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All prices as of 6:30 am Central Time

• Corn is trading lower to start the day but remains off yesterday’s contract lows that were made after crop progress results showed another 1 point improvement to crop ratings. Yesterday, September corn found support right at the $4.00 mark.
• Last week, the European weather model forecasted a hotter and drier July, but so far, the 6-10 day forecast shows above average precipitation for the Corn Belt which is weighing on prices.
• US corn used for ethanol came in at 449.4 million bushels in May which was up from April but down 1.3% from a year ago at this time.

• Soybeans are trading higher following bullish crushing numbers and oversold futures yesterday which saw the August contract fall to $10.16-1/4 before recovering, the lowest level since April. Meal is lower while bean oil leads the complex higher.
• The USDA released its monthly oilseed report which showed soybean crushings for May at 203.7 million bushels. This was up 6.3% from the same period last year and also up from the previous month. Crude oil production was 6.5% higher.
• In Indian, palm oil imports shot higher by 61% to hit an 11-month high for the month of June as a result of lower domestic inventories. This is bullish for all veg oils.

• All three wheat classes are trading slightly lower to start the day following yesterday’s rally which brought September Chicago wheat futures back to the 50-day moving average. Trade will look for a close above this level.
• Monday’s Crop Progress report showed another decline in crop ratings by 1 point which has added some risk premium as funds hold a large net short position, but the ongoing winter wheat harvest has tempered this rally a bit.
• More rain is expected to fall this week in soft red wheat areas which could delay harvest at times. Europe is currently experiencing a heat wave which could slow harvest there as well.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading lower this morning with the September contract falling down to within just one cent of the contract low after yesterday’s Crop Progress report showed conditions improving. Yesterday’s USDA report was a touch friendly to corn.
• Yesterday, the USDA said that as of June 29, the corn crop conditions had improved by 3 points to 73% good to excellent. This compares to 67% a year ago at this time. 8% of the corn crop is silking which is behind last year’s pace but ahead of the 5-year average.
• Yesterday’s USDA report saw corn acres at 95.2 million which was down slightly from 95.3 in March. This is still up significantly from last year’s 90.6 ma. Grain stocks came in at 4.644 bb which was within analyst expectations and down from 4.997 bb a year ago.

• Soybeans are lower to start the day despite a relatively neutral report yesterday and unchanged crop conditions. With these reports out of the way, trade is likely looking back to weather which does not hold many concerns so far. Soybean meal is lower while bean oil is higher.
• Yesterday’s Crop Progress report saw soybeans good to excellent ratings unchanged at 66% which compared to 67% a year ago. 94% of the crop is emerged and 3% is setting pods, on par with last year’s pace.
• Yesterday’s USDA report showed soybean acres down slightly from the March report at 83.4 million acres, but analysts expected this. It compares to 87.1 ma last year. Grain stocks were 1.008 bb which was slightly above the average trade guess and compared to 970 mb last year.

• Both Chicago and KC wheat are trading higher while Minneapolis wheat and the rest of the grains trade lower following a bullish Crop Progress Report but uneventful USDA report yesterday.
• Yesterday’s Crop Progress showed both winter wheat and Spring wheat lose 1 point to 48% and 53% good to excellent respectively. Spring wheat conditions are down 19 points from this time last year. 37% of the winter wheat crop has been harvested.
• Yesterday’s acreage report showed wheat acres virtually unchanged at 45.5 ma and down slightly from last year’s 46.1 ma. Grain stocks for wheat came in at 851 mb, slightly above the trade guess, and above last year’s 696 mb. 

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading lower to start the day following Friday’s move higher as traders anticipate today’s acreage report with concern that it could be bearish. The acreage and grain stocks reports in June have a history of being market movers.
• Today at 11am, the USDA will release its updated acreage report, and analysts are expecting corn acres to increase slightly to 95.3 ma from 95.3, but some are anticipating an even larger number. Quarterly stocks are estimated at 4,648 mb.
• Friday’s CFTC report saw funds as buyers of corn as of June 24. They bought 2,506 contracts leaving them with a net short position of 182,282 contracts.

