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All prices as of 6:30 am Central Time

• Corn is trading slightly higher this morning as prices recover from lower trade yesterday and lows made overnight that brought July futures down to $4.35. If corn closes higher today, it would break a streak of 7 lower closes.
• It has been reported that Vietnam is expected to sign trade deals with Washington to buy more than 2 billion dollars worth of US agriculture and vowed to remove all tariffs on US imports. Vietnam is the world’s third largest buyer of US corn.
• Yesterday’s Crop Progress report saw crop ratings for corn improve slightly by 1 point to 68% good to excellent. This was on par with trade guesses. 93% of the crop is planted and 78% is emerged.

• Soybeans are trading higher this morning but remain under all major moving averages in the July and November futures. The move lower has come despite strong crush numbers and an ending stocks number which is estimated to be just 295 mb. Soybean meal is higher while bean oil is lower.
• Yesterday’s census crush report showed a record month for soybean crush in April at 202.3 million bushels that was 14% higher than the previous year and puts total crush 6% higher than a year ago.
• The Crop Progress report saw 67% of the soybean crop rated good to excellent which was a point lower than the average trade guess and was the first soybean rating this year. 84% of the crop is planted and 63% is emerged.

• All three wheat classes are trading lower with Minneapolis wheat leading the way lower and Chicago wheat only down slightly. Both the Chinese wheat belt and Black Sea Regions are to dry which should support wheat further.
• Yesterday’s Crop Progress report for spring wheat saw good to excellent ratings improving by 5 points from last week at 50% which was also above trade estimates. 95% of the crop is now planted and 73% is emerged.
• Crop Progress for winter wheat saw the crop rating improve by 2 points to 52% good to excellent which was also above the trade guess. 83% of the crop and 3% is harvested which compares to 5% at this time 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. 

All prices as of 6:30 am Central Time

• Corn is trading higher this morning to kick off the month with support from a higher wheat complex. Corn prices are near their lowest levels of the year due to beneficial rains that have set the crops up well for a potentially hot and dry summer.
• Friday’s CFTC report saw funds as buyers of corn. The bought back 2,450 contracts which decreased their net short position to 100,760 contracts as of May 27.
• Last week’s export sales report saw corn sales falling from the previous week at 948k tons compared to 1,409k last week. This also compared to 998k a year ago. Top buyers were Mexico, Japan, and Colombia. 

• Soybeans are trading lower this morning despite gains in corn and wheat after President Trump’s negotiations with China appeared not to go anywhere last week frustrating traders. Soybean meal is lower while soybean oil is following crude oil’s sharp move higher.
• Friday’s CFTC report saw funds as buyers of soybeans by 24,043 contracts which left them with a net long position of 36,697 contracts. They sold 3,321 contracts of bean oil and bought back 13,681 contracts of meal.
• Estimates for the US April soybean crush ahead of the USDA report see soybean crush at 202 million bushels which would be up 13.8% from 177.6 mb a year ago at this time. Corn used in ethanol is expected to be higher year over year.

• All three wheat classes are trading higher to start the month with KC wheat leading the way higher. Poor crop ratings for both spring and winter wheat have been supportive along with a reported increase in feed demand at these lower prices.
• Friday’s CFTC report saw funds as buyers of Chicago wheat by 13,681 contracts which left them net short 101,226 contracts. They also bought back 7,667 contracts of KC wheat leaving them short 79,361 contracts.
• The southern plains saw another week of wet conditions along with other hard red areas which could have a positive impact on crop ratings. Crop progress will be released this afternoon with new figures.

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 mixed to start the day with the July contract slightly higher and the deferred months lower. Ethanol production rose 20,000 barrels from a week ago and ethanol stocks fell.
• Estimates for today’s export sales report see corn sales in a range between 800k and 1,600k tons with an average guess of 1,75k tons. This would compare to 1,409k a week ago and would indicate good demand.
• Pressure has come from necessary rains over the past week and more in the forecast throughout the the Corn Belt. Although longer term forecasts maybe hot and dry, these rains are a big benefit.

