Tag: Wheat

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  Morning Grain Comments – September 4, 2025

  Grains and oilseeds are mixed on Thursday. The U.S. dollar is higher. Crude oil is sharply lower. Stock futures are mixed.

  Written by

  Dawson Schmitt

  ·

  September 4, 2025

  Grains and oilseeds are mixed on Thursday. The U.S. dollar is higher. Crude oil is sharply lower. Stock futures are mixed.

  CORN
  December corn is up 0.75 cents at $4.18 ¾. March corn is up 0.75 cents at $4.36 ¾.

  Futures sold off on Wednesday as the recent short-covering rally dried up. Prices looked like they were going to trade up to and test the 100-day moving average, but failed to reach the level.

  The U.S. corn crop has been maturing slightly behind the normal rate in the USDA’s Crop Progress report. Late-planted crops may benefit from recent rainfall in the eastern Corn Belt this week.

  Reports of disease remained this week, likely adding support to the recent rally.

  SOYBEANS
  November soybeans are 6 cents lower at $10.25 ½. January soybeans are down 6 cents at $10.44. Soybean oil is lower after being pressured by crude oil prices. Soybean meal is lower.

  Futures have fallen under pressure this week from lower soybean meal prices. Soybean oil struggling has also added pressure.

  The November soybean contract broke below the 200-day moving average on Wednesday, and now the 100-day average overnight.

  Dry areas in the southern and eastern Corn Belt are getting some rainfall this week, though it could be late for many crops following the historically dry August. Late-planted crops may benefit, which could be helping pressure soybean futures this week.

  Rain is making its way into Southern Brazil this week, where farmers will begin planting soybeans soon.

  WHEAT
  December Chicago wheat is down 5.25 cents at $5.16 ¾. KC wheat is down 5 cents at $5.05 ¼. Spring wheat is down 1.50 cents at $5.71 ½.

  Chicago futures fell under pressure again on Wednesday, with prices posting fresh contract lows overnight.

  Large U.S. and global supplies remain an anchor to the wheat complex. Wheat has struggled to rally since the June 19 peak, leaving plenty of work for the market to bottom. The trend is clearly bearish, with KC wheat as the weak link.

  Weekly spring wheat stocks in warehouses in the Northern Plains have been well above year-ago levels since early spring. Stocks are expected to rise over the next few weeks as harvest wraps up.

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  PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.

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  Morning Grain Comments – September 3, 2025

  Grains and oilseeds are mostly lower on Wednesday morning following the overnight session. The U.S. dollar is lower. Crude oil is sharply lower. Stock futures are mixed, with the S&P 500 trading higher.

  Written by

  Dawson Schmitt

  ·

  September 3, 2025

  Grains and oilseeds are mostly lower on Wednesday morning following the overnight session. The U.S. dollar is lower. Crude oil is sharply lower. Stock futures are mixed, with the S&P 500 trading higher.

  CORN
  December corn is down 3.50 cents at $4.19 ½. March corn is down 3 cents at $4.37 ¾.

  Futures extended gains on Tuesday following an initial lower start to the session that took December prices 2.75 cents higher on the day.

  Corn exports continued to move at a historically strong pace last week, with inspections totaling 1.41 MMT, up 46 percent year-over-year.

  U.S. corn ratings slipped lower last week, with 69 percent of the crop in good-to-excellent condition. That was down two percent from the previous week but higher than the 65 percent seen the same week last year.

  SOYBEANS
  November soybeans are down 3.50 cents at $10.37 ½. January soybeans are down 3.50 cents at $10.56. Soybean oil is lower. Soybean meal is lower.

  November futures traded 13.50 cents lower on Tuesday, falling under pressure from soybean meal. Whole soybean prices have been trading at the upper end of a large range, with resistance around $10.60 a bushel.

  Soybean oil traded higher on the day, though prices have been weaker lately due to concern about biofuel demand.

  There are still some questions about how the EPA’s latest small refinery waiver exemptions will impact biofuel demand. Soybean oil used in U.S. renewable fuel production has recovered in the second quarter of this year, but has yet to recoup losses from the previous quarter.

  The USDA confirmed that private exporters sold 185,000 MT of soybean meal to the Philippines for the 2025/26 marketing year.

  U.S. soybean ratings declined by four percent last week to 65 percent good-to-excellent. Conditions were unchanged from the same week last year.

  WHEAT
  December Chicago wheat is 1.25 cents lower at $5.27. KC wheat is up 0.75 cents at $5.12. Spring wheat is down 2.75 cents at $5.71 ½.

  Chicago futures pushed sharply lower on Tuesday before running out of sellers later in the session and closing 6 cents lower. Prices have been consolidating since early August, so far avoiding new contract lows, while KC prices remained the weakest.

  The spring wheat harvest is well past the halfway mark, according to the USDA on Tuesday.

  France milling wheat prices are the cheapest globally due to heightened competition in Europe. U.S. HRW wheat is the highest priced on an FOB basis. U.S. prices could continue to face pressure if European and Black Sea prices move lower.

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  PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.

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  Morning Grain Comments – September 2, 2025

  Grains and oilseeds are lower following the long holiday weekend. Crude oil is higher. The U.S. dollar is higher, likely adding pressure to crop prices. Stock futures are sharply lower.

  Written by

  Dawson Schmitt

  ·

  September 2, 2025

  Grains and oilseeds are lower following the long holiday weekend. Crude oil is higher. The U.S. dollar is higher, likely adding pressure to crop prices. Stock futures are sharply lower. 

  CORN

  December corn is down 3.25 cents at $4.17. March corn is down 2.25 cents at $4.35.

  Futures are off to a weaker start on Tuesday, following Friday’s sharp rally to a one-month high. December futures started last week off on a weaker note before finishing 8.75 cents higher than the week before. 

  Prices have been working to shake off concerns over a record crop, as demand has helped chew through larger supplies. 

  An early look at Brazil’s upcoming summer crop season is bearish, as government weather models point toward an early start to the monsoon season. 

  SOYBEANS

  November soybeans are down 13.50 cents at $10.41. January soybeans are down 12.75 cents at $10.59 ¾. Soybean oil is higher. Soybean meal is lower. 

  Futures saw strength heading into Friday’s close on the back of corn and wheat. Continued pressure in soybean meal futures led the complex lower out of the gate on Tuesday. 

  The USDA will report U.S. crush data for July this afternoon, which is expected to show a good print. Domestic crush has certainly been key to keeping demand from falling extensively, as exports have been waning compared to previous years. 

  WHEAT

  December Chicago wheat is down 9.25 cents at $5.25. KC wheat is down 9.75 cents at $5.10. Spring wheat is down 9.25 cents at $5.70 ¾. 

  Futures took back gains overnight following Friday’s stronger trade. KC wheat futures have been an anchor, with plenty of bearish news in the global marketplace. 

  Australia’s government raised its 2025 wheat forecast to 33.8 MMT, up 10 percent from the previous quarter’s estimate in June. The crop is expected to be the fourth-largest on record, which will continue to compete for global exports. 

  Russian-based consultancy firm SovEcon raised its 2025/26 Russian wheat export forecast to 43.7 MMt, up 0.4 MMT from the previous estimate. The firm cited a relatively favorable crop forecast. Exports could struggle amid strong global competition. 

  Russia has been trying to gain access to China’s market to ship more winter wheat to the country. China has been reducing its wheat imports after domestic production recovered.

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  PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.