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All prices as of 6:30 am Central Time

• Corn is trading lower to start the day following losses on Friday that have seen March futures rolling over after briefly exceeding the 5-dollar mark. Pressure is coming from the decision on 25% tariffs for Canada and Mexico that had been pushed off for 30 days.
• US ethanol stocks rose by 2% according to last week’s report to 26.218m bbl, ands analysts were expecting 25.731m. Plant production came in at 1.084m b/d compared to the survey average of 1.078m.
• Friday’s CFTC report showed funds as buyers of corn by 21,144 contracts which increased their net long position to 353,533 contracts bringing them closer to their record net long position.

• Soybeans are trading lower this morning but remain in a tight range that began on February 12. Both soybean meal and oil are lower as well as lower wheat drags down both corn and soybeans.
• Agroconsult has cut their estimate for the Brazilian soybean crop by 1.1 mmt but the new estimate is still a record at 171.3 mmt. This would be 15.8 mmt higher than last year’s crop with the center North region making up most of the gains.
• Friday’s CFTC report saw funds as sellers of soybeans by 11,949 contracts leaving them net long 16,526 contracts. They were buyers of soybean oil but sellers of soybean meal.

• All three wheat classes are trading lower this morning and are on track for a third lower close out of the past 4 trading sessions. Temperatures across the Midwest are expected to rise which trade views as bearish.
• In France, 2025 wheat plantings are up 10% on improved weather with 6.35 million hectares of winter grains planted for the 2025 harvest. This is up 7.2% from last year’s plantings.
• Friday’s CFTC report saw funds as buyers of Chicago wheat by 21,232 contracts leaving them net short 61,577 contracts. They were buyers of KC wheat by 8,158 contracts leaving them net short 22,090 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 lower this morning after posting slight gains yesterday. March futures are now 7 cents off their recent high, and are technically overbought. First notice day for March futures is 2/28.
• Estimates for today’s export sales report see corn sales in a range between 900k and 1,700k tons with an average guess of 1,375k tons. This would compare to 1,999k a week ago and 998k a year ago at this time.
• US ethanol stocks rose by 2% according to yesterday’s report to 26.218m bbl, ands analysts were expecting 25.731m. Plant production came in at 1.084m b/d compared to the survey average of 1.078m.

• Soybeans are trading lower this morning after higher trade yesterday, but prices have been rangebound over the past week and have been unable to rally significantly due to slipping demand. Both soybean meal and oil are lower.
• Estimates for today’s export sales report see soybean sales in a range between 100k and 500k tons with an average guess of 317k tons. This would compare to 210k last week and 56k a year ago.
• Agroconsult has cut their estimate for the Brazilian soybean crop by 1.1 mmt but the new estimate is still a record at 171.3 mmt. This would be 15.8 mmt higher than last year’s crop with the center North region making up most of the gains.

• All three wheat classes are trading higher this morning with Chicago wheat leading the way higher. Wheat futures have been trending higher since the end of December as winter kill in the US concerns traders.
• Estimates for today’s export sales report see wheat sales in a range between 300k and 600k tons with an average estimate of 472k tons. This would compare to 606k last week and 280k a year ago.
• In France, 2025 wheat plantings are up 10% on improved weather with 6.35 million hectares of winter grains planted for the 2025 harvest. This is up 7.2% from last year’s plantings.

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 is back above the 5-dollar mark in March after sliding at yesterday’s close to $4.97. Yesterday, prices were likely brought lower by the large correction in the wheat complex.
• Weather in South America has improved with more significant rains in Argentina and a mix of rain and sun in Brazil. The safrinha corn plantings in Brazil are estimated at 36% complete.
• Estimates for the Weekly EIA report see ethanol production lower than last week at 1.078m barrels per day while stockpiles are estimated at 25.731m bbl which would compare to 25.692m a week ago.

