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We are excited to offer you a new way to follow the markets!   While CME Group policy changes mean our daily updates will no longer show pricing data, you can now explore our interactive quote board, featuring up-to-date charts to help you track market trends.

Grain Market Insider Interactive Quote Board

• Corn futures are lower this morning with September down 3/4 cents to $3.78-3/4 and December down 2 cents to $4.01-1/4. 
• ProFarmer Crop Tour finds IN corn yield at 193.8 and NE at 179.5.  The IN yield is the highest since tour started in 2003 and NE is the highest since 2021.
• Dalian corn hits a new contract low; U.S. sales to Mexico supportive, but dry Midwest weather, cooler temps, and weak export demand provide resistance.

Corn Futures Attempt to Bounce: After a quiet May–July stretch, corn futures broke support near 391 to start August. However, losses tied to last week’s bearish USDA report were quickly reversed with a strong finish to the week. With December now the front month, a gap sits below the market between 380 and 400. On the upside, targets include an unfilled gap at 413, resistance at 420, and a second gap near 430. 

• Soybeans are mixed with the September contract up 1/4 cent at $10.1325, November down 1 cent at $10.32-3/4, Sep meal up 3.40 dollars at $290.80, and Sep bean oil down 0.38 cents to 51.30 cents. 
• ProFarmer tour shows lower IN pod counts (1,376 vs 1,409 LY) but record-high NE (1,348 vs 1,172 LY).
• Soymeal strength continues to offset weaker soyoil with Sep crush up towards 191.  Dalian oils complex trades lower, American Soybean Association urges Trump for China trade deal, and Brazil may curb crush on poor margins.

Soybeans Rally Through Resistance: Soybean futures rallied sharply in early August after a bullish USDA report cut 2.5 million acres from 2025 harvested area projections. Prices broke through resistance near 1030 and have since held above it, with this zone now acting as support on any pullback. On the upside, the next key resistance stands at the spring highs near 1080, a level that has capped rallies for the past year. 

• The wheat markets are trading mixed this morning with  September Chicago up 1-3/4 cents at $5.0025,  Sep KC wheat down 3/4 cents to $4.9875, and September Mpls wheat up 1-1/2 cents to $5.7000. 
• USDA may be overstating world wheat trade by 8-10 mmt; Argentina and Australia futures hit new lows; EU exports down 14% vs last year.
• Russia’s Jul-Aug exports off 38% yoy as new vessel approval rules stall loadings; terminals overflowing with 120 ships awaiting clearance.

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. 

We are excited to offer you a new way to follow the markets!   While CME Group policy changes mean our daily updates will no longer show pricing data, you can now explore our interactive quote board, featuring up-to-date charts to help you track market trends.

Grain Market Insider Interactive Quote Board

• Corn futures are lower this morning with September down 3-1/4 cents to $3.79-3/4 and December down 3-3/4 cents to $4.02-3/4. This comes following large yield numbers from the crop tour and good USDA crop ratings.
• The ProFarmer Crop Tour has wrapped up in Ohio and in South Dakota. In Ohio, corn yield was estimated at 185.69 bpa which compared to 196 bpa from the WASDE report but is above last year’s 183.29 bpa. In South Dakota, yields were seen at 174.18 bpa which was above the USDA guess of 168 bpa.
• Yesterday’s Crop Progress report saw corn ratings fall one point from last week to 71% good to excellent with 97% silking, 72% in dough stage, 27% dented, and 3% mature.

Corn Futures Attempt to Bounce: After a quiet May–July stretch, corn futures broke support near 391 to start August. However, losses tied to last week’s bearish USDA report were quickly reversed with a strong finish to the week. With December now the front month, a gap sits below the market between 380 and 400. On the upside, targets include an unfilled gap at 413, resistance at 420, and a second gap near 430. 

• Soybeans are slightly higher with the September contract up 1/4 cent at $10.20-3/4. November up 1/4 cent at $10.41-3/4, Sep meal up $5.10 at $285.50, and Sep bean oil down 0.69 cents to 52.58 cents. Soybeans are now technically overbought.
• The ProFarmer tour saw soybean results above last year in both Ohio and South Dakota. In Ohio, number of pods in a 3’x3′ plot were 1287.28 which compared to 1229.93 last year. In SD, they were 1188.45 compared to 1025.89 last year.
• The Crop Progress report saw soybean conditions unchanged at 68% good to excellent with 95% of the crop blooming and 82% setting pods, both on par with the 5-year average.

