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All prices as of 6:30 am Central Time

• Corn is trading higher this morning after Friday’s small sell-off. This morning, prices are supported by a decline in the US dollar, and poor weather in Argentina that likely damaged grain.
• In the northern region of Buenos Aires, Argentina, thousands of residents were evacuated over the weekend as a result of severe flooding. This area is an agricultural hub, and unharvested acres and some grain facilities were likely impacted.
• Friday’s CFTC report saw funds as major sellers of corn. They sold a whopping 98,869 contracts as of May 13 which brought them from a long position to a net short position of 84,976 contracts.

• Soybeans are trading higher along with the rest of the grain complex in slightly more positive momentum this week. Futures are still hovering above their major moving averages which have acted as support. Soybean meal is lower while bean oil is higher.
• In Brazil, productivity with the current soybean crop has been good which has kept supply high and has also caused prices to fall, especially as is seems further trade negotiations between the US and China are incoming.
• Friday’s CFTC report saw funds as buyers of soybeans as of May 13 by 16,537 contracts which increased their net long position to 38,407 contracts. They were buyers of bean oil by 10,694 contracts and buyers of meal by 712 contracts.

• All three wheat classes are trading higher this morning with the biggest bullish factor most likely the decline in the US dollar. Moody downgraded the US credit rating which has negatively impacted stocks and the dollar.
• In Ukraine, the 2025 spring grain sowing is now at 87% complete with 4.95 million hectares planted. This compares to 5.1 million sown last year. 215,200 hectares is spring wheat, the majority is barley.
• Friday’s CFTC report saw funds as sellers of Chicago wheat by 13,161 contracts which left them with a net short position of 126,895 contracts. They sold 8,559 contracts of KC wheat which left them short 80,799 contracts.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading higher this morning after bull spreading action yesterday that saw the front month higher and deferred contracts lower. For example, July futures are currently unchanged on the week while December futures are down nearly three cents.
• Yesterday’s export sales report was supportive for corn with better than expected sales. Corn sales increased to 2,186k tons which compared to 1,681k the previous week and 870k a year ago. Top buyers were Mexico, South Korea, and Japan.
• Weather has been a bearish factor lately with rain in the Corn Belt expected over the next 7 days, but the 30 day forecast for the Western Belt is much drier and could be an issue.

• Soybeans are trading higher to start the day after a sharp sell off yesterday driven by soybean oil. Soybean oil is lower again this morning on the same bearish news and meal is lower as well.
• Yesterday The EPA administrator, Lee Zeldin, confirmed the agency will complete a rulemaking process to set new renewable fuel standards. The renewable volume obligations numbers were supposed to be released soon, not in a few months, and this has caused fears that the obligations numbers will be lower than previously hoped.
• Yesterday’s export sales for soybeans were within expectations at 773k tons which compared to 387k the previous week and 290k a year ago. Top buyers were Pakistan, Mexico, and Egypt.

• All three wheat classes are trading slightly lower this morning, but the trend this week has been lower prices overnight followed by higher closes. For the week, July Chicago futures are set to gain around 11 cents after making a new contract low earlier this week.
• Yesterday’s export sales were better than expected for wheat at 805k tons which compared to 563k last week and 383k a year ago at this time. Top buyers were unknown, the Philippines, and Mexico.
• In Ukraine, the 2025 spring grain sowing is now at 87% complete with 4.95 million hectares planted. This compares to 5.1 million sown last year. 215,200 hectares is spring wheat, the majority is barley.

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 but is off it’s recent low of the year at $4.36-1/2. Yesterday, futures were able to come off their lows for a higher close, and this morning, they are likely pressured by lower soybean and bean oil.
• Estimates for today’s export sales report see corn sales in a range between 1,200 and 2,100k tons with an average guess of 1,575k tons. This would compare to 1,681k last week and 870k a year ago at this time.
• Yesterday’s ethanol production data was disappointing with only 993,000 gallons per day reported by the EIA, the average guess was 1.031m. Stocks rose by 1% to 25.445m bbl which compared to the analyst estimate of 25.067m.

• Soybeans are sharply lower to start the day as a result of limit down soybean oil. The EPA administrator, Lee Zeldin, confirmed the agency will complete a rulemaking process to set new renewable fuel standards which has shaken up the market. The renewable volume obligations numbers were supposed to be released soon, not in a few months.
• Estimates for today’s export sales report see soybean sales in a range between 300k and 950k tons with an average guess of 667k. This would compare to 386k last week and 291k tons a year ago.
• Projections for the US April soybean crush see an average of 183.8 million bushels. This would compare to 194.6 mb in March but 169.5 mb a year ago at this time.

