agreement over the weekend between the US and China. Many traders are expecting a bearish WASDE report, but futures are already oversold and now have support of higher soybeans.
• Today at 11am central, the USDA will release its WASDE report, and trade expects US old crop ending stocks to fall to 1.444 bb which would be down 21 mb from April. This would likely come from an increase in exports.
• Friday’s CFTC report saw funds as sellers of corn in a big way. They sold 57,436 contracts which significantly reduced their net long position to just 13,893 contracts.

• Soybeans are trading significantly higher this morning following a meeting between Trump and China’s Xi this weekend in which they announced a deal, that each country would cut tariffs. The US will cut tariffs from 145% to 30%, and Beijing will cut tariffs to 10% from 125%.
• Today, the WASDE report will be released and trade expects the 2024/25 U.S. soybean carryout near 369 million bushels vs USDA’s 374, and 2025/26 at 362 million. The expected 2025 U.S. soybean crop is projected at 4.338 billion bushels, slightly below last year’s 4.366 billion.
• Friday’s CFTC report saw funds as sellers of soybeans by 16,332 contracts which left them with a net long position of 21,870 contracts. They sold 6,649 contracts of bean oil leaving them long 56,738 contracts, and sold 5,230 contracts of meal leaving them short 103,457 contracts.

• Wheat is mixed this morning with Chicago unchanged, KC higher, and Minneapolis lower. This quiet trade comes despite the sharp rally in soybeans and the announcement of the trade negotiations. The dollar surged after the announcement which could be pressuring wheat.
• Estimates for Today’s WASDE reports see the trade expecting the 2025/26 U.S. wheat carryout near 863 million bushels and projects the 2025 wheat crop at 1.885 billion bushels, down from last year’s 1.971 billion.
• Friday’s CFTC report saw funds as buyers of Chicago wheat by 7,681 contracts which decreased their net short position to 113,734 contracts. They sold 4,971 contracts of KC wheat which left them short 72,240 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 higher this morning and so far has taken back all of yesterday’s losses and then some. Yesterday’s export sales were encouraging and were padded by two separate flash sales.
• Yesterday, President Trump announced a trade agreement with the UK, part of which would reduce ethanol tariffs on British imports to 0%. This comes before another potential trade deal with China tomorrow.
• On Monday, the USDA will release its WASDE report, and trade expects US old crop ending stocks to fall to 1.444 bb which would be down 21 mb from April. This would likely come from an increase in exports.

• Soybeans are trading higher this morning ahead of a potential trade deal with China tomorrow. July futures remain rangebound and are sitting right at the 100-day moving average. Both soybean meal and oil are trading higher as well.
• Tomorrow, President Trump and President Xi will meet in  Geneva to discuss a potential trade deal, and ahead of this meeting, Trump has floated the idea of cutting tariffs on China from 145% to 80%.
• On Monday, the WASDE report will be released and trade expects the 2024/25 U.S. soybean carryout near 369 million bushels vs USDA’s 374, and 2025/26 at 362 million. The expected 2025 U.S. soybean crop is projected at 4.338 billion bushels, slightly below last year’s 4.366 billion.

• All three wheat classes are trading higher this morning with Chicago wheat leading the way following yesterday’s losses and a low of $5.25-1/2 in July.
• Yesterday’s export sales were better than normal at 562.7k tons. This compared to 310.3k last week and 447.1k a year ago at this time. Top destinations were unknown, South Korea, and Mexico.
• Estimates for Monday’s WASDE reports see the trade expecting the 2025/26 U.S. wheat carryout near 863 million bushels and projects the 2025 wheat crop at 1.885 billion bushels, down from last year’s 1.971 billion.

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 after a large bearish reversal yesterday that followed talks of the US and China meeting to discuss a trade deal. Later in the day, it was likely that traders felt doubt a deal would be struck and began selling.
• Estimates for today’s export sales report see corn sales in a range between 900k and 1,400k tons with an average guess of 1,133k tons. This would compare to 1,259k last week and 938k a year ago at this time.
• EU corn imports are up 10% year over year, while exports are down 46%. U.S. weather remains mixed — dry in the north and wet across the Delta and Southeast.