• Soybeans are trading lower to start the day and are at the bottom of their trading range after falling through the 100-day moving average yesterday and then recovering. Soybean meal is higher while soybean oil is down significantly pulling the complex lower.
• Estimates for today’s export sales report see soybean sales in a range between 150k and 700k tons with an average guess of 353k tons. This would compare to 323k a week ago and 336k tons a year ago at this time.
• Yesterday it was announced that the US trade court ruled that the tariffs imposed on China by President Trump were not legal which could remove the tariffs placed on soybeans and improve demand.

• All three wheat classes are trading higher to start the day and would be the third consecutively higher close following Tuesday’s sharp sell-off. July Chicago wheat is currently down 8 cents on the week.
• Estimates for today’s export sales report see wheat sales in a range between 100k and 800k tons with an average guess of 509k tons. This would compare to 869k last week and 321k a year ago at this time.
• Canadian wheat production is estimated to be lower as a result of dryness in the southern Prairies. Production is estimated to be lowered by 3% to 35.5 mmt as soil moisture conditions deteriorate.

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 today after a sharp drop yesterday as well. The July contract has led the way lower losing 13-1/2 cents on the week so far compared to December which has only lost 10 cents.
• Pressure has come from necessary rains over the past week and more in the forecast throughout the the Corn Belt. Although longer term forecasts maybe hot and dry, these rains are a big benefit.
• Estimates for the weekly EIA report see ethanol production higher than last week at 1.05m barrels per day compared to 1.029m last week. The average stockpile estimate is 24.587m bbl which would be down from a week ago.

• Soybeans are trading slightly higher this morning after rough trade yesterday that saw futures fall 14 cents before stopping at support at the 100-day moving average. Soybean meal is slightly lower while bean oil is higher.
• Weather has been a primary factor in soybeans’ inability to rally, but they have been supported by the 100-day moving average since the middle of April along with tight new crop supplies.
• Last night, the US trade court ruled that the tariffs imposed on China by President Trump were not legal which could remove the tariffs placed on soybeans and improve demand.

• All three wheat classes are trading lower again today despite this week’s crop progress report that saw spring wheat crop ratings well below average guesses at 43%.
• Yesterday morning’s rally following the crop progress numbers was quickly jumped on by sellers as funds continue to take any opportunity to sell higher wheat. They currently hold a net short position in Chicago wheat of around 110,000 contracts.
• Canadian wheat production is estimated to be lower as a result of dryness in the southern Prairies. Production is estimated to be lowered by 3% to 35.5 mmt as soil moisture conditions deteriorate.

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 yesterday’s lower trade. The first look at crop conditions was poorer than expected adding some support, but July corn has struggled to trade above the 200-day moving average.
• Yesterday’s Crop Progress report saw the first crop ratings of the year at 68% good to excellent which was below the trade guess of 73%. 87% of the crop has been planted and 67% is now emerged. 
• After substantial rains last week, the forecast for this week is very light for most of the Corn Belt which should give producers a good opportunity to get planting wrapped up.

• Soybeans are trading lower to start the day but remain relatively rangebound and above all major moving averages. Yesterday, gains in palm and soybean oil were supportive while export inspections were slightly bearish. Today, soybean meal is lower while bean oil is higher.
• Yesterday’s Crop Progress report saw the soybean crop 76% planted which compared to 66% last week and the 5-year average of 68%. 50% of the crop has emerged, and good to excellent ratings will likely come within a few weeks.
• Yesterday’s export inspections came in at 195k tons for soybeans which compared to 225k tons the previous week and 223k tons a year ago at this time. Primary destinations were to Egypt, Mexico, and Taiwan.

• All three wheat classes are trading higher to start the day after yesterday’s sharp sell-off. Yesterday’s move may have come from rain in China’s previously dry Wheat Belt along with rain in dry parts of the EU.
• Yesterday’s Crop Progress for winter wheat showed crop conditions falling by 2 points to 50% good to excellent which compared to 48% a year ago at this time. 75% of the crop is headed which compared to 64% last week.
• For spring wheat, the first crop ratings were released at 45% good to excellent which was significantly lower than the average estimate of 70%. 87% of the crop has been planted and 60% is not emerged.

