Corn is trading lower again this morning as reports come in that the cease fire agreement made last night between Israel and Iran seems to have faltered with both countries accusing the other of breaking the deal overnight. This has put pressure on the grain and energy complexes.
Yesterday afternoon’s Crop Progress report was friendly as the crop ratings were lowered by 2 points to 70% good to excellent. 97% of the crop is emerged and 4% is silking.
The CFTC report showed funds as sellers of corn as of June 17. They sold 20,768 contracts which increased their net short position to 184,788 contracts.
Soybeans are trading lower to start the day under pressure from sharply lower soybean oil which is following crude oil. Crude has lost over 10 dollars a barrel in value from yesterday’s high as trade now assumes that Iran will not close the Strait of Hormuz.
Yesterday’s Crop Progress Report saw crop conditions for soybeans unchanged with the good to excellent rating still at 66%. 96% of the crop is planted, 90% is emerged, and 8% is blooming.
Yesterday’s CFTC report saw funds as buyers of soybeans. They bought 33,526 contacts which increased their net long position to 59,165 contracts. They bought 21,375 contracts of bean oil and sold 20,273 contracts of meal.
All three wheat classes are trading lower again this morning and have unfortunately taken the brunt of the recent sell-off in grains despite having a more compelling bullish story as crop ratings decline and funds are poised to cover a portion of their short position.
Yesterday’s Crop Progress saw winter wheat crop ratings down 3 points to 49% good to excellent while spring wheat ratings also fell by 3 points to 54%. 19% of winter wheat is harvested, 93% of spring wheat is emerged, and 17% is headed.
The CFTC report saw funds as buyers of wheat, they bought back 12,658 contracts of Chicago wheat which reduced their net short position to 81,353 contracts. They bought back 12,813 contracts of KC wheat leaving them short 62,151 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.
🌽 Corn: Corn futures struggled again to start the week, as favorable weather forecasts and technical selling pressured prices. Front-end contracts pushed to new nearby lows, with December corn posting its lowest close since December.
🌱 Soybeans: Soybean futures closed lower Monday, with deferred contracts leading the decline. Sharp losses in crude oil and soybean oil pressured the soy complex, reversing early session gains.
🌾 Wheat: Wheat futures posted double-digit losses across all classes on Monday, as broader commodity markets turned risk-off amid heightened geopolitical tensions.
To see updated U.S. weather outlook maps, scroll down to the other charts/weather section.
Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.
Corn
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Eight sales recommendations made to date, with an average price of 494.
Changes:
None.
2025 Crop:
Plan A:
Exit all 510 December calls @ 43-5/8 cents.
Exit half of the December 420 puts @ 43-3/4 cents.
Exit one-quarter of the December 420 puts if December closes at 411 or lower.
Roll-down 510 & 550 December calls if December drops to 399.
Plan B: No active targets.
Details:
SalesRecs: Seven sales recommendations have been made to date, with an average price of 461.25.
Changes:
None.
2026 Crop:
Plan A: Target 483 vs December ‘26 for the next sale.
Plan B: No active targets.
Details:
Sales Recs: Four sales recommendations have been made to date, with an average price of 462.
Changes:
New upside target added.
To date, Grain Market Insider has issued the following corn recommendations:
Corn futures struggled again to start the week, as favorable weather forecasts and technical selling pressured prices. Front-end contracts pushed to new nearby lows, with December corn posting its lowest close since December.
The outside market remained extremely volatile on Monday with a close eye on tensions in the Middle East. The crude oil market dropped significantly of the session highs after Iran retaliated against the U.S. air strikes over the weekend. The crude oil market traded over $8-9 of session highs with the thought the tension may de-escalate.
Despite building heat across the Corn Belt, timely rainfall continues to alleviate crop stress. The extended outlook remains favorable, with above-average precipitation and warm—but not extreme—temperatures expected, supporting crop development.
The recent rainfall totals across the Corn Belt have reduced the areas of drought slightly week over week. Total corn area that remains in some form of drought is at 17% according to the latest drought monitor maps.
USDA’s weekly corn inspections showed exporters shipped 1.476 MMT (58.1 MB) last week. Total inspections are now running 29% ahead of last year and remain well on pace to exceed the USDA’s 2024/25 export forecast.
Corn Futures Continue to Trade Within Recent Range Front-month corn remains rangebound within a 30-cent band, mostly trading below resistance at 4.46. The recent roll to September futures left an unfilled chart gap. A close above 4.46 could open the door to a move toward 4.65, while support rests near the recent low of 4.20. A break below that would expose the next downside target at 4.08.
Soybeans
2024 Crop:
Plan A: Next cash sale at 1107 vs August.
Plan B: No active targets.
Details:
Sales Recs: Three sales recommendations made to date, with an average price of 1089.
Changes:
None.
2025 Crop:
Plan A:
Next cash sale at 1114 vs November.
Exit one-third of 1100 call options at 1085 vs November.