Soybeans Rally Through Resistance: Soybean futures rallied sharply in early August after a bullish USDA report cut 2.5 million acres from 2025 harvested area projections. Prices broke through resistance near 1030 and have since held above it, with this zone now acting as support on any pullback. On the upside, the next key resistance stands at the spring highs near 1080, a level that has capped rallies for the past year. 

• All three wheat classes are trading lower with September Chicago down 2-3/4 cents at $5.00, and it did slip below that level overnight. Sep KC wheat is down 4-1/2 cents at $5.02. There has been talk about larger global production despite the USDA lowering that number in the WASDE report.
• Spring wheat crop conditions rose 1 point from last week to 50% good to excellent with 36% of the crop now harvested, on par with the 5-year average. The winter wheat harvest is now 94% complete which is also on par with recent years.
• Yesterday’s export inspections report saw wheat inspections at 395k tons which compared to 415k last week and 374k tons a year ago. Top destinations were Mexico, Japan, and Republic of South Africa.

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. 

We are excited to offer you a new way to follow the markets!   While CME Group policy changes mean our daily updates will no longer show pricing data, you can now explore our interactive quote board, featuring up-to-date charts to help you track market trends.

Grain Market Insider Interactive Quote Board

• Corn futures are trading lower to start the day with the December contract remaining in its downward channel. Friday’s rally brought it to the top of this channel, but no important technical resistance has been broken yet.
• Analyst group ASAP Agri increased its estimate for the 2025 Ukrainian corn harvest to 30.9 mmt from its previous estimate of 27.6 mmt citing favorable weather and key rains in July.
• Friday’s CFTC report saw funds as sellers of corn. They sold 2,364 contracts as of August 12 which left them with a net short position of 176,114 contracts.

Corn Futures Slump to Start August: After a quiet May–July stretch, corn futures broke support near 391 to start August. A weekly close below this level could shift focus to the August 2024 low near 360, while upside targets include an unfilled gap at 413, resistance at 420, and a second gap at 430. 

• Soybeans are trading lower following significant gains on Friday and gains of a whopping 55 cents last week in the November contract which was kicked off by a bullish WASDE report. November futures remain above all major moving averages. Both soybean meal and oil are lower as well.
• On Friday, NOPA crush numbers were released, and July crush jumped to 195.699 million bushels which was well above the average trade guess of 190.8 mb and was a six-month high for the month of July. It was up 5.6% from the June’s 185.27 mb.
• Friday’s CFTC report saw funds as buyers of soybeans by 30,660 contracts which reduced their net short position to 35,270 contracts. They sold 10,527 contracts of bean oil and bought back 24,238 contracts of meal.

Soybeans Test April Lows: Soybean futures remain locked in a broader sideways trend after failing to clear key resistance at the May high of $10.82 in mid-June. With largely favorable weather throughout much of the growing season, the market has struggled to build bullish momentum, and the path of least resistance has remained lower. Technically, a breakout above the 100-day moving average could open the door to filling the gap left over the July 4th weekend near $10.50. On the downside, initial support is seen around the $10.00 mark, with stronger technical support at the April lows near $9.80.

• All three wheat classes are trading lower this morning and are likely following the downward momentum of corn and soybeans. September Chicago wheat has managed to hold firm support above the 5-dollar mark.
• The US dollar is trading higher which may be pressuring the grain complex as a whole. Poor inflation and jobs data released recently, and Jerome Powell will speak at a central bank meeting this week potentially providing a decision on interest rate cuts.
• Friday’s CFTC report saw funds as sellers of Chicago wheat by 8,526 contracts which left them with a net short position of 89,295 contracts. They bought back 6,508 contracts of KC wheat leaving them short 50,555 contracts.

Chicago Wheat Holds Range: Chicago wheat’s sharp rally in mid-June proved short-lived, with futures retreating toward the upper end of their 2025 trading range. Initial support is expected just above the 500 level, which marked the lows back in May and has since acted as a solid floor. On the upside, a weekly close above 558 would be seen as a constructive technical signal and could open the door for a retest of the recent highs near 590.