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 following the long three day weekend and is back below the 200-day moving average. The Crop Progress report will be released this afternoon and traders will get a look at crop condition ratings which are expected to be good.
• After substantial rains last week, the forecast for this week is very light for most of the Corn Belt which should give producers a good opportunity to get planting wrapped up.
• Friday’s CFTC report saw funds as sellers of corn once again. As of May 20, funds sold 18,234 contracts of corn which left them with a net short position of 103,210 contracts.

• Soybeans are trading higher this morning bucking the trend from the rest of the grains which are lower. Higher palm oil and soybean oil futures are supporting prices, and July futures remain above their moving averages.
• Friday’s CFTC report saw funds as sellers of soybeans by 25,753 contracts which left them with a net long position of 12,654 contracts. They sold 10,123 contracts of bean oil and 4,721 contracts of meal.
• In Brazil, soybean prices have begun to increase as a result of news about the US/China trade war along with weather concerns like the flooding in Argentina.

•  Wheat is mixed to start the day with Chicago and KC trading slightly lower while Minneapolis is higher. Despite this morning’s quiet trade, this has been a strong week for wheat with the July contract up 18 cents and well off the contract low.
• Yesterday’s export sales report was friendly for wheat with 869k tons sold, up from 805k last week. Top destinations were to the Philippines, unknown destinations, and Japan.
• There have been very heavy rains recently in Argentina, specifically North of Buenos Aires where 6 to 10 inches of rain caused severe flooding. This precipitation has caused delays in wheat planting with only 3.4% of the crop planted.

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 mixed this morning with the front month slightly higher and the deferred months less than a penny lower in very quiet trade ahead of the holiday weekend.
• Yesterday’s export sales were disappointing compared to last week at just 1,409k tons compared to 2,186k last week. The top buyers were Japan, Colombia, and Mexico.
• Concerns over delayed U.S. corn planting and potentially reduced final acreage are providing price support. Meanwhile, Brazilian farmers have increased cash corn sales, and Argentina is set to raise its export tax.

• Soybeans are trading slightly lower this morning as well and have backed off from overnight highs that saw July futures as much as 6 cents higher. Soybean meal is trading lower, but soybean oil is recovering from some of yesterday’s losses.
• Yesterday’s export sales report saw soybean sales falling to 323k tons from the previous week’s sales of 773k tons. Top buyers were Mexico, unknown destinations, and Taiwan.
• The Buenos Aires Grain Exchange released its weekly crop report which did not have an updated production number, it was kept at 50 mmt despite the recent flooding, but the bean crop is now said to be 74.3% harvested.

• Wheat is mixed to start the day with Chicago and KC trading slightly lower while Minneapolis is higher. Despite this morning’s quiet trade, this has been a strong week for wheat with the July contract up 18 cents and well off the contract low.
• Yesterday’s export sales report was friendly for wheat with 869k tons sold, up from 805k last week. Top destinations were to the Philippines, unknown destinations, and Japan.
• There have been very heavy rains recently in Argentina, specifically North of Buenos Aires where 6 to 10 inches of rain caused severe flooding. This precipitation has caused delays in wheat planting with only 3.4% of the crop planted. 

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 due to general pressure in the grain complex from a decline in the stock market along with lower crude oil. Corn has now taken back a portion of yesterday’s rally.
• Estimates for today’s export sales report see corn sales in a range between 1,000k and 2,000k tons with an average guess of 1,481k tons. This would compare to 2,186k last week and 1,216k a year ago.
• Concerns over delayed U.S. corn planting and potentially reduced final acreage are providing price support. Meanwhile, Brazilian farmers have increased cash corn sales, and Argentina is set to raise its export tax.

• Soybeans are trading lower this morning led by a sharp loss in soybean oil as it follows crude oil prices lower. July soybeans have taken back some of yesterday’s gains but remain above the 100-day moving average. Soybean meal is trading higher.
• Estimates for today’s export sales report see soybean sales in a range between 250k and 700k tons with an average guess of 438k tons. This would compare to 773k a week ago and 345k a year ago.
• Both crude and soybean oil are trading lower on rumors that OPEC will once again increase crude oil production, and concerns that EPA production obligations for biofuel will be lower than previously hoped.