Exit remaining two-thirds of 1100 November call options at 88 cents.
Plan B:
No active targets.
Details:
Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.
Changes:
None.
2026 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Zero sales recommendations made so far to date.
Changes:
None.
To date, Grain Market Insider has issued the following soybean recommendations:
Soybeans closed lower with larger losses in the deferred contracts as sharply lower crude oil prices weighed on soybean oil. Soybean oil and crude began the day higher, but traders may be anticipating that the conflict with Iran may not translate to disruptions in oil distribution.
Geopolitical tensions remain elevated, as reports emerged that Iran launched six missiles toward U.S. bases in Qatar and Iraq in response to weekend U.S. airstrikes on Iranian nuclear facilities. However, the absence of direct attacks on energy infrastructure led to selling in both crude oil and soybean oil.
Friday’s export sales came in better than expected, with 19.8 mb booked for 2024/25 and 2.8 mb for 2025/26. Top buyers included Germany, Mexico, and unknown destinations. Shipments totaled 14.9 mb, above the 13.2 mb weekly pace needed to reach USDA’s 1.850 bb target.
China’s soybean imports from Brazil surged 37.5% year-over-year in May, reaching 12.11 MMT, up from 8.81 MMT last year. U.S. soybean shipments to China totaled just 1.63 MMT, highlighting Brazil’s continued dominance during the peak export season.
Soybeans Pause Near Upper End of Recent Range Soybeans remain near major resistance that must be cleared to unlock broader upside potential. The macro trend remains sideways, with key resistance at the May high of 1082. A close above that level could target the open gap on the front-month continuous chart from last June, which spans 1161 to 1177. If July futures fail to break 1082, the risk shifts back toward rangebound or lower trade. Initial support is at 1032.5, with a close below that exposing the April low of 970.25 as the next downside risk.
Wheat
Market Notes: Wheat
Wheat futures posted double-digit losses across all classes on Monday, as broader commodity markets turned risk-off amid heightened geopolitical tensions. The U.S. bombing of Iranian nuclear sites over the weekend was met with reports of Iranian missile retaliation targeting a U.S. base in Qatar. Interestingly, crude oil fell $4–5 per barrel, likely due to the lack of damage to energy infrastructure and the continued operation of the Strait of Hormuz—nonetheless, crude’s weakness may have pressured grains as well.
USDA reported weekly wheat inspections at 9.4 million bushels, bringing 2025/26 cumulative inspections to 31 mb—20% below last year’s pace and trailing USDA’s annual export projection of 825 mb (up 1% year-over-year).
Severe storms and tornadoes in North Dakota on Friday may have caused localized spring wheat damage, including reports of compromised grain infrastructure. Crop loss estimates are still unknown.
Egypt’s wheat imports have totaled just 4.9 MMT so far this year, according to its agriculture minister—a 31% decline year-over-year. As one of the world’s largest wheat importers, this pullback may have added pressure to the market.
Ukrainian grain exports for the season reached 40 MMT as of last Friday, down 19% from last year. Wheat exports totaled 15.6 MMT, off 14% year-over-year. Their export season concludes at the end of June.
On a bearish note, the European Monitoring Agricultural Resources unit has increased their estimate of EU soft wheat yields. Now seen at 6.08 mt per hectare, this is up 0.04 mt from their projection last month.
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Four sales recommendations made to date, with an average price of 690.
Changes:
There is likely to be no further guidance on the 2024 crop as focus will be fully shifting to the 2025 and 2026 crops.
2025 Crop:
Plan A: No active targets.
Plan B:
Buy call options if July closes over 633.50 macro resistance.
Details:
Sales Recs: Five sales recommendations made to date, with an average price of 646.
Changes:
None.
2026 Crop:
Plan A:
Target 675 vs July ‘26 for the next sale.
Plan B:
Close below 588 support vs July ‘26 and buy put options (strikes TBD).
Details:
Sales Recs: One sales recommendation made to date, at 624.
Changes:
None.
To date, Grain Market Insider has issued the following Chicago Wheat recommendations:
Chicago Wheat Breaks Out of Recent Range A strong breakout above longer-term moving averages and the upper end of the recent range signals bullish momentum. Initial support is at last week’s low of 522.25, with a break below that exposing further downside toward 506.25. On the upside, a weekly close above 558 could spark a larger move toward the winter high of 621.75.
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Three sales recommendations made to date, with an average price of 677.
Changes:
There is likely to be no further guidance on the 2024 crop as focus will be fully shifting to the 2025 and 2026 crops.
2025 Crop:
Plan A: No active targets.
Plan B:
Close below 535.75 support vs September and sell more cash.
Buy call options if July closes over 653 macro resistance.
Details:
Sales Recs: Four sales recommendations made to date, with an average price of 639.
Changes:
None.
2026 Crop:
Plan A: Target 693 vs July ‘26 to make the first cash sale.
