Corn is trading lower this morning with the March contract still struggling to break above $5.00. Yesterday’s export sales were strong for corn, but a large global balance sheet has kept prices from rallying further.
The February WASDE report will be on this coming Tuesday, 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.
Yesterday’s corn export sales of 58.2 million bushels were better than expected, and total commitments are now at 71.9% of the USDA’s export forecast with 30 weeks left in the marketing year.
Soybeans are trading lower to start the day and have been unable to break back above the 200-day moving average after spiking higher earlier in the week. Both soybean meal and oil are trading lower as well.
Estimates for Tuesday’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.
In South America, Argentinian soybean production was last estimated at 52 mmt but may slip due to recent dry weather. The Brazilian soybean crop is estimated at 170 mmt.
All three wheat classes are trading lower to start the day after higher prices overnight saw the March Chicago wheat contract exceed $5.90 for the first time since November last year.
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.
While US wheat markets typically follow the European wheat contracts, this rally has only been seen in US markets while the EU has been rangebound. This points to funds beginning to cover their short positions.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn is trading slightly higher to start the day but the March contract has still been unable to hit the 5-dollar mark. Yesterday, futures got as high as $4.98-1/2.
Estimates for today’s export sales report see corn sales in a range between 850k and 1,500k tons with an average guess of 1,133k. This would compare to last week’s 1,404k and 1,219k tons the previous year.
The next two months of weather will be crucial for Brazil’s second-crop corn. A delayed soybean harvest has slowed corn planting, with CONAB reporting just 5.3% complete to start the week, compared to 19.8% last year.
Soybeans are higher this morning and are taking back a portion of yesterday’s losses. Fundamentals are largely unchanged from yesterday with harvest ongoing in Brazil but delayed, so this move may be a technical recovery. Both soybean meal and oil are trading higher.
Estimates for today’s export sales report see soybean sales in a range between 300k and 1,100k tons with an average guess of 633k tons. This would compare to 443k last week and 350k tons the previous year.
Continued moisture and normal to below-normal temperatures have limited soybean harvest opportunities in Brazil. CONAB reported yesterday that harvest was only 8% done to start the week compared 14% last year.
All three wheat classes are trading higher to start the day with Chicago wheat posting the larger gains. March Chicago wheat is managing to hold just above the 100-day moving average. It is encouraging to see wheat trade higher with the US dollar higher as well.
Strong harvests reported in both Argentina and Australia could lessen the worry of potential reductions in world wheat production due to recent cold snaps in Russia and the U.S.
Estimates for today’s export sales report see wheat sales in a range between 200k and 550k tons with an average guess of 350k tons. This would compare to 480k last week and 387k the previous 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.
Corn is slightly higher this morning, with March futures preparing to challenge the psychological $5 level.
The next two months of weather will be crucial for Brazil’s second-crop corn. A delayed soybean harvest has slowed corn planting, with CONAB reporting just 5.3% complete to start the week, compared to 19.8% last year.
Strong demand has been the main driver of fund buying in corn. However, for prices to sustain above $5, the market will need continued bullish fundamentals, especially given the near-record fund length in corn.
Soybeans are trading lower this morning after a sharply higher start to the week that led to the highest soybean price in six months.
Continued moisture and normal to below-normal temperatures have limited soybean harvest opportunities in Brazil. CONAB reported yesterday that harvest was only 8% done to start the week compared 14% last year.
While good rainfall has provided some short-term relief to much of Argentina, heat and a return to drier conditions are expected in the coming week.
All three wheat classes are trading higher this morning after a strong start to the week.
After the higher close in Chicago wheat futures yesterday, all three wheats are now trading over their 100-day moving averages. With the funds still heavily net short wheat futures, this technical development could lead to buying interest.
Strong harvests reported in both Argentina and Australia will lesson the worry of potential reductions in world wheat production due to recent cold snaps in Russia and the U.S.
