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Grain Market Insider Interactive Quote Board

• Corn futures are trading unchanged to slightly lower this morning with futures just a hair above the 100-day moving average. December is unchanged at $4.26-3/4 and March is down 1/4 cent at $4.44-1/4.
• Rains are forecast west of the Mississippi this week—likely slowing harvest but providing relief to falling river levels after recent dryness. Crop ratings fell by one point this week.
• Estimates for today’s export sales report see corn sales in a range between 600k and 1,90k tons with an average guess of 1,067k tons. This would compare to 540k a week ago and 847k a year ago.

Corn Futures Extend Higher: December corn futures extended gains following the release of the September WASDE report. Prices broke through the 100-day moving average, but face further technical resistance at the July 7 price gap.

• Soybeans are lower this morning following yesterday’s 6 cent loss with concerns over a Chinese trade deal. November is down 3-1/2 cents to $10.40-1/4 and March is down 3-1/4 to$10.74-3/4. October soybean meal is down $1.40 to $282.50 and October bean oil is down 0.21 cents to 51.03 cents.
• The EPA on Tuesday issued a co-proposal to reallocate either 50% or 100% of small refinery exemptions for 2023–25, while also revising RVOs for 2026–27. A higher reallocation means more soybean oil demand for biofuels. 
• Estimates for today’s export sales report see bean sales between 400k and 1,500k tons with an average guess of 808k tons. This would compare to 541k a week ago and 1,757k a year ago.

Soybean Futures Press Higher: Soybean futures closed sharply higher following the release of the September WASDE report, breaking through the 100-day moving average. The next point of technical resistance can be found near $10.60, an area that has capped rallies since late June.

• Wheat is trading higher and has been in an upward trend following the contract low on September 11. December Chicago wheat is up 3-3/4 cents to $5.32 and December KC wheat is up 2-1/2 cents to $5.18-1/2.
• Estimates for today’s export sales report see wheat sales in a range between 300k and 650k tons with an average guess of 442k tons. This would compare to 305k a week ago and 258k a year ago.
• A Federal Reserve rate cut is expected in today’s meeting. If realized a cut could provide pressure to the U.S. dollar which has already been trending downward. 

Chicago Wheat Tests Resistance: Wheat futures broke through resistance at the 50-day moving average. Prices currently face strong technical resistance near 534 through the 100-day moving average.

KC Wheat Trends Sideways, Tests Lows: December KC wheat broke through its 50-day moving average in a strong fashion. The next area of technical resistance lies near 527, at the 100-day moving average.

Spring Wheat Tests Support: Futures remain rangebound as harvest advances, holding early August lows near 570 support. On the upside, the first point of strong resistance sits near 585 at the 50-day moving average. A second point can be found through a cluster of moving averages near 600.

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

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

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

Grain Market Insider Interactive Quote Board

• Corn futures are trading near unchanged this morning with December futures near 429 and May futures trading near 456.
• Rains are forecast west of the Mississippi this week—likely slowing harvest but providing relief to falling river levels after recent dryness.
• Corn futures have pushed above the 100-day moving average, with strong demand fueling the rally. Prices are nearing overbought territory just as harvest pressure looms.

Corn Futures Extend Higher: December corn futures extended gains following the release of the September WASDE report. Prices broke through the 100-day moving average, but face further technical resistance at the July 7 price gap.

• Soybeans are lower to start the day following yesterday’s close higher. November soybeans are down 3-1/2 cents to $10.46-1/4 and March is down 3-1/2 cents to $10.80-1/2. October meal is up $0.30 to $286.40 and October bean oil is down 0.62 cents to 52.52 cents.
• President Trump is set to speak with China’s President Xi on Friday regarding trade, with traders hopeful soybeans will be part of the talks.
• The EPA on Tuesday issued a co-proposal to reallocate either 50% or 100% of small refinery exemptions for 2023–25, while also revising RVOs for 2026–27. A higher reallocation means more soybean oil demand for biofuels. 

Soybean Futures Press Higher: Soybean futures closed sharply higher following the release of the September WASDE report, breaking through the 100-day moving average. The next point of technical resistance can be found near $10.60, an area that has capped rallies since late June.

• Wheat is trading near unchanged to start the day with December Chicago wheat near 534, December KC wheat near 523 and December spring wheat near 575. 
• Both winter wheat futures pushed above upside resistance with yesterday’s close after word that three importers has bought large quantities of U.S. wheat. 
• A Federal Reserve rate cut is expected in today’s meeting. If realized a cut could provide pressure to the U.S. dollar which has already been trending downward. 

Chicago Wheat Tests Resistance: Wheat futures broke through resistance at the 50-day moving average. Prices currently face strong technical resistance near 534 through the 100-day moving average.

KC Wheat Trends Sideways, Tests Lows: December KC wheat broke through its 50-day moving average in a strong fashion. The next area of technical resistance lies near 527, at the 100-day moving average.

Spring Wheat Tests Support: Futures remain rangebound as harvest advances, holding early August lows near 570 support. On the upside, the first point of strong resistance sits near 585 at the 50-day moving average. A second point can be found through a cluster of moving averages near 600.