KC Wheat Pulls Back Below Key Averages, Support at June Lows: KC wheat futures saw a strong rally in June, briefly testing the April highs near 580. However, late-month weakness pulled prices back below both the 100 and 200-day moving averages, which now serve as key resistance levels. On the downside, initial support is seen at the June low of 517.75, with secondary support near the May low around 500.

Spring Wheat Futures Test Key Support After July Slide: Spring wheat futures have come under pressure in July, weighed down by improving crop conditions and generally favorable weather across key growing areas. Technically, a cluster of major moving averages just above the 600 mark presents the first layer of upside resistance, with a chart gap near 650 serving as a secondary target if momentum builds. On the downside, the May lows near 580 should provide firm support in the event of 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. 

We are excited to offer you a new way to follow the markets!   While CME Group policy changes mean our daily updates will no longer show pricing data, you can now explore our interactive quote board, featuring up-to-date charts to help you track market trends.

Grain Market Insider Interactive Quote Board

• Corn is trading slightly higher this morning after December futures ended the day unchanged yesterday and are now just below the $4.00 mark. Futures seem to have found some support around the $3.90 area.
• Yesterday’s export sales were ok for corn at 1,959k tons but were down sharply from last week’s 3,334k and compared to 921k a year ago. Top buyers were Mexico, Japan, and Taiwan.
• Estimates for the CONAB report see corn planted acreage increasing to 231,680k hectares, up 121k from last month. Yield is also expected to rise by 198 kg/ha of 15.2%

Corn Futures Slump to Start August: After a quiet May–July stretch, corn futures broke support near 391 to start August. A weekly close below this level could shift focus to the August 2024 low near 360, while upside targets include an unfilled gap at 413, resistance at 420, and a second gap at 430. 

• Soybeans are trading higher this morning following sharp losses yesterday that were mainly caused by lower soybean oil and fears over poor export demand from China. Both soybean meal and oil are higher this morning.
• Projections for the NOPA crush report see July soybean crush at 190.8 million bushels. This would be up 4.3% from July last year and up 2.7% from the previous month.
• Yesterday’s export sales report saw soybean sales fall from last week to 755k tons. This compared to 1,013k last week and 1,566k a year ago at this time. Top buyers were unknown, Mexico, and the Netherlands.

Soybeans Test April Lows: Soybean futures remain locked in a broader sideways trend after failing to clear key resistance at the May high of $10.82 in mid-June. With largely favorable weather throughout much of the growing season, the market has struggled to build bullish momentum, and the path of least resistance has remained lower. Technically, a breakout above the 100-day moving average could open the door to filling the gap left over the July 4th weekend near $10.50. On the downside, initial support is seen around the $10.00 mark, with stronger technical support at the April lows near $9.80.

• Wheat is mixed this morning with Chicago wheat slightly higher while KC and Minneapolis trade lower. Today, President Trump and Putin will meat to discuss ending the war in Ukraine, and the results may impact wheat.
• Yesterday’s export sales were decent for wheat at 723k tons. This compared to 738k last week and 273k a year ago. Top buyers were South Korea, Mexico, and the Philippines.
• In Germany, the 2025 grain output forecast has been raised for both wheat and corn. Total grains are estimated at 43 mmt up from 41.7 mmt last month with wheat at 22.4 mmt compared to 21.6 mmt a month ago. This is due to larger acreage and better yields than expected. 

Chicago Wheat Holds Range: Chicago wheat’s sharp rally in mid-June proved short-lived, with futures retreating toward the upper end of their 2025 trading range. Initial support is expected just above the 500 level, which marked the lows back in May and has since acted as a solid floor. On the upside, a weekly close above 558 would be seen as a constructive technical signal and could open the door for a retest of the recent highs near 590.

KC Wheat Pulls Back Below Key Averages, Support at June Lows: KC wheat futures saw a strong rally in June, briefly testing the April highs near 580. However, late-month weakness pulled prices back below both the 100 and 200-day moving averages, which now serve as key resistance levels. On the downside, initial support is seen at the June low of 517.75, with secondary support near the May low around 500.

