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All prices as of 6:30 am Central Time

• Dalian, Brazil, and Matif corn futures all lower on expectations of higher supply.
• US domestic basis softens amid potential farmer selling; the Sep-Dec spread at -21 points to ample domestic supply.
• Warmer, drier Black Sea weather, lower wheat prices boosting feed use, and higher US yield estimates all pressure corn prices ahead of the Aug. 12 USDA report.

• Soybeans and soymeal fell on negative US/China politics and higher US supply talk, while soyoil and palm oil rose.
• There were 518 soymeal deliveries (442 commercial), Brazil crushers consider slowing/shutdown amid poor margins; soyoil drops on profit-taking.
• Origination challenges keep Brazil basis firm; record exports of 31 mmt for Feb-July.  Buyers extend soymeal coverage at near-decade-low prices.

• Funds expected to roll wheat shorts to Dec as technical and fundamental signals worsen.
• Improving Australian crop and ample exporter supplies heighten Oct-Mar export competition.
• US export pace points to approximately 23.1 mmt, just below the strongest level (24 mmt) since 2020.

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 after December had its lowest close ever yesterday and made a new contract low again overnight. Trade is still expecting a large crop as ratings have remained firm.
• Yesterday’s Crop Progress report saw crop ratings for corn unchanged from last week at 73% good to excellent which compared to 67% a year ago at this time. 88% of the crop is silking, 42% is in dough stage, and 6% is dented.
• Yesterday’s export inspections were once again solid for corn at 1,208k tons which compared to 1,532k last week and 1,272k a year ago.

• Soybeans are higher to start the day, but the November contract still struggles with resistance at the $10 mark. A close above $10 would be bullish and would make that level new support. Both soybean meal and oil are higher as well.
• Yesterday’s Crop Progress report saw soybean ratings fall one point from last week to 69% good to excellent, but trade expected this. 58% of the soybean crop is setting pods and 85% is blooming.
• Yesterday’s export inspection report saw soybean sales still sluggish but ahead of last week at 613k tons. This compared to 428k last week and 267k a year ago.

• Wheat is mixed this morning with Chicago and KC slightly lower while Minneapolis trades higher. Weather in Russia and Ukraine could start to lean drier which could cut yield potential.
• Yesterday’s Crop Progress report saw spring wheat crop ratings fall by 1 point from last week at 48% good to excellent. 95% of the spring wheat crop is headed and 5% is harvested. 86% of the winter wheat crop is harvested.
• Yesterday’s export inspections were decent for wheat at 600k tons which compared to 290k tons the previous week and 471k a year ago at this time.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading lower this morning as the market shifts its attention back to private yield estimates ahead of the WASDE report this month and normal weather conditions for August.
• The US reportedly used 448 million bushels of corn for ethanol in June which was down 0.1% from a year ago but was up slightly from last month’s 496,454 mb.
• Friday’s CFTC report saw funds as sellers of corn as of July 29. They sold 3,820 contracts which increased their net short position to 181,185 contracts.

• Soybeans are trading lower to start the day and have likely been pressured by the increasing tariffs along with good weather last month and less harsh weather expected for August. Soybean meal is higher while bean oil is lower. OPEC agreed to another hike in oil output which is pressuring crude.
• US soybean crushings for the month of June came in at 197.1 million bushels which was 7.4% higher than this time last year, but crush was down from the previous month’s 203.70 mb.
• Friday’s CFTC report saw funds as sellers of 25,445 contracts of soybeans which increased their net short position to 36,311 contracts. They bought 11,274 contracts of bean oil and sold 3,615 contracts of meal.

• Wheat is mixed to start the day with Chicago trading either side of unchanged while both KC and Minneapolis wheat are slightly lower. Ukrainian wheat output has been revised down by 2.8 mmt which should be supportive.
• In Argentina, recent rains have improved soil moisture reserves in wheat growing areas, and now nearly all of the planted area is in normal to optimal condition. 98.3% of the wheat crop has been planted.
• Friday’s CFCT report saw funds as sellers of Chicago wheat by 13,283 contracts which left them short 65,324 contracts. They sold 3,321 contracts of KC wheat which left them with a net short position of 47,280 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 futures are trading slightly higher heading into the weekend with the December contract looking to have found some support near the $4.10 level.
• Yesterday, President Trump increased tariffs on Canada to 35% from 25%, and the new rates go into effect today. The president raised tariffs on 90 other countries yesterday as well.
• Yesterday’s export sales report saw corn sales at a very strong 2,233k tons which compared to 1,377k last week and 879k a year ago. Top buyers were unknown, South Korea, and Mexico.

• Soybeans are trading lower to start the day and have likely been pressured by the tariff increase announcement on nearly all trading partners. Soybean meal is once again higher while bean oil is lower.
• Soybeans have closed lower in six of the last seven sessions, as traders grow increasingly concerned that the upcoming August WASDE report could show higher-than-expected yields. A larger crop, combined with weak export demand, raises the risk of a heavier carryout.
• Yesterday’s export sales report saw soybean sales at 779k tons which compared to 400k last week and 1,009k a year ago. Top destinations were to Mexico, unknown, and Egypt.

