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All prices as of 6:30 am Central Time

• Corn overnight low hit 398 vs Sep; Sep-Dec corn spread held support near -15 as Dalian corn futures dropped to 6-week lows on higher China supply talk.
• Favorable U.S. Midwest weather during pollination have some looking for harvest lows toward 360; South American supplies weigh on U.S. export outlook.
• Trump’s tariff hike on S. Korea and Japan adds trade risk; EU corn imports up 4%, while exports down 41% year-over-year.

• U.S. new crop soybean export sales hit multi-decade lows; Dec-Mar soymeal spread hits record -10.
• Global oilseed markets active: Dalian soy complex higher, lifting palm and soyoil; Brazil and Argentina soybean stocks above last year.
• Traders eye EPA ruling on refinery exemptions; EU oilseed and meal imports up 13% and 14% year-over-year.

• EU protein concerns are boosting talk of stronger milling wheat demand, while a smaller EU corn crop may increase wheat feeding.
• EU 24/25 wheat exports seen at 21.6 MMT, down 34% from last year; current season exports also down 19% year-over-year.
• Canadian wheat crop conditions strong: Manitoba 90% good/excellent, Saskatchewan 65% good/excellent, and Alberta 62% good/excellent.

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 just 1 cent off contract lows in the September contract following Crop Progress ratings showing the corn crop improving again. Yesterday’s new tariff announcement has not been friendly either.
• Yesterday’s Crop Progress showed good to excellent ratings for corn improving 1 point to 73%, and poor to very poor ratings were reduced to just 5% of the crop. 18% of the crop is silking.
• Yesterday’s CFTC report showed funds as sellers of corn as of July 1 by 24,181 contracts. This increased their net short position to 206,463 contracts, although it is likely now much larger after yesterday’s move.

• Soybeans are lower to start the day with front month August leading the way lower and prices now near recent support. Soybean meal is dragging prices lower while soybean oil has recovered a bit and is trading higher.
• The Crop Progress report showed soybean crop ratings unchanged from last week at 66% good to excellent which is 2 points below a year ago at this time. 32% of the crop is blooming and 8% is now setting pods.
• Yesterday’s CFTC report saw funds as sellers of 23,023 contracts of soybeans which left them with a net long position of just 425 contracts. Funds sold 4,908 contracts of bean oil and sold 21,858 contracts of meal.

• All three wheat classes are trading lower with KC wheat leading the way down. Despite declines in crop conditions and a falling US dollar, funds continue to short the grain markets.
• Yesterday’s Crop Progress report saw winter wheat good to excellent ratings unchanged at 48% while spring wheat conditions fell again by 3 points to 50%, down from 75% a year ago at this time. 61% of the spring wheat crop is headed while 53% of winter wheat is now harvested.
• Yesterday’s CFTC report saw funds as buyers of 1,596 contracts of Chicago wheat leaving them short 63,071 contracts. They bought back 1,114 contracts of KC wheat leaving them short 42,348 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 sharply lower this morning and gapped down in overnight trade following the holiday weekend. Traders were anticipating an announcement from President Trump regarding trade in Iowa which did not come.
• Last week on Wednesday and Thursday, futures moved significantly higher on likely short covering but also on some expectation of friendly news. Instead, weather forecasts remain bearish with good amounts of moisture.
• Last week, export sales were good for corn at 1,473k tons which compared to 1,047k the previous week and 669k tons the previous year. Top buyers were Mexico, South Korea, and Colombia.

• Soybeans are significantly lower along with the rest of the grain complex following the absence of an announced trade deal, but also worrying traders is the upcoming tariffs in which the original pause is approaching its deadline. Both soybean meal and oil are lower as well.
• Argentina has now completed its soybean harvest and has also updated its production citing better than expected yields. The country is said to have produced 50.3 mmt which is slightly above last year’s 50.2 mmt.
• Last week’s export sales for soybeans were below expectations at 701k tons but larger than last week’s 559k and last year’s 379k. Top buyers were unknown destinations, Egypt, and Mexico.

• All three wheat classes are trading lower this morning but are not faring quite as poorly as corn and soybeans so far. The winter wheat harvest is behind schedule but is still pressuring the market, and spring wheat received needed rains over the weekend.
• According to the Food an Agriculture Organization, global grain production is expected to come in at a record high for the 25/26 season as supplies are seen to be large enough to meet demand. Wheat stockpiles are estimated at 321.0 mmt which was up 11m tons from the previous forecast.
• Last week’s export sales report saw wheat sales at 586k tons which compared to 255k the previous week and 805k tons the previous year. Top buyers were the Philippines, Thailand, and the Dominican Republic.

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 as optimism continues over various trade deals either being completed or in the works which could improve demand for US grains. Prices have backed off the overnight highs slightly.
• US corn used for ethanol came in at 449.4 million bushels in May which was up from April but down 1.3% from a year ago at this time.
• Due to the 4th of July holiday, the Commitment of Traders will not be released until Monday, but funds are estimated to have bought 15,500 contracts of corn yesterday and an estimated 29,500 contracts total over the past 5 days.

• Soybeans are trading higher along with corn on bullish momentum that comes despite beneficial weather recently through most of the Corn Belt. Soybean meal is higher while bean oil is lower along with crude oil.
• In India, palm oil imports shot higher by 61% to hit an 11-month high for the month of June as a result of lower domestic inventories. This is bullish for all veg oils.
• Estimates for today’s export sales report see soybean sales in a range between 400k and 900k tons with an average guess of 594k tons. This would compare to 559k a week ago and 320k tons the previous year.

• Wheat is mixed to start the day with Chicago and KC slightly lower but looking to turn positive while Minneapolis is higher. Falling crop conditions have helped markets move higher despite the ongoing winter wheat harvest.
• More rain is expected to fall this week in soft red wheat areas which could delay harvest at times. Europe is currently experiencing a heat wave which could slow harvest there as well.
• Estimates for today’s export sales report see wheat sales in a range between 200k and 60ok tons with an average guess of 334k tons. This would compare to 255k last week and 805k tons the previous 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 lower to start the day but remains off yesterday’s contract lows that were made after crop progress results showed another 1 point improvement to crop ratings. Yesterday, September corn found support right at the $4.00 mark.
• Last week, the European weather model forecasted a hotter and drier July, but so far, the 6-10 day forecast shows above average precipitation for the Corn Belt which is weighing on prices.
• US corn used for ethanol came in at 449.4 million bushels in May which was up from April but down 1.3% from a year ago at this time.

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

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

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

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

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

All prices as of 6:30 am Central Time

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

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

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

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

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

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

All prices as of 6:30 am Central Time

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

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

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

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

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

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

All prices as of 6:30 am Central Time

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

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

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

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

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

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

All prices as of 6:30 am Central Time

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

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

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

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

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

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

All prices as of 6:30 am Central Time

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

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

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

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

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