• Soybeans are trading higher this morning after selling off at yesterday’s close and was driven by soybean oil which led soybeans higher to start the day but collapsed after meeting resistance. Soybean meal is lower today while bean oil is higher.
• Agroconsult has cut their estimate for the Brazilian soybean crop by 1.1 mmt but the new estimate is still a record at 171.3 mmt. This would be 15.8 mmt higher than last year’s crop with the center North region making up most of the gains.
• In Argentina, high temperatures are expected to return to the grain belt while further rains look to come next week. Both soybeans and corn are in critical development stages there.

• All three wheat classes are trading higher to start the day with Minneapolis wheat leading the way. Yesterday, all wheat contracts reversed lower after breaking a few cents above the 200-day moving average.
• The winter wheat crop in Texas was downgraded to just 33% good to excellent as of February 16. Crops rated poor to very poor rose by 6 points to 24% as cold temperatures and lack of snow coverage damage the crop.
• In France, 2025 wheat plantings are up 10% on improved weather with 6.35 million hectares of winter grains planted for the 2025 harvest. This is up 7.2% from last year’s plantings.

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 has broken out of its recent trade range and above the 5-dollar mark in the March contract. This is the highest level corn has been since the end of March 2024.
• Yesterday’s export inspections were strong with 63.4 mb of corn inspected for export. This was above the highest range of trade estimates and put year to date shipments at 546 mb.
• Weather in South America has improved with more significant rains in Argentina and a mix of rain and sun in Brazil. The safrinha corn plantings in Brazil are estimated at 36% complete.

• Soybeans are trading higher along with the rest of the grain complex. Disappointing NOPA crush and export inspections have not helped prices rally like corn and soybeans. Soybean meal is lower while oil is higher.
• Yesterday’s inspections report sale 720k tons of soybeans inspected for export compared to 1,097k the previous week and 1,292k a year ago. Primary destinations were China, Egypt, and Mexico.
• Yesterday’s NOPA crush came in at 200.38 million bushels for January which was down from the previous month’s  206.6 mb and was also below trade estimates. 

• All three wheat classes are trading higher to start the day, and March Chicago wheat broke above the 200-day moving average yesterday for the first time since the beginning of October.
• Yesterday’s export inspections were disappointing for wheat with 250k tons inspected compared to 570k the previous week and 420k a year ago. Top destinations were Mexico, South Korea, and Panama.
• The winter wheat crop in Texas was downgraded to just 33% good to excellent as of February 16. Crops rated poor to very poor rose by 6 points to 24% as cold temperatures and lack of snow coverage damage the 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 is trading higher this morning despite losses in both soybeans and wheat and remains near the highs of its recent trading range.
• In Argentina, the corn crop conditions were updated showing that the stretch of dry weather impacted crop ratings. 7 points were cut from the good to excellent conditions with 67% of the crop rated normal to regular and 33% poor to very poor.
• Friday’s CFTC report saw funds as sellers of corn by 31,828 contracts as of February 11 which lowered their net long position to 332,389 contracts. Overall, funds are still near their record long position.

• Soybeans are trading lower this morning, but have rebounded from overnight lows which saw prices as much as 10 cents lower. Soybean meal is slightly higher while soybean oil is lower.
• South American weather has improved and prices in Brazil have become much more competitive with the US. The USDA is estimating Brazilian soybean production at 169 mmt while other firms are closer to 172 mmt, a huge crop either way.
• Friday’s CFTC report saw funds as sellers of 28,554 contracts of soybeans which left them with a net long position of 28,475 contracts. They were net buyers of bean oil and sellers of meal.