Plan B:
Close below 549 support vs July ‘26 and sell more cash.
Close below 584 support and buy July ‘26 put options (strikes TBD).
Details:
Sales Recs: Zero sales recommendations made so far to date.
Changes:
None.
To date, Grain Market Insider has issued the following KC recommendations:
Kansas City Wheat Finds Resistance at the 50-Day July closed right at the 50-day moving average today following a strong bullish reversal off today’s low. Closing over today’s high would make the 200-day at 567 the next immediate target.
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Six sales recommendations made to date, with an average price of 684.
Changes:
There is likely to be no further guidance on the 2024 crop as focus will be fully shifting to the 2025 and 2026 crops.
2025 Crop:
Plan A: No active targets.
Plan B:
Buy KC call options if September KC closes over 653 macro resistance (strikes TBD).
Details:
Sales Recs: Five sales recommendations made to date, with an average price of 646.
Changes:
None.
2026 Crop:
Plan A: No active targets.
Plan B:
Close below 584 vs July ‘26 KC and buy July KC put options (strikes TBD).
Details:
Changes:
None.
To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:
Spring Wheat Rallies Above Resistance Spring wheat futures surged through resistance this week, setting up 660 as the next upside target. Key support lies at this week’s low and the 200-day moving average near 607. A close below that zone — and especially below the May low of 572.50 — would signal the next downside risk.
Corn futures are lower to start the week, with the market testing recent contract lows amid continued pressure from favorable U.S. weather.
Grain markets showed limited reaction following the weekend’s reported U.S. strikes on Iranian nuclear sites. However, with Iran threatening retaliation, volatility is expected to remain elevated.
Weather across the Corn Belt remains mostly non-threatening in the wake of the weekend heat wave. Rains are forecast for much of the region this week, with the heaviest totals expected in Iowa and lighter amounts across the Eastern Corn Belt.
Soybean futures are lower to start the week, following broader weakness across the grain complex.
Export demand remains supportive, with U.S. soybean shipments on pace to meet USDA’s 2024/25 target. Notably, new-crop sales are running ahead of last year’s pace, even without significant Chinese participation.
After weekend heat, rainfall is expected across much of the western Midwest this week. However, central Illinois and areas eastward are likely to stay drier than normal over the next seven days, which could begin to raise localized crop concerns if dryness persists.
Wheat futures are trading lower to start the week, following losses in corn and soybeans amid broader pressure across the grain complex.
Weekend developments in the Middle East have fueled a flight to safety, boosting demand for the U.S. dollar. The U.S. Dollar Index is sharply higher Monday, adding additional headwinds for U.S. wheat exports.
Harvest activity likely advanced at a strong pace over the weekend, aided by warm, dry conditions across key U.S. growing areas. Globally, dryness remains a concern in Europe, though recent rains in Russia have helped ease drought worries there.
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.
Corn is trading lower to start the week following weekend strikes by the US into Iranian nuclear sites. Further retaliation could cause the Strait of Hormuz to be closed which would be bullish for all energy commodities including ethanol.
Friday’s export sales report saw corn sales above expectations at 1,059k tons. This compared to 762k last week and 605k tons a year ago. Primary destinations were to Japan, Mexico, and South Korea.
In Brazil, corn prices have moved lower as trade expects high supplies in the coming weeks from a large second crop corn which is now estimated at 101 mmt, up 12% from the last record.
Soybeans are trading slightly lower to start the day but remain near the top of their range. Soybean meal is trading lower, but bean oil is following crude higher in the fallout of the strikes on Iran.
Friday’s export sales report saw soybean sales above expectations at 615 mmt which compared to 120k tons last week and 641k a year ago at this time. Top buyers were Mexico, Germany, and unknown.
Chinese soybean imports from Brazil for the month of May increased by 37.5% year over year. They bought 12.11 mmt from Brazil which compared to 8.81 mmt last year, and they bought just 1.63m mmt from the US.
All three wheat classes are trading slightly lower to start the week but remain near their highest levels in months. July Chicago wheat has met some resistance at the 200-day moving average, but a close above that level could see a move to 6 dollars.
Friday’s export sales report saw wheat sales within trade expectations at 427k tons which compared to 389k last week and 579k a year ago. Top buyers were Taiwan, the Philippines, and Venezuela.
In Kansas there were reports last week that storms with winds of up to 100 mph caused significant damage to the wheat crop. In other wheat areas, conditions are too wet which could pose more problems.
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.
🌽 Corn: Corn futures posted losses Friday alongside soybeans and wheat, as traders adopted a risk-off approach.
🌱 Soybeans: Soybeans closed lower Friday, reversing from early session highs in a bearish technical move — taking out Wednesday’s high but closing below its low.
🌾 Wheat: Wheat futures closed lower Friday, following the broader grain complex. After Thursday’s sharp rally, profit-taking was likely a factor.
To see updated U.S. weather outlook maps, scroll down to the other charts/weather section.
Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.