• Soybeans are trading higher to start the day as trade anticipates a friendly stocks and acreage report today. Soybean oil is lending support with higher prices while soybean meal is lower.
• Today, the USDA will release its updated acreage report, and although a change in soybean acres from 83.5 ma is not expected, there is some wiggle room with trade estimates between 82 and 85 ma. Quarterly stocks are estimated at 971 mb.
• Friday’s CFTC report saw funds as sellers of soybeans by 35,717 contracts which reduced their net long position to 23,448 contracts. They sold 1,824 contracts of bean oil and sold 2,999 contracts of meal.

• Wheat is mixed to start the day with only Minneapolis trading slightly higher. The July contacts is Chicago and KC wheat are higher but are also in delivery as of today.
• Today’s acreage report is expected to show unchanged wheat acres from the March report at 45.4 million, but some analysts think that number could be lower with acres lost to more corn. Estimates for quarterly stocks are at 835 mb for wheat.
• Friday’s CFTC report saw funds as buyers of Chicago wheat by 16,686 contracts which left them net short 64,667 contracts. They bought back 18,689 contracts of KC wheat leaving them short 43,462 contracts.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading higher this morning potentially breaking its streak of closing lower every day so far this week. The European weather models have turned hotter and drier for July which should benefit prices.
• Yesterday’s export sales for corn were slightly better than expected at 1,047k tons which compared to 1,059k last week and 682k a year ago. Top buyers were Mexico, unknown, and Colombia.
• On Monday, the USDA will release its updated acreage report, and analysts are expecting corn acres to increase slightly to 95.3 ma from 95.3, but some are anticipating an even larger number.

• Soybeans are trading higher as technicals have become oversold and funds likely worry about holding a net short position going into a hot and dry July/August. Both soybean meal and oil are virtually unchanged this morning.
• Yesterday’s export sales report saw soybean sales near par with trade expectations at 559k tons which compared to 615k last week and 385k a year ago. Top destinations were to Mexico, the Netherlands, and Indonesia.
• On Monday, the USDA will release its updated acreage report, and although a change in soybean acres from 83.5 ma is not expected, there is some wiggle room with trade estimates between 82 and 85 ma.

• All three wheat classes are trading along with the rest of the grain complex after Thursday’s drought monitor showed an expansion of drought in the northwest followed by long term forecasts showing less rain this summer.
• Yesterday’s export sales for wheat were on the low side at 255k tons which compared to 427k last week and 667k tons a year ago at this time. Top buyers were Japan, Mexico, and South Korea.
• Monday’s acreage report is expected to show unchanged wheat acres from the March report at 45.4 million, but some analysts think that number could be lower with acres lost to more corn.

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

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

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

All prices as of 6:30 am Central Time

• Corn futures are trading slightly higher to start the day which is a relief following four consecutive days of lower prices. Export demand has been good and there was a flash sale earlier this week of 630,000 mt of corn to Mexico.
• In Brazil, Agroconsult raised its estimate for second crop corn production to a record 123.3 MMT—10.4 MMT above their May forecast. The safrinha crop is expected to account for roughly 80% of Brazil’s total corn output this season.
• Estimates for today’s export sales report see corn sales in a range between 650k and 1,400k tons with an average guess of 966k. This would compare to 1,059k last week and 682k a year ago.

• Soybeans are mixed to start the day with gains in the front months and losses in the new crop contracts. Yesterday’s move lower that was led by soybean meal brought soybeans below all its major moving averages and at the lowest prices since the beginning of April.
• On Monday, the USDA will release its updated acreage report, and although a change in soybean acres from 83.5 ma is not expected, there is some wiggle room with trade estimates between 82 and 85 ma.
• Estimates for today’s export sales report see soybean sales in a range between 200k and 600k tons with an average guess of 441k. This would compare to 615k last week and 385k a year ago.

• All three wheat classes are trading slightly lower this morning as wheat remains the punching bag for bearish fund money. Wheat is oversold, at support, and funds will soon likely begin short covering their 100,000 contract plus short position.
• In Russia, SovEcon raised its estimate for the 2025 wheat crop to 83m tons from an earlier forecast of 82.8m tons. Improved conditions in parts of central Russia helped yields.
• Estimates for today’s export sales report see wheat sales between 300k and 600k tons with an average guess of 431k tons. This would compare to 427k last week and 667k tons a year ago.