• All three wheat classes are lower this morning with KC wheat leading the way down. On Friday, March Chicago wheat rallied up to its 200-day moving average which seems to be acting as resistance.
• Global weather uncertainty could be providing support, with dry conditions in Ukraine and Russia and colder temperatures expected this week in both Russia and the U.S. Plains.
• Friday’s CFTC report saw funds as buyers of 7,633 contracts of Chicago wheat leaving them with a net short position of 82,809 contracts. They were buyers of 5,733 contracts of KC wheat which left them with a net short position of 30,248 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 after posting gains yesterday and is at the top of its recent range, but still unable to break through $5 in the March contract. Yesterday’s export sales were supportive.
• Corn demand has begun to slip as the US exits its export window, but yesterday, a sale of 130,320 mt of corn was reported to unknown destinations. The weekly ethanol EIA petroleum status report saw slightly lower ethanol production at 1.082 million bpd.
• In Argentina, the corn crop conditions were updated showing that the stretch of dry weather impacted crop ratings. 7 points were cut from the good to excellent conditions with 67% of the crop rated normal to regular and 33% poor to very poor.

• Soybeans are trading higher this morning along with corn and wheat after finding support for the second consecutive day at the 100-day moving average. Both soybean meal and oil are trading higher as well.
• Yesterday’s export sales report was poor for soybeans coming in below the range of analyst estimates at 7.7 million bushels. Primary destinations were to China, Egypt, and the Netherlands.
• South American weather has improved and prices in Brazil have become much more competitive with the US. The USDA is estimating Brazilian soybean production at 169 mmt while other firms are closer to 172 mmt, a huge crop either way.

• All three wheat classes are higher to start the day again, and the March Chicago wheat futures are once again nearing the $6 mark that they have been unable to pass for months. World wheat values have risen supporting US wheat prices.
• Yesterday’s export sales report was better than expected for wheat with 22.3 million bushels sold, towards the higher end of analyst estimates. Primary destinations were to Mexico, South Korea, and the Philippines.
• Global weather uncertainty could be providing support, with dry conditions in Ukraine and Russia and colder temperatures expected next week in both Russia and the U.S. Plains.

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 lower this morning as it remains in its trading range with the March contract between $4.80 and $5.00. Improved weather in South America has kept both corn and soybeans from rallying further.
• Corn demand has begun to slip as the US exits its export window, but yesterday, a sale of 130,320 mt of corn was reported to unknown destinations. The weekly ethanol EIA petroleum status report saw slightly lower ethanol production at 1.082 million bpd.
• Estimates for today’s export sales report see corn sales in a range between 1,000k and 1,700k tons with an average guess of 1,363k. This would compare to 1,527k a week ago and 1,309k a year ago.

• Soybeans are trading lower this morning after significant losses yesterday and are on track for a third consecutive lower close, but may find some support at $10.25, the 100-day moving average. Soybean meal is higher while soybean oil is lower.
• South American weather has improved and prices in Brazil have become much more competitive with the US. The USDA is estimating Brazilian soybean production at 169 mmt while other firms are closer to 172 mmt, a huge crop either way.
• Estimates for today’s export sales report see soybean sales in a range between 300k and 800k tons with an average guess of 494k tons. This would compare to 388k last week and 308k a year ago.

• All three wheat classes are higher to start the day and have held up surprisingly well as corn has faltered and soybeans have turned lower. Wheat is undervalued compared to corn and may have a reason to rally further with global production concerns.
• Global weather uncertainty could be providing support, with dry conditions in Ukraine and Russia and colder temperatures expected next week in both Russia and the U.S. Plains.
• Estimates for today’s export sales report see wheat sales in a range between 200k and 600k tons with an average guess of 424k tons. This would compare to 486k last week and 397k a year ago.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading mostly unchanged this morning, with only marginal gains and losses across contract months.
• The March corn contract made another attempt yesterday to break out of its current range but was rejected after hitting a high of 497. Since January 29, the market has tested the 496.50 to 498.50 range in seven of the last ten trading days.
• In yesterday’s WASDE report, the USDA lowered China’s corn import estimate by 3 million metric tons (mmt) to 10 mmt. For comparison, last year the USDA had China’s corn imports at 23.4 mmt—a significant drop.