Corn
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Eight sales recommendations made to date, with an average price of 494.
Changes:
None.
2025 Crop:
Plan A:
Exit all 510 December calls @ 43-5/8 cents.
Exit half of the December 420 puts @ 43-3/4 cents.
Exit one-quarter of the December 420 puts if December closes at 411 or lower.
Roll-down 510 & 550 December calls if December drops to 399.
Plan B: No active targets.
Details:
SalesRecs: Seven sales recommendations have been made to date, with an average price of 461.25.
Changes:
None.
2026 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Four sales recommendations have been made to date, with an average price of 462.
Changes:
None.
To date, Grain Market Insider has issued the following corn recommendations:
Corn futures posted losses Friday alongside soybeans and wheat, as traders adopted a risk-off approach. Despite a heat wave expected this weekend, the market remains pressured by forecasts calling for above-normal precipitation across the Midwest, limiting upside momentum.
USDA reported corn export sales of 35.6 mb for 2024/25 and 6.1 mb for 2025/26. Shipments last week totaled 68.7 mb, well above the 44.5 mb weekly pace needed to meet the USDA’s 2.650 bb target. Total 2024/25 commitments now stand at 2.631 bb, up 26% from a year ago.
Argentina’s corn harvest advanced 3% to 50% complete, according to the Buenos Aires Grain Exchange. While yields are reportedly better than expected, the group maintained its production estimate at 49 MMT — slightly below the USDA’s 50 MMT and last year’s 51.6 MMT.
The latest EIA report showed ethanol production down 1% on the week to 326 million gallons — still exceeding the pace needed to meet USDA’s 5.5 bb corn use forecast. Ethanol stocks rose 1.6% from the previous week.
Corn Futures Continue to Trade Within Recent Range Front-month corn remains rangebound within a tight 20-cent band, mostly trading below resistance at 4.46. The recent roll to September futures left an unfilled chart gap. A close above 4.46 could open the door to a move toward 4.65, while support rests near the recent low of 4.20. A break below that would expose the next downside target at 4.08.
Soybeans
2024 Crop:
Plan A: Next cash sale at 1107 vs August.
Plan B: No active targets.
Details:
Sales Recs: Three sales recommendations made to date, with an average price of 1089.
Changes:
None.
2025 Crop:
Plan A:
Next cash sale at 1114 vs November.
Exit one-third of 1100 call options at 1085 vs November.
Exit remaining two-thirds of 1100 November call options at 88 cents.
Plan B:
No active targets.
Details:
Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.
Changes:
A new cash sale target of 1114 has posted.
2026 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Zero sales recommendations made so far to date.
Changes:
None.
To date, Grain Market Insider has issued the following soybean recommendations:
Soybeans closed lower, reversing from highs earlier in the day. The move was a bearish reversal having taken out Wednesday’s high but closing below its low. Volume was likely lighter than normal following the holiday and going into the weekend. Both soybean meal and oil were lower today as well.
Export sales came in better than expected, with 19.8 mb booked for 2024/25 and 2.8 mb for 2025/26. Top buyers included Germany, Mexico, and unknown destinations. Shipments totaled 14.9 mb, above the 13.2 mb weekly pace needed to reach USDA’s 1.850 bb target.
Chinese soybean imports from Brazil surged 37.5% year over year in May, totaling 12.11 MMT versus 8.81 MMT last year. Imports from the U.S. were just 1.63 MMT.
For the week, July soybeans lost 1-3/4 cents closing at $10.68 while November soybeans gained 6 cents to $10.60-3/4. July soybean meal lost $7.80 to $284.10 while July bean oil gained a whopping 3.86 cents to 54.47 cents reaching the highest level since September 2023.
Soybeans Pause Near Upper End of Recent Range Soybeans remain near major resistance that must be cleared to unlock broader upside potential. The macro trend remains sideways, with key resistance at the May high of 1082. A close above that level could target the open gap on the front-month continuous chart from last June, which spans 1161 to 1177. If July futures fail to break 1082, the risk shifts back toward rangebound or lower trade. Initial support is at 1032.5, with a close below that exposing the April low of 970.25 as the next downside risk.
Wheat
Market Notes: Wheat
Wheat futures closed lower Friday, following the broader grain complex. After Thursday’s sharp rally, profit-taking was likely a factor, alongside a mostly non-threatening U.S. weather outlook that pressured corn and soybean futures, limiting wheat’s upside.
USDA reported wheat export sales of 15.7 mb for 2025/26. Shipments reached 13.4 mb, below the 15.6 mb weekly pace needed to hit USDA’s 825 mb export goal. Total sales commitments for 2025/26 stand at 233 mb, up 17% from last year.
Weather conditions in South America could provide underlying support. Heavy rains in southern Brazil are expected to delay winter wheat planting, while persistent dryness in Argentina may hinder crop establishment.