• All three wheat classes are trading lower this morning. The higher dollar index, along with the tariff announcement, has pressured grains, but wheat is hovering near support.
• In Argentina, recent rains have improved soil moisture reserves in wheat growing areas, and now nearly all of the planted area is in normal to optimal condition. 98.3% of the wheat crop has been planted.
• Yesterday’s export sales report saw wheat sales decent at 630k tons which compared to 712k last week and 287k a year ago. Top buyers were unknown, the Philippines, and Ecuador.

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 lower this morning with the December contract just 4 cents off contract lows. While exports have been solid, trade is focused on potentially strong yields.
• US ethanol stocks rose by 1.1% to 24.716m bbl which was above analyst expectations. Plant production was seen at 1.096m b/d which was above the trade guess.
• Estimates for today’s export sales report see corn sales in a range between 1,000k and 1,900k tons with an average guess of 1,517k tons. This would compare to 1,377k last week and 879k a year ago.

• Soybeans are trading lower again this morning and are on track for a fifth consecutively lower close. Today is first notice day for August soybean futures. Both soybean meal and oil are lower as well.
• Soybeans have closed lower in six of the last seven sessions, as traders grow increasingly concerned that the upcoming August WASDE report could show higher-than-expected yields. A larger crop, combined with weak export demand, raises the risk of a heavier carryout.
• Estimates for today’s export sales report see soybean sales in a range between 250k and 900k tons with an average guess of 517k tons. This would compare to 400k last week and 884k a year ago.

• Wheat futures are mixed to start the day with all three classes near unchanged. Funds have aggressively sold wheat this week as they look for larger Russian production and slow export sales.
• Bangladesh will reportedly purchase 220,000 tons of US wheat to cool tariff tensions. Steep tariffs were imposed by President Trump, and the country looks to see these lowered.
• Estimates for today’s export sales report see wheat sales in a range between 300k and 700k tons with an average guess of 525k tons. This would compare to 712k last week and 287k a year ago at this time.

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 fractionally higher this morning after testing recent lows yesterday. 
• The past two nights brought severe weather to parts of the western Corn Belt. While high winds caused damage to buildings and structures, early reports suggest crop damage was mostly limited.
• USDA reported a private sale of 225,000 metric tons of U.S. corn to Mexico for delivery in the 2025‑26 marketing year yesterday.

• Soybean futures are slightly lower to start the day, as ongoing moisture and cooler temperatures across much of the Midwest continue to support strong yield potential.
• Traders remain optimistic that U.S. and Chinese officials will agree to a 90-day tariff truce, easing concerns about a further escalation in the trade conflict.
• Soybeans have closed lower in six of the last seven sessions, as traders grow increasingly concerned that the upcoming August WASDE report could show higher-than-expected yields. A larger crop, combined with weak export demand, raises the risk of a heavier carryout.

• Wheat futures are trading near unchanged this morning, with a mixed tone across the three classes as markets await fresh direction.
• Wheat traders are monitoring the upcoming August 1 tariff deadline set by President Trump. A failure to reach progress in U.S.-China trade talks could lead to renewed tariffs, potentially dampening export prospects and adding pressure to wheat prices.
• USDA Crop Progress for the week showed U.S. winter wheat harvest at 80%, just 1 point behind the five-year average. Spring wheat is 95% headed, 3 points below normal, with harvest just beginning at 1% complete.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading lower this morning as improving forecasts and expected large production pressure futures despite strong export demand.
• Yesterday’s Crop Progress report saw corn good to excellent conditions falling 1 point from last week to 73%, but it is above last year’s 68% at this time. 76% of the crop is silking and 26% is in dough stage.
• Yesterday’s export inspections were good for corn at 1,522k tons which was above the average trade guess and compared to 985k last week and 1,071k a year ago. Top destinations were to Japan, Mexico, and Colombia.

• Soybeans are lower to start the day as a result of improving crop ratings and more moderate temperatures coming in August along with better chances for rain. Both soybean meal and oil are lower as well.
• The Crop Progress report saw good to excellent ratings for soybeans improve by 2 points from last week to 70% good to excellent. This compares to 67% last year at this time. 76% of the crop is blooming and 41% is setting pods.
• Yesterday’s export inspections were decent at 410k tons which compared to 377k last week and 409k a year ago. Top destinations were to Egypt, the Netherlands, and Mexico. 

• All three wheat classes are lower this morning despite yesterday’s bullish Crop Progress report. The dollar is higher which could be pressuring wheat, and the Australian wheat crop’s conditions have reportedly improved.
• Yesterday’s Crop Progress report saw spring wheat crop conditions fall 3 points to 49% good to excellent with 92% headed and 1% harvested. Winter wheat is now 80% harvested.
• Yesterday’s export inspections were poor for wheat at 289k tons which compared to 732k last week and 468k tons a year ago. Top destinations were to Nigeria, Japan, and Mexico.  