• All three wheat classes are trading only slightly lower this morning along with the rest of the grain complex. Slowly, futures have been managing to climb off Tuesday’s contract lows with prices seemingly too cheap compared to corn.
• Estimates for today’s export sales report see wheat sales between 150k and 700k tons with an average guess of 469k tons. This would compare to 563k last week and 383k tons a year ago at this time.
•  Persistent fund selling continues to pressure the market which has been driven by recent rainfall across key winter wheat regions and rapid spring wheat planting progress in the Northern Plains.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading lower again this morning and is now at its lowest levels since last December as faster than expected planting progress and good weather so far continue to pressure prices.
• Estimates for the weekly EIA report see ethanol production higher than last week at 1.031m barrels per day and the stockpile average estimate at 25.067m bbl compared to 25.191m a week ago.
• The last time corn was trading at such low prices, the 2025 stocks to use ratio was at 12.9% and is now at 9.3% with the possibility that it could tighten further given the strong exports recently.

• Soybeans are mixed to start the day in bull spreading action in which the front months as trading slightly higher compared to losses in the deferred months. Soybean meal is higher while soybean oil is lower, following crude.
• US soybean exports may decline by 20% without a US China trade deal according to AgResource. While the tariffs have been drastically reduced, they are still higher than they were before any were implemented. Brazil’s President Lula has said he is unafraid of US retaliation over China ties.
• With Monday’s new crop soybean balance sheet projecting ending stocks at just 295 mb, there is little room for yield-reducing weather this season. Crucial weather for yield determination will arrive during the flowering and pod-fill stages, primarily in August and early September.

• Wheat futures extended losses Wednesday morning following fresh contract lows set on Tuesday.
•  Persistent fund selling continues to pressure the market which has been driven by recent rainfall across key winter wheat regions and rapid spring wheat planting progress in the Northern Plains.
• A weaker US dollar Wednesday morning may offer limited support, as wheat prices hover near multi-year lows.

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 following yesterday’s friendly WASDE report and news of a trade agreement with China as crop progress data came out more bullish than expected.
• Yesterday afternoon’s Crop Progress Report saw corn planting at 62% complete which compared to the average trade estimate of 60%, 40% completion last week, and the 5-year average of 56% at this time. 28% of the crop is emerged which compared to 11% a week ago and the average of 21%.
• Yesterday’s WASDE report showed US ending stocks for 24/25 corn falling from April’s estimate to 1.415 bb from 1.465 bb. For 25/25, ending stocks are projected at 1.80 bb which was well below analyst estimates as a result of increased export demand.

• Soybeans are trading lower giving back part of yesterday’s trade deal gains as fast planting remains prevalent and pressures prices. Soybean meal is trading lower, but soybean oil is once again following crude oil higher.
• The Crop Progress Report saw soybean plantings at 48% complete which was higher than the trade guess of 47% and compared to 30% completion a week ago and the 5-year average of 37%. 17% of the crop is emerged which compared to 7% a week ago and the average of 11%.
• Yesterday’s WASDE report was also bullish for soybeans showing lower than expected ending stocks. For 24/25, bean ending stocks are forecast at 350 mb which was down from 375 mb last month, and 25/26 ending stocks are forecast at just 295 mb which was below the average trade guess. World ending stocks were also lowered by 2.6 mmt.

• All three wheat classes are lower this morning making new contract lows following a bearish WASDE and unfriendly crop progress report. At this point, for July Chicago wheat, support is likely now at the 5 dollar mark.
• Yesterday’s Crop Progress showed spring wheat plantings well ahead of expectations at 66% completion. This compared to the trade guess of 62% and the 5-year average of 49%. 27% of the crop is emerged which compared to 13% a week ago and the average of 19%.
• Winter wheat’s Crop Report results were bearish as well with another improvement in ratings. Crop ratings jumped to 54% good to excellent which was higher than the trade guess of 51%, last week’s 51%, and the average of 49%. 53% of the crop is headed which compared to 39% a week ago and the average of 45%.