The Buenos Aires Grain Exchange reported Argentine wheat planting at 60% complete, up 22% from the previous week. They maintained their production estimate at 20 MMT, which would be an 8% increase year-over-year if realized.
The Russian agriculture ministry is anticipating a 2025 wheat crop totaling 90 mmt. For reference, the USDA is using a figure of just 83 mmt. However, both the ag ministry and the USDA are anticipating Russian wheat exports near 45 mmt.
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Four sales recommendations made to date, with an average price of 690.
Changes:
There is likely to be no further guidance on the 2024 crop as focus will be fully shifting to the 2025 and 2026 crops.
2025 Crop:
Plan A: No active targets.
Plan B:
Buy call options if July closes over 633.50 macro resistance.
Details:
Sales Recs: Five sales recommendations made to date, with an average price of 646.
Changes:
None.
2026 Crop:
Plan A:
Target 675 vs July ‘26 for the next sale.
Plan B: Close below 588 support vs July ‘26 and buy put options (strikes TBD).
Details:
Sales Recs: One sales recommendation made to date, at 624.
Changes:
None.
To date, Grain Market Insider has issued the following Chicago Wheat recommendations:
Chicago Wheat Breaks Out of Recent Range A strong breakout above longer-term moving averages and the upper end of the recent range signals bullish momentum. Initial support is at last week’s low of 522.25, with a break below that exposing further downside toward 506.25. On the upside, a weekly close above 558 could spark a larger move toward the winter high of 621.75.
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Three sales recommendations made to date, with an average price of 677.
Changes:
There is likely to be no further guidance on the 2024 crop as focus will be fully shifting to the 2025 and 2026 crops.
2025 Crop:
Plan A: No active targets.
Plan B:
Close below 535.75 support vs September and sell more cash.
Buy call options if July closes over 653 macro resistance.
Details:
Sales Recs: Four sales recommendations made to date, with an average price of 639.
Changes:
Plan B downside stop added at 535.75 support. As long as the September contract continues to hold above this support will remain patient for better opportunities. If this support breaks then another cash sale will be recommended as further downside could follow
2026 Crop:
Plan A: Target 693 vs July ‘26 to make the first cash sale.
Plan B:
Close below 549 support vs July ‘26 and sell more cash.
Close below 584 support and buy July ‘26 put options (strikes TBD).
Details:
Sales Recs: Zero sales recommendations made so far to date.
Changes:
Plan B downside stop added at 549 support. As long as the July ’26 contract continues to hold above this support will remain patient for better opportunities. If this support breaks then another cash sale will be recommended as further downside could follow.
To date, Grain Market Insider has issued the following KC recommendations:
Kansas City Wheat Finds Resistance at the 50-Day July closed right at the 50-day moving average today following a strong bullish reversal off today’s low. Closing over today’s high would make the 200-day at 567 the next immediate target.
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Six sales recommendations made to date, with an average price of 684.
Changes:
There is likely to be no further guidance on the 2024 crop as focus will be fully shifting to the 2025 and 2026 crops.
2025 Crop:
Plan A: No active targets.
Plan B:
Buy KC call options if September KC closes over 653 macro resistance.
Details:
Sales Recs: Five sales recommendations made to date, with an average price of 646.
Changes:
None.
2026 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Changes:
None.
To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:
Spring Wheat Rallies Above Resistance Spring wheat futures surged through resistance this week, setting up 660 as the next upside target. Key support lies at this week’s low and the 200-day moving average near 607. A close below that zone — and especially below the May low of 572.50 — would signal the next downside risk.
Corn futures are trading near unchanged at midday, with a lack of fresh headlines keeping the market rangebound.
Geopolitical tensions remain elevated despite diplomatic overtures, as Iran prepares for peace talks with the EU in Geneva and former President Trump hints at diplomacy. Meanwhile, Israeli strikes reportedly targeted missile sites and Iran’s nuclear research facilities overnight.
Weekly corn export sales totaled 35.6 mb for 2024/25 and 6.1 mb for 2025/26. Shipments reached 68.7 mb — well above the 44.5 mb weekly pace needed to meet USDA’s 2.650 bb target. Total shipments now stand at 2.631 bb, up 26% year over year.
Soybeans, like corn, are trading near unchanged at midday.
Weekly soybean sales totaled 19.8 mb for 2024/25 and 2.8 mb for 2025/26. Shipments reached 14.9 mb — above the 13.2 mb weekly pace needed to meet USDA’s 1.850 bb target. Total shipments now stand at 1.805 bb, up 11% from a year ago.
Chinese customs data show a record May soybean import total of 13.9 MMT. Brazil supplied 12.1 MMT — up nearly 38% from last year — while U.S. shipments totaled just 1.63 MMT amid ongoing tariff headwinds.
Wheat futures are trading slightly higher at midday Friday.
Weekly export sales came in at 15.7 mb for 2025/26. Shipments totaled 13.4 mb, falling short of the 15.6 mb weekly pace needed to reach USDA’s 825 mb target. Total wheat commitments now stand at 233 mb, up 17% from a year ago.