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Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn is mixed this morning with the March contract slightly higher while the deferred months are lower. Yesterday’s trad was very volatile with an initial gap lower which was followed by a rally that filled all gaps on the chart after tariffs were pushed off for 30 days with Mexico.
Yesterday, after Mexico made concessions which resulted in the tariff implementation date being pushed back, the same thing happened with Canada in a phone call at 2pm. Canada agreed to heighten border security, and the tariffs on Canadian goods was pushed back for another 30 days.
Friday’s CFTC report saw funds as buyers which brought them to a net long position of 350,721 contracts, but since then, they are estimated to be long closer to 374,270 contracts which is nearing record long territory.
Soybeans are trading lower this morning as yesterday, tariffs for Canada and Mexico were held off, but China retaliated by placing tariffs on some US goods. This leads to concerns over export demand for soybeans. Soybean meal is trading higher while soybean oil is lower.
Yesterday, the US inspected 1,013k tons of soybeans for export. This compared to 738k tons the previous week and 1,751k tons a year ago at this time.
Brazil’s 24/25 soybean harvest is reportedly 7.6% complete as of January 31 which compares to a pace of 15.7% the previous year and the 5-year average of 11.8% at this time.
All three wheat classes are trading lower this morning after stronger but volatile trade yesterday. Tariffs against Canada would have been supportive to wheat due to the quantity of wheat imports from the country, but now those tariffs are postponed.
SovEcon has cut its estimate of Russian wheat export outlook as a result of limited supplies and low profitability for shipments abroad. Their export outlook is now at 42.8 mmt which is 2% lower than the previous estimate.
US winter wheat crop conditions were updated yesterday and saw the good to excellent rating in Kansas increasing to 50% from 47% the previous week. Oklahoma on the other hand fell by 5% to 40%, and conditions in Texas fell by 5% to 37%.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn is trading lower this morning and has gapped lower for a second consecutive day after March futures fell short of the 5-dollar mark last week, and the Trump tariffs went into effect over the weekend.
President Trump has put tariffs of 25% on both Canada and Mexico who had previously not had any tariffs on them, and tariffs on China were increased another 10%. The dollar has rallied on this news and it has been bearish for grains but bullish for energies. Trudeau has said Canada would retaliate by placing 25% tariffs on US goods.
Friday’s CFTC report saw funds as buyers of corn as of January 28 by 39,043 contracts which increased their net long position to 350,721 contracts.
Soybean futures are trading lower to start the day alongside corn and wheat as a response to the tariffs, but it has been interesting that soybean meal is driving the complex lower while soybean oil is benefitting from the tariff news and trading higher.
Brazil’s 24/25 soybean harvest is reportedly 7.6% complete as of January 31 which compares to a pace of 15.7% the previous year and the 5-year average of 11.8% at this time.
Friday’s CFTC report saw funds as buyers of soybeans as of January 28 by 16,166 contracts increasing their net long position to 56,496 contracts.
All three wheat classes are trading lower this morning but have not has as significant of a bearish reaction to the tariff news as corn and soybeans have as wheat is already near contract lows.
SovEcon has cut its estimate of Russian wheat export outlook as a result of limited supplies and low profitability for shipments abroad. Their export outlook is now at 42.8 mmt which is 2% lower than the previous estimate.
Friday’s CFTC report saw funds as sellers of Chicago wheat by 18,990 contracts leaving them short 110,782 contracts. They were sellers of KC wheat by 7,255 contracts which left them net short 42,386 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.
Corn is trading lower this morning for what would be the second consecutive day in a row, and also gapped lower in the March contract. Prices came within less than three cents of the $5 mark on Wednesday which is big psychological resistance.
The Buenos Aires Grain Exchange reported that Argentina was most likely get rain in February that would put an end to the drought and stop the corn crop from deterioration. They expect Argentina to produce 49 mmt of corn.