Spring Wheat Futures Test Key Support After July Slide: Spring wheat futures have come under pressure in July, weighed down by improving crop conditions and generally favorable weather across key growing areas. Technically, a cluster of major moving averages just above the 600 mark presents the first layer of upside resistance, with a chart gap near 650 serving as a secondary target if momentum builds. On the downside, the May lows near 580 should provide firm support in the event of 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. 

We are excited to offer you a new way to follow the markets!   While CME Group policy changes mean our daily updates will no longer show pricing data, you can now explore our interactive quote board, featuring up-to-date charts to help you track market trends.

Grain Market Insider Interactive Quote Board

• Corn futures are lower to start the day erasing yesterday’s gains so far. While a decline in the Dollar index yesterday was supportive, traders are still faced with a huge crop and estimated carryout of over 2 billion bushels. 
• Estimates for today’s export sales report see corn sales in a range between 1,150k and 2,800k tons with an average guess of 1,967k. This would compare to 3,334k last week and 921k tons a year ago at this time. 
• US ethanol stocks fell by 4.7% to 22.649m bbl which was well below the average analyst estimate of 23.722m. Plant production came in higher at 1.093m barrels per day. 

Corn Futures Slump to Start August: After a quiet May–July stretch, corn futures broke support near 391 to start August. A weekly close below this level could shift focus to the August 2024 low near 360, while upside targets include an unfilled gap at 413, resistance at 420, and a second gap at 430. 

• Soybeans are trading lower to start the day following three days of very sharp gains that were fueled by a surprise reduction in acreage in Tuesday’s WASDE report. Soybean meal is trading higher while soybean oil is lower. 
• Estimates for today’s export sales report see soybean sales in a range between 450k and 1,600k tons with an average guess of 950k tons. This would compare to 1,013k last week and 1,481k a year ago at this time. 
• In Brazil, soybean production is expected to rise by nearly 1 mmt to 170.5 mmt as a result of better than expected yields. The USDA has not yet increased production estimates for Brazil. 

Soybeans Test April Lows: Soybean futures remain locked in a broader sideways trend after failing to clear key resistance at the May high of $10.82 in mid-June. With largely favorable weather throughout much of the growing season, the market has struggled to build bullish momentum, and the path of least resistance has remained lower. Technically, a breakout above the 100-day moving average could open the door to filling the gap left over the July 4th weekend near $10.50. On the downside, initial support is seen around the $10.00 mark, with stronger technical support at the April lows near $9.80.

• Wheat is mixed to start the day with Chicago and KC wheat trading lower along with the rest of the grains while Minneapolis wheat is slightly higher. Despite a relatively friendly USDA report, wheat has struggled near the $5 level with larger Russian and Ukrainian production weighing on prices along with US harvest. 
• Estimates for today’s export sales report see wheat sales in a range between 400k and 850k tons with an average guess of 600k tons. This would compare to 738k last week and 273k a year ago at this time. 
• In Germany, the 2025 grain output forecast has been raised for both wheat and corn. Total grains are estimated at 43 mmt up from 41.7 mmt last month with wheat at 22.4 mmt compared to 21.6 mmt a month ago. This is due to larger acreage and better yields than expected. 

Chicago Wheat Holds Range: Chicago wheat’s sharp rally in mid-June proved short-lived, with futures retreating toward the upper end of their 2025 trading range. Initial support is expected just above the 500 level, which marked the lows back in May and has since acted as a solid floor. On the upside, a weekly close above 558 would be seen as a constructive technical signal and could open the door for a retest of the recent highs near 590.

KC Wheat Pulls Back Below Key Averages, Support at June Lows: KC wheat futures saw a strong rally in June, briefly testing the April highs near 580. However, late-month weakness pulled prices back below both the 100 and 200-day moving averages, which now serve as key resistance levels. On the downside, initial support is seen at the June low of 517.75, with secondary support near the May low around 500.

Spring Wheat Futures Test Key Support After July Slide: Spring wheat futures have come under pressure in July, weighed down by improving crop conditions and generally favorable weather across key growing areas. Technically, a cluster of major moving averages just above the 600 mark presents the first layer of upside resistance, with a chart gap near 650 serving as a secondary target if momentum builds. On the downside, the May lows near 580 should provide firm support in the event of 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. 