Traders continue to monitor heightened tensions in both the Middle East and the Black Sea region, where conflict between Russia and Ukraine remains a key geopolitical risk.
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.
Corn is trading higher to start the day, but July futures remain at support near recent lows while new crop December is closer to the middle of its trading range near the 50-day moving average.
Estimates for today’s export sales report see corn sales in a range between 650k and 1,400k tons with an average guess of 963k. This would compare to 762k a week ago and 605k a year ago.
In Brazil, the second crop corn harvest is ongoing which is likely adding pressure to US prices. In the US, weather has been good but is expected to turn dry.
Soybeans are trading higher along with corn and are at the top of their recent trading range. Gains in soybean oil have set the stage for this rally as trade looks for increased biodiesel demand. Meal is lower today while bean oil is higher.
Chinese soybean imports from Brazil for the month of May increased by 37.5% year over year. They bought 12.11 mmt from Brazil which compared to 8.81 mmt last year, and they bought just 1.63m mmt from the US.
Estimates for today’s export sales report see soybean sales in a range between 150k and 500k tons with an average guess of 313k tons. This would compare to 120k last week and 582k a year ago.
All three wheat classes are lower this morning following extremely impressive gains on Wednesday that saw futures up more than 25 cents to close the day. Weather and fund short covering were the primary reasons for the move.
In Kansas there have been early reports that storms on Tuesday with winds of up to 100 mph caused significant damage to the wheat crop. In other wheat areas, conditions are too wet which could pose more problems.
Estimates for today’s export sales report see wheat sales in a range between 300k and 600k tons with an average guess of 425k tons. This would compare to 389k last week and 579k 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.
The CME and Total Farm Marketing Offices will be closed Thursday, June 19, in Observance of Juneteenth
All Prices as of 2:00 pm Central Time
Grain Market Highlights
🌽 Corn: Corn posted modest gains for a second consecutive session, supported by strength in wheat and growing concern over hot temperatures forecast for the weekend.
🌱 Soybeans: Soybeans ended slightly higher for a fourth straight session, holding near the top of their trading range. Support continues from weaker-than-expected crop ratings and stronger biodiesel demand.
🌾 Wheat: Wheat led the grain complex higher Tuesday, despite limited fresh headlines. Delays to the U.S. winter wheat harvest due to heavy rains in the southern Plains raised quality concerns and likely fueled technical buying and fund short-covering.
To see updated U.S. weather outlook maps, scroll down to the other charts/weather section.
Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.
Corn
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Eight sales recommendations made to date, with an average price of 494.
Changes:
None.
2025 Crop:
Plan A:
Exit all 510 December calls @ 43-5/8 cents.
Exit half of the December 420 puts @ 43-3/4 cents.
Exit one-quarter of the December 420 puts if December closes at 411 or lower.
Roll-down 510 & 550 December calls if December drops to 399.
Plan B: No active targets.
Details:
SalesRecs: Seven sales recommendations have been made to date, with an average price of 461.25.
Changes:
None.
2026 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Four sales recommendations have been made to date, with an average price of 462.
Changes:
None.
To date, Grain Market Insider has issued the following corn recommendations:
Corn finished modestly higher for a second straight day on support from the wheat market and concerns over higher temperatures moving in this weekend.
Weekly ethanol production totaled 326 million gallons — up 5% from a year ago but slightly below last week’s 329 million. Ethanol stocks rose to 24.1 million barrels, compared to 23.6 million last year.
LSEG trimmed its Ukraine corn production forecast by 1.4% to 27.8 MMT, citing reduced planted area.
Chinese customs data showed May corn imports down 81.6% year-over-year to 190,000 tons. Year-to-date imports are down 93.7% at 630,000 tons, as China continues to curb foreign grain purchases.
Corn Futures Continue to Trade Within Recent Range The front-month July contract continues to trade within a tight range, mostly between 434 and 446. A close above 446 would open the door to the next upside opportunity at 465. On the downside, support sits at the June 10 bullish reversal low of 429.25. A close below that level would make 408 the next downside risk to watch.
Above: From Barchart – World Corn Export Prices in U.S. Dollars per metric ton. Brazil (Blue), U.S. NOLA (White), Argentina (Red), Ukraine non-GMO (yellow)
Soybeans
2024 Crop:
Plan A: Next cash sale at 1107 vs August.
Plan B: No active targets.
Details:
Sales Recs: Three sales recommendations made to date, with an average price of 1089.
Changes:
None.
2025 Crop:
Plan A:
Next cash sale at 1114 vs November.
Exit one-third of 1100 call options at 1085 vs November.
Exit remaining two-thirds of 1100 November call options at 88 cents.
Plan B:
No active targets.
Details:
Sales Recs: Two sales recommendations made to date, with an average price of 1040.25.
Changes:
A new cash sale target of 1114 has posted.