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading lower to start the day as weather forecasts have become more favorable to end July and heading into August throughout the Corn Belt. The trade deal with the EU should keep export demand from the country strong.
• US ethanol stocks rose by 3.4% to 24.44 m bbl from 23.635m bbl last week. This was above analyst expectations. Plant production was at 1.078m b/d which was below the survey guess of 1.082m.
• Friday’s CFTC report saw funds as sellers of corn as of July 22 by 2,610 contracts which left them with a net short position of 177,365 contracts.

• Soybeans are trading lower for the second consecutive day and are back below all major moving averages with the $10.30 mark resistance for the November contract. Both soybean meal and oil are lower today as well.
• Positive trade deals with the EU, the Philippines and Japan have been slightly supportive and there are trade talks occurring with China as well, but the improved forecasts in the Corn Belt and strong crop ratings have kept soybeans from rallying.
• Friday’s CFTC report saw funds as buyers of soybeans by 21,412 contracts which reduced their net short position to 10,866 contracts. They bought back 12,105 contracts of bean oil and bought 3,273 contracts of meal.

• All three wheat classes are trading lower this morning along with the rest of the grain complex on better weather forecasts and a sharp increase in the US dollar.
• The U.S. North Dakota wheat tour concluded and pegged the final 3-day total weighted average yield estimate at 48.3 bpa from 307 fields. The average spring wheat yield was at 49.0 bpa and was from 292 fields. This compared to last year’s yields of 53.8 and 54.5 bpa respectively.
• Friday’s CFTC report saw funds as buyers of Chicago wheat by 8,446 contracts which reduced their net short position to 52,041 contracts. They also bought back 4,043 contracts of KC wheat which left them with a net short position of 43,959 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 this morning as trade continues to expect a huge crop. The August forecast seems to be getting less severe as far as the heat and precipitation.
• Yesterday’s export sales were decent at 25.3 million bushels of old crop corn sales which was well above last week’s marketing year low of 3.8 mb. Shipments of 41.7 mb were below the weekly average needed. Top destinations were to unknown, Mexico, and Japan.
• US ethanol stocks rose by 3.4% to 24.44 m bbl from 23.635m bbl last week. This was above analyst expectations. Plant production was at 1.078m b/d which was below the survey guess of 1.082m.

• Soybeans are trading lower with the November contract now below all major moving averages. Trade has been mostly rangebound to lower throughout the week. Both soybean meal and oil are trading lower.
• Positive trade deals with the Philippines and Japan have been slightly supportive, and there are trade talks occurring with China as well, but the good conditions in the Corn Belt and strong crop ratings have kept soybeans from rallying.
• Yesterday’s export sales were disappointing with old crop shipments at just 13.3 million bushels, below the 17.1 mb needed each week. Top buyers were Mexico, the Netherlands, and Egypt.

• All three wheat classes are trading lower to start the day as the higher dollar pressures the entire grain market. Funds may also be taking some profit ahead of the weekend.
• The U.S. North Dakota wheat tour concluded and pegged the final 3-day total weighted average yield estimate at 48.3 bpa from 307 fields. The average spring wheat yield was at 49.0 bpa and was from 292 fields. This compared to last year’s yields of 53.8 and 54.5 bpa respectively.
• Yesterday’s export sales report saw wheat sales at 26.2 million bushels which was the largest weekly total for the season in two months. Top buyers were Indonesia, Taiwan, 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 to start the day as support from the US- Japan trade deal helps prices. Japan is the second largest buyer of US corn and imported 73% of its needs from the US in 23.24.
• US ethanol stocks rose by 3.4% to 24.44 m bbl from 23.635m bbl last week. This was above analyst expectations. Plant production was at 1.078m b/d which was below the survey guess of 1.082m.
• Estimates for today’s export sales report see corn sales in a range between 600k and 1,400k tons with an average guess of 975k tons. This would compare to 663k last week and 1,077k a year ago at this time.

• Soybeans are higher to start the day with the November contract still consolidating among all its major moving averages. Both soybean meal and oil are trading higher as is crude oil.
• Positive trade deals with the Philippines and Japan have been slightly supportive, and there are trade talks occurring with China as well, but the good conditions in the Corn Belt and strong crop ratings have kept soybeans from rallying.
• Estimates for today’s export sales report see soybean sales in a range between 400k and 800k tons with an average guess of 600k. This would compare to 801k last week and 918k a year ago at this time.

• All three wheat classes are trading higher along with the rest of the grain complex, but wheat prices have traded sideways for around a week now. Harvest pressure is having trouble driving already low prices lower.
• U.S. ND wheat tour pegs first-day yield at 50 bpa (vs 52 last year, 45 avg); U.S. carryout seen at 895M bu with higher exports offsetting lower feed use.
• Estimates for today’s export sales report see wheat sales in a range between 250k and 500k tons with the average guess at 388k tons. This would compare to 494k a week ago and 309k last year.

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

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

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