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

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

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

All prices as of 6:30 am Central Time

• Corn futures are trading lower again this morning, with December dipping to a new contract low during overnight trade.
• Rainfall continues to move through Iowa, Nebraska, and the Northern Corn Belt, reinforcing a largely non-threatening weather outlook for the U.S. corn crop into early July.
• In Brazil, Agroconsult raised its estimate for second crop corn production to a record 123.3 MMT—10.4 MMT above their May forecast. The safrinha crop is expected to account for roughly 80% of Brazil’s total corn output this season.

• Soybeans are trading slightly lower to start the day, following sharp losses over the past three sessions.
• Soybean oil futures are also modestly weaker this morning, aiming to break a five-day losing streak. The recent cease-fire agreement between Israel and Iran has weighed heavily on crude oil, which is now $13 per barrel below Monday’s high—dragging soybean oil prices lower in tandem.
• Monday’s Crop Progress report showed soybean conditions unchanged, with 66% of the crop rated good to excellent. Planting is now 96% complete, with 90% emerged—up from 84% the previous week. Additionally, 8% of the crop has reached the blooming stage.

• Wheat futures are mixed this morning, with spring wheat holding near unchanged while the winter wheats are slightly lower.
• For now, traders appear largely unconcerned with generally poorer winter wheat conditions across most states compared to 2024, despite weekly declines in Monday’s Crop Progress report and a slower-than-normal harvest pace.
• Globally, favorable conditions in France and steadily improving crop estimates for Russia in recent weeks continue to weigh on wheat futures.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading lower again this morning as reports come in that the cease fire agreement made last night between Israel and Iran seems to have faltered with both countries accusing the other of breaking the deal overnight. This has put pressure on the grain and energy complexes.
• Yesterday afternoon’s Crop Progress report was friendly as the crop ratings were lowered by 2 points to 70% good to excellent. 97% of the crop is emerged and 4% is silking.
• The CFTC report showed funds as sellers of corn as of June 17. They sold 20,768 contracts which increased their net short position to 184,788 contracts.

• Soybeans are trading lower to start the day under pressure from sharply lower soybean oil which is following crude oil. Crude has lost over 10 dollars a barrel in value from yesterday’s high as trade now assumes that Iran will not close the Strait of Hormuz.
• Yesterday’s Crop Progress Report saw crop conditions for soybeans unchanged with the good to excellent rating still at 66%. 96% of the crop is planted, 90% is emerged, and 8% is blooming.
• Yesterday’s CFTC report saw funds as buyers of soybeans. They bought 33,526 contacts which increased their net long position to 59,165 contracts. They bought 21,375 contracts of bean oil and sold 20,273 contracts of meal.

• All three wheat classes are trading lower again this morning and have unfortunately taken the brunt of the recent sell-off in grains despite having a more compelling bullish story as crop ratings decline and funds are poised to cover a portion of their short position.
• Yesterday’s Crop Progress saw winter wheat crop ratings down 3 points to 49% good to excellent while spring wheat ratings also fell by 3 points to 54%. 19% of winter wheat is harvested, 93% of spring wheat is emerged, and 17% is headed.
• The CFTC report saw funds as buyers of wheat, they bought back 12,658 contracts of Chicago wheat which reduced their net short position to 81,353 contracts. They bought back 12,813 contracts of KC wheat leaving them short 62,151 contracts.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading lower to start the week following weekend strikes by the US into Iranian nuclear sites. Further retaliation could cause the Strait of Hormuz to be closed which would be bullish for all energy commodities including ethanol.
• Friday’s export sales report saw corn sales above expectations at 1,059k tons. This compared to 762k last week and 605k tons a year ago. Primary destinations were to Japan, Mexico, and South Korea.
• In Brazil, corn prices have moved lower as trade expects high supplies in the coming weeks from a large second crop corn which is now estimated at 101 mmt, up 12% from the last record.