2026 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Zero sales recommendations made so far to date.
Changes:
None.
To date, Grain Market Insider has issued the following soybean recommendations:
Soybeans ended the day slightly higher for the fourth consecutive close but remain near the top of their trading range. Poorer than expected crop ratings along with higher biodiesel requirements have been supportive. Soybean meal was lower, and bean oil was mixed with bear spreading pulling the front months lower.
China’s May soybean imports rose 26.2% year-over-year to 13.92 MMT, driven largely by South American supply — still a positive sign for global demand.
In the U.S., upcoming warmer weather may aid emergence, but crop conditions remain below expectations. Combined with reduced acreage, this could fuel further gains, with some analysts eyeing the $11.00 level.
In Argentina, a prominent crop scout increased their projections for soybean production by 1 mmt to 49.5 mmt citing good early yields. This number is relatively in line with the USDA’s expectations.
July Soybeans Pause Near Upper End of Recent Range July still has major resistance to clear before broader upside opportunities can become more immediate possibilities. Macro trend remains sideways with resistance at the May high of 1082. A close over that resistance and the first upside objective could be the open gap on the front month continuous chart from last June. The gap starts at 1161 and ends at 1177. If July cannot clear 1082 then rangebound to lower trade remains the risk. First support is now at 1032.50. A close below that support and the April low of 970.25 would be the next risk.
Above: From Barchart – World Soybean Export Prices in U.S. Dollars per metric ton. Brazil (Blue), U.S. NOLA (White), Argentina (Red)
Wheat
Market Notes: Wheat
Wheat was the upside leader in the grain complex today, despite a lack of fresh news. Heavy rains in the southern US have delayed winter wheat harvest and are also causing concerns about quality. This may have triggered further technical buying and fund short covering. Additionally, the market could be factoring in war premium due to elevated tensions in the Middle East.
Strength in Paris milling wheat supported U.S. prices. September Matif wheat closed six euros higher, breaking through and finishing above the 21-, 40-, and 50-day moving averages — marking a two-and-a-half-week high.
According to Chinese customs data, wheat and wheat flour imports for the month of May were down 70.1% year on year, at 560,000 mt. Meanwhile, year to date imports were down 80.1% year on year at 1.61 mmt.
German ag co-op DRV raised its 2025 total grain harvest forecast to 41.4 MMT (from 40.7 MMT), up 6% from 2024. Wheat production is now pegged at 21.5 MMT, up from 21.0 MMT last month.
The Russian wheat export duty for the period of June 18-24 has declined from 652.5 to 566 Rubles per mt. This represents a 13.3% decrease. For the same timeframe, the barley duty is zero, but increased on corn from 359.9 to 397.3 Rubles.
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Four sales recommendations made to date, with an average price of 690.
Changes:
There is likely to be no further guidance on the 2024 crop as focus will be fully shifting to the 2025 and 2026 crops.
2025 Crop:
Plan A: No active targets.
Plan B:
Buy call options if July closes over 633.50 macro resistance.
Details:
Sales Recs: Five sales recommendations made to date, with an average price of 646.
Changes:
None.
2026 Crop:
Plan A:
Target 675 vs July ‘26 for the next sale.
Plan B: Close below 588 support vs July ‘26 and buy put options (strikes TBD).
Details:
Sales Recs: One sales recommendation made to date, at 624.
Changes:
None.
To date, Grain Market Insider has issued the following Chicago Wheat recommendations:
Chicago Wheat Breaks Out of Recent Range A strong breakout above longer-term moving averages and the upper end of the recent range signals bullish momentum. Initial support is at last week’s low of 522.25, with a break below that exposing further downside toward 506.25. On the upside, a weekly close above 558 could spark a larger move toward the winter high of 621.75.
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Three sales recommendations made to date, with an average price of 677.
Changes:
There is likely to be no further guidance on the 2024 crop as focus will be fully shifting to the 2025 and 2026 crops.
2025 Crop:
Plan A: No active targets.
Plan B:
Close below 535.75 support vs September and sell more cash.
Buy call options if July closes over 653 macro resistance.
Details:
Sales Recs: Four sales recommendations made to date, with an average price of 639.
Changes:
Plan B downside stop added at 535.75 support. As long as the September contract continues to hold above this support will remain patient for better opportunities. If this support breaks then another cash sale will be recommended as further downside could follow
2026 Crop:
Plan A: Target 693 vs July ‘26 to make the first cash sale.
Plan B:
Close below 549 support vs July ‘26 and sell more cash.
Close below 584 support and buy July ‘26 put options (strikes TBD).
Details:
Sales Recs: Zero sales recommendations made so far to date.
Changes:
Plan B downside stop added at 549 support. As long as the July ’26 contract continues to hold above this support will remain patient for better opportunities. If this support breaks then another cash sale will be recommended as further downside could follow.