Yesterday’s export sales report saw corn sales within the average trade guesses at 1,404k tons, but this was below last week’s sales of 1,670k tons.
Soybean futures are also trading lower this morning for what would be the second consecutive day of losses. The dollar is higher which could be adding pressure, but the improved Argentine forecast is the more likely culprit as evidenced by lower soybean meal. Soybean oil is slightly higher.
The US December soybean crush is expected to come in at a record high 217.6 million bushels according to analysts at Reuters. If this is realized, it would be up 3.6% from the 210.0 mb crushed in November and 6.6% from last December’s crush.
Yesterday’s export sales for soybeans were poor at just 443k tons. This compared to 1,493k tons the previous week. Primary destinations were to China, Spain, and the UK.
All three wheat classes are trading lower this morning after yesterday’s gains. Wheat is very sensitive to moves in the US dollar which is currently trading higher, but there seems to be a bearish tone overall in the grain markets this morning.
SovEcon has cut its estimate of Russian wheat export outlook as a result of limited supplies and low profitability for shipments abroad. Their export outlook is now at 42.8 mmt which is 2% lower than the previous estimate.
Yesterday’s export sales report was slightly better than expected for wheat at 480k tons sold. This compared to 215k last week, and the top buyers were the Philippines, unknown, 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.
Corn is trading lower this morning after yesterday, the March contract reached its highest level since May 2024. Prices have begun to back off now that they are facing resistance at the 5-dollar mark.
In Brazil, safrinha corn planting is falling behind schedule, with only 1% planted compared to the 10% average. Forecasts call for rain next week, further tightening the planting window. Some Brazilian farmers are considering switching from corn to sorghum as a result.
Estimates for today’s export sales report see corn sales in a range between 850k and 1,800k tons with an average guess of 1,275k tons. This would compare with 1,670k last week and 1,351k a year ago.
Soybean futures are trading lower this morning giving back a portion of yesterday’s gains. As in corn, soybeans are nearing resistance, and funds may be taking profits on short positions. Both soybean meal and oil are trading lower.
Export demand has softened, with last week’s Gulf soybean loadings hitting their lowest level since mid-September. The Lunar New Year holiday in China and expectations for cheaper Brazilian supplies in the coming weeks may be contributing to the slowdown.
Estimates for today’s export sales report see soybean sales in a range between 450k and 1,700k tons with an average guess of 1,150k. This would compare to 1,493k last week and 166k the previous year.
Wheat futures are mixed to start the day with Chicago trading slightly lower while KC and Minneapolis are higher. Prices rallied higher yesterday on technical short covering and poor global weather.
Global crop concerns continue to rise as Western Europe is too wet and the Black Sea and Ukraine too dry. France’s wet weather is hurting crop ratings and dimming production prospects. Russia’s wheat crop could fall below 85 MMT.
Estimates for today’s export sales report see wheat sales in a range between 150k and 500k tons with an average guess of 300k. This would compare to last week’s 215k and 338k the previous 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.
Corn is leading the grain markets higher this morning, with May and July contracts pushing back above the $5.00 mark. Overnight highs were last posted at $5.02½ for May and $5.04¼ for July.
In Brazil, safrinha corn planting is falling behind schedule, with only 1% planted compared to the 10% average. Forecasts call for rain next week, further tightening the planting window. Some Brazilian farmers are considering switching from corn to sorghum as a result.
Meanwhile, a 3% drop in the U.S. dollar—from its mid-January high of 110 to this Monday’s low of 106.775—has likely added support to the market. Since the dollar peaked, the March ’25 contract has gained 15 cents.
Soybean futures are trading higher this morning, up six to nine cents at their respective overnight highs.
Harvest delays in Brazil are firming export prices, with yield expectations mixed. Central Brazil is on track for near-record yields, but southern Brazil’s yields could drop 20% compared to last year.