• Soybeans are trading slightly lower to start the day but remain near the top of their range. Soybean meal is trading lower, but bean oil is following crude higher in the fallout of the strikes on Iran.
• Friday’s export sales report saw soybean sales above expectations at 615 mmt which compared to 120k tons last week and 641k a year ago at this time. Top buyers were Mexico, Germany, and unknown.
• Chinese soybean imports from Brazil for the month of May increased by 37.5% year over year. They bought 12.11 mmt from Brazil which compared to 8.81 mmt last year, and they bought just 1.63m mmt from the US.

• All three wheat classes are trading slightly lower to start the week but remain near their highest levels in months. July Chicago wheat has met some resistance at the 200-day moving average, but a close above that level could see a move to 6 dollars.
• Friday’s export sales report saw wheat sales within trade expectations at 427k tons which compared to 389k last week and 579k a year ago. Top buyers were Taiwan, the Philippines, and Venezuela.
• In Kansas there were reports last week that storms with winds of up to 100 mph caused significant damage to the wheat crop. In other wheat areas, conditions are too wet which could pose more problems.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading higher to start the day, but July futures remain at support near recent lows while new crop December is closer to the middle of its trading range near the 50-day moving average.
• Estimates for today’s export sales report see corn sales in a range between 650k and 1,400k tons with an average guess of 963k. This would compare to 762k a week ago and 605k a year ago.
• In Brazil, the second crop corn harvest is ongoing which is likely adding pressure to US prices. In the US, weather has been good but is expected to turn dry.

• Soybeans are trading higher along with corn and are at the top of their recent trading range. Gains in soybean oil have set the stage for this rally as trade looks for increased biodiesel demand. Meal is lower today while bean oil is higher.
• Chinese soybean imports from Brazil for the month of May increased by 37.5% year over year. They bought 12.11 mmt from Brazil which compared to 8.81 mmt last year, and they bought just 1.63m mmt from the US.
• Estimates for today’s export sales report see soybean sales in a range between 150k and 500k tons with an average guess of 313k tons. This would compare to 120k last week and 582k a year ago.

• All three wheat classes are lower this morning following extremely impressive gains on Wednesday that saw futures up more than 25 cents to close the day. Weather and fund short covering were the primary reasons for the move.
• In Kansas there have been early reports that storms on Tuesday with winds of up to 100 mph caused significant damage to the wheat crop. In other wheat areas, conditions are too wet which could pose more problems.
• Estimates for today’s export sales report see wheat sales in a range between 300k and 600k tons with an average guess of 425k tons. This would compare to 389k last week and 579k tons a year ago.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading slightly higher this morning but still remains near support levels at $4.30 in the July contract. Improving wheat prices have likely kept corn from sliding lower as a large crop is expected.
• Estimates for the weekly EIA report see ethanol production coming in lower than last week at 1.106m barrels per day while stockpiles are expected to be higher at 23.957m bbl.
• In Brazil, the second crop corn harvest is ongoing which is likely adding pressure to US prices. In the US, weather has been good but is expected to turn dry.

• Soybeans are trading lower this morning and are at the top end of their recent range following the bullish soybean oil news. Crude oil has begun to rally with war escalating between Israel and Iran which could lend further support to soybeans.
• Soybean meal is slightly higher while soybean oil is lower, and the two have had an inverse relationship recently as more soybean crush will create excess meal. There was a flash sale announced yesterday of 200k tons of meal to unknown destinations.
• China released their import figures from May which showed that soybean imports increased by 26.2% year over year to 13.92m tons. Chinese exports of rare earth fell by 31.3% in May.

• Wheat is trading higher again to start the day as a slow start to US harvest coupled with crop ratings that are well below those of a year ago provide support. 10% of winter wheat has been harvested compared to 25% at this time last year.
• The export duty on Russian wheat exports have fallen by 13.3% to 566 rubles per ton from 652.5 the previous week. The new rate will be in effect until June 24 and should be supportive to Russian exports.
• In Ukraine, a dry weather pattern is now forecast which could threaten wheat production. So far, production estimates are unchanged at 20.1 mmt, but this number could decrease.

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

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