To date, Grain Market Insider has issued the following KC recommendations:
Kansas City Wheat Finds Resistance at the 50-Day July closed right at the 50-day moving average today following a strong bullish reversal off today’s low. Closing over today’s high would make the 200-day at 567 the next immediate target.
2024 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Sales Recs: Six sales recommendations made to date, with an average price of 684.
Changes:
There is likely to be no further guidance on the 2024 crop as focus will be fully shifting to the 2025 and 2026 crops.
2025 Crop:
Plan A: No active targets.
Plan B:
Buy KC call options if September KC closes over 653 macro resistance.
Details:
Sales Recs: Five sales recommendations made to date, with an average price of 646.
Changes:
None.
2026 Crop:
Plan A: No active targets.
Plan B: No active targets.
Details:
Changes:
None.
To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:
Spring Wheat Rallies Above Resistance Spring wheat futures surged through resistance this week, setting up 660 as the next upside target. Key support lies at this week’s low and the 200-day moving average near 607. A close below that zone — and especially below the May low of 572.50 — would signal the next downside risk.
From Barchart – World Wheat Export Prices in U.S. Dollars per metric ton. Russia (Blue), U.S. PNW (White), Argentina (Red), Ukraine (Yellow)
The CME and Total Farm Marketing Offices will be closed Thursday, June 19, in Observance of Juneteenth
All prices as of 10:30 am Central Time
Corn
JUL ’25
432.5
1
DEC ’25
442.5
3.75
DEC ’26
471
1
Soybeans
JUL ’25
1074.5
0.5
NOV ’25
1069.25
1.5
NOV ’26
1083.75
-2.5
Chicago Wheat
JUL ’25
565.75
16.75
SEP ’25
582
16.5
JUL ’26
636.5
13.75
K.C. Wheat
JUL ’25
562.5
14.75
SEP ’25
578
15.5
JUL ’26
634.5
13.75
Mpls Wheat
JUL ’25
642.25
11.5
SEP ’25
656.5
12.25
SEP ’26
689
6.5
S&P 500
SEP ’25
6064.25
25.75
Crude Oil
AUG ’25
71.89
-1.38
Gold
AUG ’25
3403.3
-3.6
Corn futures remain higher at midday, supported by strength in the wheat market and heat concerns this weekend and into early next week.
LSEG has lowered their corn production estimate in Ukraine by 1.4% to 27.8 mmt. The group cited a lower planted area as the reason for the cut in production.
China’s customs data shows corn imports for the month of May declined 81.6% from a year ago to 190k tons. Year-to-date corn imports are down over 93% year-over-year to 630k tons.
Soybean prices are being lifted at midday alongside the rest of the grain market as a heatwave enters the Midwest this weekend.
The USDA announced yesterday the sale of 120k mt of U.S. soybean meal to unknown destinations for 2025/26 delivery.
According to Anec, Brazil’s soy exports are seen reaching 14.37 mmt in June, up from 14.08 mmt in the groups previous estimate.
Wheat prices continue to strengthen at midday on slow harvest pace and concerns over weather threats to winter wheat areas early next week.
LSEG has left their production estimate for Ukraine unchanged at 20.1 mmt. The group mentioned that they could trim that number later as the country faces dry weather.
Agrimer reported that soft red wheat exports are the lowest in 28 years this season as they face stiff competition from the Black Sea region.
Russia’s export duty on wheat fell 13.3% from last week to 566 rubles per mt. The new rates are reported to remain in effect until June 24.
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.
Corn is trading slightly higher this morning but still remains near support levels at $4.30 in the July contract. Improving wheat prices have likely kept corn from sliding lower as a large crop is expected.
Estimates for the weekly EIA report see ethanol production coming in lower than last week at 1.106m barrels per day while stockpiles are expected to be higher at 23.957m bbl.
In Brazil, the second crop corn harvest is ongoing which is likely adding pressure to US prices. In the US, weather has been good but is expected to turn dry.
Soybeans are trading lower this morning and are at the top end of their recent range following the bullish soybean oil news. Crude oil has begun to rally with war escalating between Israel and Iran which could lend further support to soybeans.
Soybean meal is slightly higher while soybean oil is lower, and the two have had an inverse relationship recently as more soybean crush will create excess meal. There was a flash sale announced yesterday of 200k tons of meal to unknown destinations.
China released their import figures from May which showed that soybean imports increased by 26.2% year over year to 13.92m tons. Chinese exports of rare earth fell by 31.3% in May.
Wheat is trading higher again to start the day as a slow start to US harvest coupled with crop ratings that are well below those of a year ago provide support. 10% of winter wheat has been harvested compared to 25% at this time last year.
The export duty on Russian wheat exports have fallen by 13.3% to 566 rubles per ton from 652.5 the previous week. The new rate will be in effect until June 24 and should be supportive to Russian exports.
In Ukraine, a dry weather pattern is now forecast which could threaten wheat production. So far, production estimates are unchanged at 20.1 mmt, but this number could decrease.
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.