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

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

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

Grain Market Insider Interactive Quote Board

• Corn is trading higher this morning after futures saw some weakness yesterday. December futures are trading right at the 100-day average and need to close above it. December corn is up 3-1/4 cents to $4.26-1/2 and March is up 3 cents to $4.44.
• Yesterday’s Crop Progress report was slightly friendly with crop ratings for corn falling by one point from last week to 67% good to excellent. This compares to 65% a year ago. 85% of the crop is dented, 41% is mature, and 7% is harvested.
• Yesterday’s export inspections report saw corn inspections better than expected at 1,512k tons which compared to 1,443k last week and 569k a year ago. Top destinations were to Mexico, Japan, and Colombia.

Corn Futures Extend Higher: December corn futures extended gains following the release of the September WASDE report. Prices broke through the 100-day moving average, but face further technical resistance at the July 7 price gap.

• Soybeans are higher to start the day and have so far taken back all of yesterday’s losses and more. November soybeans are up 6 cents to $10.48-1/2 and March is up 6 cents to $10.82-1/2. October meal is down $0.30 to $284.90 and October bean oil is up 0.64 cents to 52.40 cents.
• Yesterday’s Crop Progress report saw soybean crop conditions fall by one point to 63% good to excellent which compared to 64% a year ago. 41% of the crop has dropped leaves and 7% is harvested.
• Yesterday’s inspections were good for beans at 804k tons which compared to 468k last week and 474k a year ago. Top destinations were to Italy, Bangladesh, and Mexico.

Soybean Futures Press Higher: Soybean futures closed sharply higher following the release of the September WASDE report, breaking through the 100-day moving average. The next point of technical resistance can be found near $10.60, an area that has capped rallies since late June.

• Wheat is trading higher to start the day with December Chicago wheat up 3-1/2 cents to $5.28-1/2 while December KC wheat is up 3-1/4 cents to $5.17-1/4.
• Yesterday’s Crop Progress report saw that the spring wheat harvest is now 94% complete which is ahead of the 5-year average of 92%. Winter wheat is 11% harvested which compares to the 5-year average of 13% at this time.
• Yesterday’s export inspections were above expectations for wheat at 755k tons which compared to 429k last week and 590k a year ago. Top destinations were to Mexico, Indonesia, and the Korean Republic.

Chicago Wheat Range Bound: Wheat futures have remained relatively rangebound between 515 and 534 following the August low and contract rollover. The first point of technical resistance is near 530 at the 50-day moving average.

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

Spring Wheat Tests Support: Futures remain rangebound as harvest advances, holding early August lows near 570 support. On the upside, strong resistance sits just above 600 at clustered moving averages, with a secondary target near 650 if momentum builds.

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

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

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

Grain Market Insider Interactive Quote Board

• Corn is trading lower this morning following Friday’s higher trade that came on the heels of a relatively bearish USDA report. December corn is down 4-1/4 cents to $4.25-3/4 while March is down 4-1/2 cents to $4.43.
•  While Friday’s WASDE report numbers were within trade expectations, they leaned bearish. Corn ending stocks for 24/25 were increased to 1.325 bb while 25/26 ending stocks were lowered but above the trade guess at 2.11 bb. Yield was decreased to 186.7 bpa and harvest acreage was increased to 90.0 ma.
• Friday’s CFTC report saw funds as sellers of corn by 8,442 contracts which increased their net short position to 99,929 contracts.

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

• Soybeans are trading lower to start the week with prices hovering above the 21-day moving average. November soybeans are down 5 cents at $10.41-1/4 and March beans are down 5 cents at $10.75-1/4. October meal is down $3.10 to $284.50 and October bean oil is up 0.30 cents to 51.97 cents.
• The USDA report saw 24/25 soybean ending stocks unchanged at 330 mb while 25/26 ending stocks were increased slightly by 10 mb to 300 mb. Export demand was lowered and yield was lowered to 53.5 bpa.
• Friday’s CFTC report saw funds as sellers of soybeans by 26,678 contracts increasing their net short position to 14,714 contracts. They sold 12,465 contracts of bean oil and bought back 3,737 contracts of meal.

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

• Wheat is mixed to start the day with December Chicago wheat up 1-1/2 cents at $5.24-3/4 while December KC wheat is down 1/2 cent to $5.14-1/4, and Minn is down 1/4 cent.
• The WASDE report saw 25/26 ending stocks for wheat fall to 844 mb from 869 mb last month. World ending stocks increased to 264.1 mmt from 260.1 mmt in August.
• Friday’s CFTC report saw funds as sellers of Chicago wheat by 10,451 contracts leaving them short 92,394 contracts. They bought back 1,656 contracts of KC wheat decreasing their short position to 53,025 contracts.

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

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

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

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

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

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

Grain Market Insider Interactive Quote Board

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

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

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

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

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

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

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

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

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

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

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

Grain Market Insider Interactive Quote Board

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

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

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

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

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

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

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

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

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

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

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

Grain Market Insider Interactive Quote Board

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

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

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

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

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

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

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

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

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

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

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

Grain Market Insider Interactive Quote Board

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

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

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

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

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

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

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

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

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

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

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

Grain Market Insider Interactive Quote Board

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

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

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

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

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

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

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

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

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

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

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

Grain Market Insider Interactive Quote Board

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

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

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

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

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

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

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

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

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

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

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