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 week following a trade agreement over the weekend between the US and China. Many traders are expecting a bearish WASDE report, but futures are already oversold and now have support of higher soybeans.
• Today at 11am central, the USDA will release its WASDE report, and trade expects US old crop ending stocks to fall to 1.444 bb which would be down 21 mb from April. This would likely come from an increase in exports.
• Friday’s CFTC report saw funds as sellers of corn in a big way. They sold 57,436 contracts which significantly reduced their net long position to just 13,893 contracts.

• Soybeans are trading significantly higher this morning following a meeting between Trump and China’s Xi this weekend in which they announced a deal, that each country would cut tariffs. The US will cut tariffs from 145% to 30%, and Beijing will cut tariffs to 10% from 125%.
• Today, the WASDE report will be released and trade expects the 2024/25 U.S. soybean carryout near 369 million bushels vs USDA’s 374, and 2025/26 at 362 million. The expected 2025 U.S. soybean crop is projected at 4.338 billion bushels, slightly below last year’s 4.366 billion.
• Friday’s CFTC report saw funds as sellers of soybeans by 16,332 contracts which left them with a net long position of 21,870 contracts. They sold 6,649 contracts of bean oil leaving them long 56,738 contracts, and sold 5,230 contracts of meal leaving them short 103,457 contracts.

• Wheat is mixed this morning with Chicago unchanged, KC higher, and Minneapolis lower. This quiet trade comes despite the sharp rally in soybeans and the announcement of the trade negotiations. The dollar surged after the announcement which could be pressuring wheat.
• Estimates for Today’s WASDE reports see the trade expecting the 2025/26 U.S. wheat carryout near 863 million bushels and projects the 2025 wheat crop at 1.885 billion bushels, down from last year’s 1.971 billion.
• Friday’s CFTC report saw funds as buyers of Chicago wheat by 7,681 contracts which decreased their net short position to 113,734 contracts. They sold 4,971 contracts of KC wheat which left them short 72,240 contracts.

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

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

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

All prices as of 6:30 am Central Time

• Corn is trading higher this morning and so far has taken back all of yesterday’s losses and then some. Yesterday’s export sales were encouraging and were padded by two separate flash sales.
• Yesterday, President Trump announced a trade agreement with the UK, part of which would reduce ethanol tariffs on British imports to 0%. This comes before another potential trade deal with China tomorrow.
• On Monday, the USDA will release its WASDE report, and trade expects US old crop ending stocks to fall to 1.444 bb which would be down 21 mb from April. This would likely come from an increase in exports.

• Soybeans are trading higher this morning ahead of a potential trade deal with China tomorrow. July futures remain rangebound and are sitting right at the 100-day moving average. Both soybean meal and oil are trading higher as well.
• Tomorrow, President Trump and President Xi will meet in  Geneva to discuss a potential trade deal, and ahead of this meeting, Trump has floated the idea of cutting tariffs on China from 145% to 80%.
• On Monday, the WASDE report will be released and trade expects the 2024/25 U.S. soybean carryout near 369 million bushels vs USDA’s 374, and 2025/26 at 362 million. The expected 2025 U.S. soybean crop is projected at 4.338 billion bushels, slightly below last year’s 4.366 billion.

• All three wheat classes are trading higher this morning with Chicago wheat leading the way following yesterday’s losses and a low of $5.25-1/2 in July.
• Yesterday’s export sales were better than normal at 562.7k tons. This compared to 310.3k last week and 447.1k a year ago at this time. Top destinations were unknown, South Korea, and Mexico.
• Estimates for Monday’s WASDE reports see the trade expecting the 2025/26 U.S. wheat carryout near 863 million bushels and projects the 2025 wheat crop at 1.885 billion bushels, down from last year’s 1.971 billion.

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 a large bearish reversal yesterday that followed talks of the US and China meeting to discuss a trade deal. Later in the day, it was likely that traders felt doubt a deal would be struck and began selling.
• Estimates for today’s export sales report see corn sales in a range between 900k and 1,400k tons with an average guess of 1,133k tons. This would compare to 1,259k last week and 938k a year ago at this time.
• EU corn imports are up 10% year over year, while exports are down 46%. U.S. weather remains mixed — dry in the north and wet across the Delta and Southeast.