All prices as of 6:30 am Central Time

•  Corn is trading higher this morning following yesterday’s sell-off caused by a very bearish WASDE report. Yesterday, December corn made a new contract low and has not taken out that low yet today.
• Yesterday’s WASDE report was very bearish withe the USDA pegging the 25/26 yield at 188.8 bpa while the average guess was 184.3 bpa. 25/26 ending stocks are now expected at 2.12 billion bushels, up from 1.66 bb expected in July.
• Estimates for the weekly EIA report see ethanol production slightly higher than last week at 1.084m b/d. Stockpiles are expected lower at 23.722m bbl.

• Soybeans are trading higher following yesterday’s big rally and surprisingly bullish WASDE report. November futures are trading at the highest level since the previous July 18 high. Both soybean meal and oil are trading higher.
• Yesterday, the USDA surprised traders by decreasing planted acreage for soybeans which sharply cut the 25/26 ending stocks to 290 mb from an average guess of 358 mb. Yield was raised to 53.6 bpa, but the crop will still be smaller than expected.
• The US is reportedly losing out on Chinese soybean sales as Brazil fills their needs during this key export period for the US. President Trump has tried to encourage China to buy, but they have been absent.

• Wheat is mixed to start the day with Chicago wheat higher while KC and Minneapolis wheat trade lower. Yesterday, wheat prices fell sharply even with a slightly friendly USDA report, wheat seemed to follow corn lower.
• Yesterday’s report saw wheat ending stocks for 25/26 down to869 mb from 890 mb last month. World wheat ending stocks were pegged down below trade expectations.
• Monday’s Crop Progress report saw spring wheat conditions improve one point to 49% good to excellent which is still a far cry from last year’s 72% at this time. 16% of the crop has been harvested and 90% of the winter wheat crop has been harvested.

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 as trade prepares for a potentially volatile and bearish USDA report. While a primary focus will be on the yield estimate, export demand will be important to watch as well.
• Estimates for today’s WASDE report see corn yields coming in at 184.3 bpa which is above trendline yield, but the USDA could call yields higher. 25/26 ending stocks are estimated at 1.92 bb and world ending stocks are expected to rise from last month.
• Yesterday’s Crop Progress report saw corn conditions fall one point to 72% good to excellent which was expected. This compares to 67% a year ago. 94% of the crop is silking, 58% is in dough stage, and 14% is dented. 

• Soybeans are trading lower this morning but have backed off more significant lows in overnight trade. Yesterday, it was announced that no trade deal had been struck with China and the tariff truce would be extended again until November 9. Both soybean meal and oil are lower.
• Estimates for today’s WASDE report estimate the soybean yield at 53.0 bpa with production at 4.37 billion bushels, but the yield number could come in higher. Ending stocks are estimated at 358 mb.
• Yesterday’s Crop Progress report saw soybean ratings fall one point to 68% good to excellent which is the same rating seen a year ago at this time. 91% of the crop is blooming and 71% is setting pods, both in line with last year’s progress.

• All three wheat classes are trading lower to start the day as a general bearish tone settles across the grains in anticipation for the USDA report today. Yesterday’s export inspections were sluggish for wheat yesterday which did not help.
• Estimates for wheat ending stocks in today’s USDA report are now at 882 mb which would be down slightly from last month’s 890 mb. World ending stocks are expected to fall slightly.
• Yesterday’s Crop Progress report saw spring wheat conditions improve one point to 49% good to excellent which is still a far cry from last year’s 72% at this time. 16% of the crop has been harvested and 90% of the winter wheat crop has been harvested.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading higher to start the day as futures continue to recover from last week’s low. The 15-day forecast shows little rain and the yield tour this week may show early season dryness in the Western Corn Belt.
• Estimates for next tomorrow’s WASDE report see corn yields coming in at 184.3 bpa which is above trendline yield, but the USDA could call yields higher. 25/26 ending stocks are estimated at 1.92 bb and world ending stocks are expected to rise from last month.
• Friday’s CFTC report saw funds as buyers of corn by 7,435 contracts which left them with a net short position of 173,750 contracts.