Export demand has softened, with last week’s Gulf soybean loadings hitting their lowest level since mid-September. The Lunar New Year holiday in China and expectations for cheaper Brazilian supplies in the coming weeks may be contributing to the slowdown.
Wheat futures are building on yesterday’s gains, trading six to eight cents higher overnight, following strong gains of eight to twelve cents in the previous session.
Global crop concerns continue to rise as Western Europe is too wet and the Black Sea and Ukraine too dry. France’s wet weather is hurting crop ratings and dimming production prospects. Russia’s wheat crop could fall below 85 MMT.
Jordan has issued a tender to purchase 120,000 MT of milling wheat from optional origins.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures are trading higher this morning with the March contract taking back half of yesterday’s losses. Yesterday, traders were spooked by the tiff with Colombia and potential new tariffs as well as lower equities in the tech sector that weighed on nearly all commodities.
As of January 23, the US inspected 1.247m tons of corn for export which compared to 1.542k the previous week and 926k a year ago. The majority of the corn is headed for Japan followed by Mexico.
President Trump is reportedly being pressed to delay a gasoline policy change that is meant to boost ethanol sales due to concerns that the necessary fueling infrastructure would be installed in time.
Soybean futures are trading higher to start the day, but are still 28 cents off last week’s high as farmer selling and fund profit taking bring prices lower. Both soybean meal and oil are trading higher, but bean oil is posting the larger gains.
The Brazilian soybean harvest is reportedly the slowest since the 20/21 harvest. Parana has been leading the country in progress, but Mato Grosso and other states are still delayed although there have been reductions in rainfall.
Yesterday’s export inspections report saw soybean inspections at 729k tons which compared to 979k last week and 913k the previous year. The majority of the soybeans are headed to China followed by Turkey.
All three wheat classes are trading higher this morning as the grain complex recovers slightly in general from yesterday’s outside market sell-off. Prices remain near contract lows despite some fundamental bullishness.
Frigid temperatures over the past week have reportedly killed up to 15% of the winter wheat crop in parts of the US Plains and Midwest according to the Commodity Weather Group. The lack of snow coverage made winter wheat vulnerable to winter kill.
Yesterday’s export inspections report saw 485k tons of wheat inspected for export as of January 23 which compared to 262k tons last week and 284k the previous year. The wheat is primarily headed to Japan followed by 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.
Corn futures are trading lower this morning with the March contract now trading below the 21-day moving average for the first time since the WASDE report was released on the 10th. The move comes despite a decline in the dollar index.
Over the weekend, Colombia blocked an incoming deportation flight from the US prompting President Trump to impose a 25% tariff against the country along with sanctions, but as of this morning, that has been put on hold after Colombia agreed to make a deal. The uncertainty has pressured commodities.
Friday’s CFTC report saw funds as buyers of corn by 19,244 contracts as of January 21 which left them with a net long position of 311,768 contracts.
Soybean futures are trading lower this morning following the news of potential Colombian tariffs, and the March contract is now 30 cents off last week’s high. Both soybean meal and oil are trading lower as well.
President Trump is eyeing February 1 to impose a 10% tariff on Chinese imports. The commodities market is bracing for a rollercoaster ride as headlines flip between optimism and tension on the tariff front.
Friday’s CFTC saw funds as buyers of soybeans by 5,497 contracts as of January 21. This left them with a net long position of 40,330 contracts.
All three wheat classes are trading lower this morning along with the rest of the grain complex. March Chicago wheat is now just 13 cents off its contract lows as exports demand remains sluggish.
Frigid temperatures over the past week have reportedly killed up to 15% of the winter wheat crop in parts of the US Plains and Midwest according to the Commodity Weather Group. The lack of snow coverage made winter wheat vulnerable to winter kill.
Friday’s CFTC report saw funds as buyers of Chicago wheat as of January 21 leaving them net short 91,792 contracts. They bought 2,475 contracts of KC wheat leaving them net short 35,131 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.