• Soybeans started higher in the overnight session, posting gains of around 3 cents, but have since turned lower, now trading 5-6 cents below yesterday’s close.
• The March contract, which hit a new high of 1079.75 last week, has been stair-stepping lower and is now testing 1039—a level that hasn’t been closed below since January 17.
• While the USDA left the U.S. soybean balance sheet unchanged in yesterday’s WASDE report, some analysts expect eventual increases of 25 million bushels each in U.S. exports and crush.

• All three wheat classes are currently trading 1-4 cents higher, though they’ve pulled back from overnight highs, where gains reached 5-6 cents.
• Global weather uncertainty could be providing support, with dry conditions in Ukraine and Russia and colder temperatures expected next week in both Russia and the U.S. Plains.
• Continuing the theme of lower Chinese grain demand, the USDA lowered China’s wheat import estimate by 2.5 million metric tons (mmt) to 8 mmt, down from 13.6 mmt 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 higher to start the day as trade looks for another reduction in ending stocks today, but March futures have been unable to break above the 5-dollar mark with the high last week of $4.98.
• Yesterday’s export inspections were firm for corn at 1,334k tons which compared to 1,253k tons last week and 892k a year ago. Top destinations were to Mexico, Japan, and South Korea.
• The USDA will release its WASDE report today at 11am central, and early estimates see US corn ending stocks falling slightly to 1,527 mb despite a slight estimated increase in export demand. World ending stocks are expected to remain unchanged.

• Soybeans are trading higher this morning ahead of the USDA report. March futures have been hovering near this level for the past month. Soybean meal is trading higher this morning while soybean oil is lower despite higher crude oil.
• Brazil is reportedly 15% done with its 24/25 soybean harvest as of February 6. Prices in the country have been firm as strong export demand has kept supply limited.
• Estimates for today’s WASDE report see US soybean ending stocks falling by 3 mb 378 mb but also see a potential increase in export demand. Global ending stocks are estimated to remain unchanged to slightly lower.

• All three wheat classes are trading slightly higher this morning with Chicago wheat leading the way higher. March futures are now 58 cents off the contract lows from January.
• Estimates for today’s WASDE report see US wheat ending stocks relatively unchanged along with world ending stocks. It is not expected to hold many surprises for wheat.
• Yesterday’s export inspections for wheat were decent at 536k tons which compared to 253k tons the previous week and 408k a year ago. Primary destinations were to the Philippines, Dominican Republic, and Mexico.

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 lower this morning after Friday’s sell-off, and have now retraced nearly 50% of the gains from Monday and Tuesday. President Trump announced 25% tariffs on all steel an aluminum imports to the US in another trade escalation that may make traders nervous.
• The February WASDE report will be out tomorrow at 11am central, and early estimates see US corn ending stocks falling slightly to 1,527 mb despite a slight estimated increase in export demand. World ending stocks are expected to remain unchanged.
• Friday’s CFTC report saw funds as buyers of corn by 13,496 contracts which increased their net long position to 364,217 contracts as of February 4.

• Soybeans are trading lower to start the day but have been relatively rangebound over the past month. Argentina is receiving needed rainfall while Brazil has begun to dry out for harvest. Soybean meal is slightly higher while soybean oil is trading lower.
• Estimates for Tomorrow’s WASDE report see US soybean ending stocks falling by 3 mb 378 mb but also see a potential increase in export demand. Global ending stocks are estimated to remain unchanged to slightly lower.
• Friday’s CFTC report saw funds as buyers of just 533 contracts of soybeans which increased their net long position to 57,029 contracts as of February 4.

• All three wheat classes are trading slightly lower to start the day along with the rest of the grain complex. The dollar is trading higher which is likely adding pressure.
• Fundamentals remain friendly for wheat as the US winter wheat crop has struggled from winter kill, and estimates for Russian wheat also slip due to weather problems in the country.
• Friday’s CFTC report saw funds as buyers of 20,340 contracts of Chicago wheat, decreasing their net short position to 90,442 contracts. They bought 6,405 contracts of KC wheat, decreasing their net short position to 35,981 contracts.

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

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