• Soybeans are trading sharply higher after President Trump urged China to quadruple the number of soybeans they might buy from the US ahead of the tariff truce deadline, but analysts say this is highly unlikely. Both soybean meal and oil are higher as well.
• Estimates for tomorrow’s WASDE report estimate the soybean yield at 53.0 bpa with production at 4.37 billion bushels, but the yield number could come in higher. Ending stocks are estimated at 358 mb.
• Friday’s CFTC report saw funds as sellers of soybeans by 29,619 contracts increasing their net short position to 65,930 contracts. They sold 11,661 contracts of bean oil and sold 234 contracts of meal.

• Wheat is mixed to start the day with Chicago and Minneapolis trading higher while KC wheat is slightly lower. The HRW wheat harvest is about 75% complete with South Dakota lagging due to rain.
• Estimates for wheat ending stocks in tomorrow’s USDA report are now at 882 mb which would be down slightly from last month’s 890 mb. World ending stocks are expected to fall slightly.
• Friday’s CFTC report saw funds as sellers of 15,445 contracts of Chicago wheat which left them with a net short position of 80,769 contracts. They sold 9,783 contracts of KC wheat leaving them short 57,063 contracts.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading slightly lower to start the day following yesterday’s gains of over five cents. December corn still trades above the $4 mark which is now support. Rains fell in the Corn Belt yesterday which may have added pressure.
• Yesterday’s export sales were very strong for corn at 3,334k tons which was well above last week’s 2,233k and last year’s 735k. Top buyers were unknown, Mexico, and Colombia.
• Estimates for next week’s WASDE report see corn yields coming in at 184.3 bpa which is above trendline yield, but the USDA could call yields higher. 25/26 ending stocks are estimated at 1.92 bb and world ending stocks are expected to rise from last month.

• Soybeans are trading lower this morning as selling pressure resumes following yesterday’s rally. While export sales were good yesterday, China has still been absent as a buyer. Soybean meal is higher while bean oil is trading lower.
• Estimates for next week’s WASDE report estimate the soybean yield at 53.0 bpa with production at 4.37 billion bushels, but the yield number could come in higher. Ending stocks are estimated at 358 mb.
• Yesterday’s export sales were above expectations at 1,013k tons which compared to 779k last week and 1,311 a year ago at this time. Top buyers were Taiwan, Egypt, and the Netherlands.

• Wheat is mixed to start the day with Chicago and KC wheat slightly lower while Minneapolis trades higher. Wheat has struggled to rally without any significant weather problems globally.
• Estimates for wheat ending stocks in next week’s USDA report are now at 882 mb which would be down slightly from last month’s 890 mb. World ending stocks are expected to fall slightly.
• Yesterday’s export sales were better than expectations for wheat at 738k tons which compared to 630k last week and 386k a year ago. Top buyers were Nigeria, Bangladesh, and Mexico.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading higher this morning after December futures plunged down to $3.96-3/4 yesterday before recovering. This could indicate a temporary bottom.
• US ethanol production averaged 1.081 million bpd which was just slightly below the average trade guess of 1.082m, and was below last week’s 1.096m. Ethanol stocks fell by 3.9% to 23.756m bbl and analysts were expecting 24.646m.
• Estimates for today’s export sales report see corn sales in a range between 1,400k and 2,400k tons with an average guess of 1,850k. This would compare to 2,233k last week and 735k a year ago.

• Soybeans are trading higher along with the rest of the grain complex as oversold conditions may be triggering funds to take profit on short positions. Soybean meal is trading higher whole soybean oil is lower once again.
• Estimates for next week’s WASDE report estimate the soybean yield at 53.0 bpa with production at 4.37 billion bushels, but the yield number could come in higher. Ending stocks are estimated at 358 mb.
• Estimates for today’s export sales report see soybean sales in a range between 350k and 1,200k tons with an average guess of 675k. This would compare to 779k last week and 1,311k a year ago.

• All three wheat classes are trading significantly higher to start the day after over a week of falling prices. Yesterday, September wheat bottomed at $5.04 and is now trading at $5.15-1/4.
• Estimates for wheat ending stocks in next week’s USDA report are now at 882 mb which would be down slightly from last month’s 890 mb. World ending stocks are expected to fall slightly.
• Estimates for today’s export sales report see wheat sales in a range between 350k and 700k tons with an average guess of 542k. This would compare to 630k last week and 386k 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.