• All three classes of wheat are trading lower along with the rest of the grain complex following a strong rally over the last three consecutive days. At yesterday’s high, wheat had gained 50 cents off of the low from last week.
• Estimates for today’s export sales report see wheat sales in a range between 150k and 800k tons with an average guess of 516k tons. This would compare to 805k last week and 243k a year ago.
• Rainfall forecasts of 3 to 5 inches over the next seven days for Missouri and southern Illinois are influencing the market, but the longer term forecast shows hot and dry weather over the next month.

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

• Most analysts agree with the USDA’s 2024/25 Supply and Demand estimates; however, some believe that the USDA is overestimating 2025/26 U.S. corn exports by about 275 million bushels, which would raise the projected carryout to around 2.025 billion bushels.
• Concerns over delayed U.S. corn planting and potentially reduced final acreage are providing price support. Meanwhile, Brazilian farmers have increased cash corn sales, and Argentina is set to raise its export tax.
• Argentina currently offers the cheapest export corn, while EU corn imports are up 8% and exports are down 44%.

• Dalian futures for soybeans, soymeal, palm oil, and soyoil all moved higher. Matif rapeseed prices also rose on concerns about dry weather in Germany.
• One group lowered its estimate for 2024/25 U.S. soybean crush by 20 million bushels, raising carryout to 374 million bushels. For 2025/26, they reduced crush estimates by 75 million bushels versus the USDA, but increased export projections by 200 million bushels, resulting in a projected carryout of 500 million bushels compared to the USDA’s 295 million.
• EU oilseed imports are up 11%, soymeal imports up 13%, and vegetable oil imports down 24%. Volatility in soybean oil continues amid uncertainty around a 45% tax incentive.

• Wheat futures rallying on a weaker U.S. dollar, increased wheat feeding, and concerns over crop conditions. Russia’s largest wheat-producing region declared a state of emergency due to a poor crop—making it the third region to do so.
• Rainfall forecasts of 3 to 5 inches over the next seven days for Missouri and southern Illinois are also influencing the market.
• EU wheat exports are down 33%, and imports are down 18%. Matif wheat futures are trading higher.

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 very strong export inspections yesterday and support from a rallying wheat market. With funds now holding a large net short position, there is a better chance for short covering rallies.
• Yesterday’s Crop Progress saw the corn crop at 78% planted which was one point below the average trade guess and compared to 62% a week ago and the average of 73%. 50% of the crop is emerged which compared to the average of 40%.
• In the northern region of Buenos Aires, Argentina, thousands of residents were evacuated over the weekend as a result of severe flooding following up to 10 inches of rain. This area is an agricultural hub, and unharvested acres and some grain facilities were likely impacted.

• Soybeans are trading slightly higher to start the day, but overall have been stagnant this week with prices hovering just above the major moving averages. Soybean meal is trading higher while bean oil is lower.
• Yesterday’s Crop Progress saw that 66% of the soybean crop is planted which was one point above trade estimate and compared to 48% last week and the average of 53%. 34% of the crop is emerged which compared to 17% a week ago and the average of 23% for this time.
• Yesterday’s export inspections saw just 218k tons of soybeans inspected for export which compared to 440k last week and 192k tons a year ago. Top destinations were to Mexico, Egypt, and Taiwan.

• All three wheat classes are trading higher this morning with KC wheat leading the way following reports of frost in the Northern Plains last weekend and then a decline in crop ratings in yesterday’s report.
• Yesterday’s Crop Progress report saw winter wheat crop conditions fall by two points to 52% good to excellent. This was also below the average trade guess and compared to 49% a year ago. 64% of the crop is headed which compared to 53% last week and the average of 58%.
• Spring wheat is estimated at 82% planted which was 2 points ahead of trade estimates, compares to 66% a week ago, and the average of 65%. 45% of the crop is emerged which compares to 27% a week ago and the average of 34%.

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

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