• Soybeans are trading higher this morning, but are still within their trading range that was formed on April 11. It may take a weather event to break prices out. Both soybean meal and oil are trading higher as well.
• Estimates for today’s export sales report see soybean sales in a range between 300k and 600k tons with an average guess of 450k tons. This would compare to 478k last week and 434k the prior year.
• In Monday’s USDA report, the trade expects the 2024/25 U.S. soybean carryout near 369 million bushels vs USDA’s 374, and 2025/26 at 362 million. The expected 2025 U.S. soybean crop is projected at 4.338 billion bushels, slightly below last year’s 4.366 billion.

• All three wheat classes are trading higher this morning, and July Chicago wheat has slowly been trending higher after making a new contract low on April 30. US soft wheat is now the cheapest in the world.
• Estimates for today’s export sales report see wheat sales in a range between 0 and 500k tons with an average guess of 317k tons. This would compare to 310k last week and 447k a year ago at this time.
• For Monday’s USDA report, the trade expects the 2025/26 U.S. wheat carryout near 863 million bushels and projects the 2025 wheat crop at 1.885 billion bushels, down from last year’s 1.971 billion.

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

• Talk of improved U.S.-China relations is supporting futures. Traders expect the 2024/25 U.S. corn carryout near 1,443 million bushels vs the USDA’s 1,465, and project the 2025/26 carryout at 2,020 million bushels. Expectations for the 2025 U.S. corn crop are around 15.76 billion bushels, compared to 14.87 billion last year.
• U.S. export corn prices are competitive at about $210/MT, compared to Ukraine at $250, Argentina at $212, and Ukraine September prices also near $210.
• EU corn imports are up 10% year over year, while exports are down 46%. U.S. weather remains mixed — dry in the north and wet across the Delta and Southeast.

• Soybeans are reacting to news of U.S./China talks.  Dalian soybean, soymeal, and soyoil futures were higher, while palm oil moved lower on seasonal production increases and softer exports.
• The trade expects the 2024/25 U.S. soybean carryout near 369 million bushels vs USDA’s 374, and 2025/26 at 362 million. For 2024/25, U.S. exports will be key. The expected 2025 U.S. soybean crop is projected at 4.338 billion bushels, slightly below last year’s 4.366 billion.
• EU oilseed imports are up 8% year over year, meal imports are up 11%, while vegetable oil imports are down 24%.

• July is trading near 5.43 and back-testing 200-day moving average resistance.
• The trade expects the 2025/26 U.S. wheat carryout near 863 million bushels and projects the 2025 wheat crop at 1.885 billion bushels, down from last year’s 1.971 billion. The Oklahoma crop tour estimated the 2025 crop at 101 million bushels, versus 108 million last year.
• There is talk that China purchased Canadian wheat, possibly due to opportunistic buying or concerns about dry weather in China. Meanwhile, some believe funds and commercials may be too bearish on wheat.

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

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

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

All prices as of 6:30 am Central Time

• Corn is mixed to start the day with the two front months trading higher while the deferred contracts trade lower. Yesterday, prices were pressured by falling crude oil values, and July corn posted the lowest close since December 2024.
• Yesterday’s Crop Progress report saw that the corn crop is now 40% planted which compares to 24% last week and the 5-year average of 39%. 11% of the crop is emerged which is on par with a year ago at this time.
• The US inspected 1,608k tons of corn for export last week which compared to 1,666k tons the previous week and 1,299k a year ago. Top destinations were Mexico, Japan, and Colombia.

• Soybeans are trading lower this morning following yesterday’s move lower on falling crude and soybean oil. July futures are now at support at the 100-day moving average and have not broken out of their trading range. Soybean meal is higher while bean oil is lower.
• Yesterday’s Crop Progress report saw that the soybean crop is 30% planted which compares to 18% last week and the 5-year average of 23%. 7% of the crop is emerged which compares the the average of 5%.
• The US inspected 324k tons of soybeans for export last week which compared to 458k the previous week and 358k a year ago at this time. Top destinations were Mexico, China, and Japan.

• Wheat is mixed to start the day with Chicago and KC wheat trading higher while Minneapolis is slightly lower. Winter wheat crop conditions were improved in yesterday’s report which is likely adding pressure.
• 44% of the spring wheat crop is planted which was below the average trade guess and compared to 30% a week ago. 13% of the crop is emerged which compares to the average of 9% at this time. Winter wheat conditions improved to 51% from 49% a week ago, and were also above the average trade guess.
• The US inspected 310k tons of wheat for export last week which compared to 649k the previous week and 339k a year ago. Top destinations were to Mexico, the Philippines, and South Korea.

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 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.

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