• Soybeans are trading higher this morning, but are still within their trading range that was formed on April 11. It may take a weather event to break prices out. Both soybean meal and oil are trading higher as well.
• Estimates for today’s export sales report see soybean sales in a range between 300k and 600k tons with an average guess of 450k tons. This would compare to 478k last week and 434k the prior year.
• In Monday’s USDA report, the trade expects the 2024/25 U.S. soybean carryout near 369 million bushels vs USDA’s 374, and 2025/26 at 362 million. The expected 2025 U.S. soybean crop is projected at 4.338 billion bushels, slightly below last year’s 4.366 billion.

• All three wheat classes are trading higher this morning, and July Chicago wheat has slowly been trending higher after making a new contract low on April 30. US soft wheat is now the cheapest in the world.
• Estimates for today’s export sales report see wheat sales in a range between 0 and 500k tons with an average guess of 317k tons. This would compare to 310k last week and 447k a year ago at this time.
• For Monday’s USDA report, the trade expects the 2025/26 U.S. wheat carryout near 863 million bushels and projects the 2025 wheat crop at 1.885 billion bushels, down from last year’s 1.971 billion.

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

• Talk of improved U.S.-China relations is supporting futures. Traders expect the 2024/25 U.S. corn carryout near 1,443 million bushels vs the USDA’s 1,465, and project the 2025/26 carryout at 2,020 million bushels. Expectations for the 2025 U.S. corn crop are around 15.76 billion bushels, compared to 14.87 billion last year.
• U.S. export corn prices are competitive at about $210/MT, compared to Ukraine at $250, Argentina at $212, and Ukraine September prices also near $210.
• EU corn imports are up 10% year over year, while exports are down 46%. U.S. weather remains mixed — dry in the north and wet across the Delta and Southeast.

• Soybeans are reacting to news of U.S./China talks.  Dalian soybean, soymeal, and soyoil futures were higher, while palm oil moved lower on seasonal production increases and softer exports.
• The trade expects the 2024/25 U.S. soybean carryout near 369 million bushels vs USDA’s 374, and 2025/26 at 362 million. For 2024/25, U.S. exports will be key. The expected 2025 U.S. soybean crop is projected at 4.338 billion bushels, slightly below last year’s 4.366 billion.
• EU oilseed imports are up 8% year over year, meal imports are up 11%, while vegetable oil imports are down 24%.

• July is trading near 5.43 and back-testing 200-day moving average resistance.
• The trade expects the 2025/26 U.S. wheat carryout near 863 million bushels and projects the 2025 wheat crop at 1.885 billion bushels, down from last year’s 1.971 billion. The Oklahoma crop tour estimated the 2025 crop at 101 million bushels, versus 108 million last year.
• There is talk that China purchased Canadian wheat, possibly due to opportunistic buying or concerns about dry weather in China. Meanwhile, some believe funds and commercials may be too bearish on wheat.

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 two front months trading higher while the deferred contracts trade lower. Yesterday, prices were pressured by falling crude oil values, and July corn posted the lowest close since December 2024.
• Yesterday’s Crop Progress report saw that the corn crop is now 40% planted which compares to 24% last week and the 5-year average of 39%. 11% of the crop is emerged which is on par with a year ago at this time.
• The US inspected 1,608k tons of corn for export last week which compared to 1,666k tons the previous week and 1,299k a year ago. Top destinations were Mexico, Japan, and Colombia.

• Soybeans are trading lower this morning following yesterday’s move lower on falling crude and soybean oil. July futures are now at support at the 100-day moving average and have not broken out of their trading range. Soybean meal is higher while bean oil is lower.
• Yesterday’s Crop Progress report saw that the soybean crop is 30% planted which compares to 18% last week and the 5-year average of 23%. 7% of the crop is emerged which compares the the average of 5%.
• The US inspected 324k tons of soybeans for export last week which compared to 458k the previous week and 358k a year ago at this time. Top destinations were Mexico, China, and Japan.

• Wheat is mixed to start the day with Chicago and KC wheat trading higher while Minneapolis is slightly lower. Winter wheat crop conditions were improved in yesterday’s report which is likely adding pressure.
• 44% of the spring wheat crop is planted which was below the average trade guess and compared to 30% a week ago. 13% of the crop is emerged which compares to the average of 9% at this time. Winter wheat conditions improved to 51% from 49% a week ago, and were also above the average trade guess.
• The US inspected 310k tons of wheat for export last week which compared to 649k the previous week and 339k a year ago. Top destinations were to Mexico, the Philippines, and South Korea.

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

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