CORN
- September corn is trading 3/4 cents higher at $3.90 while December is unchanged at $4.12-1/4. Yesterday’s export inspections were good at 1,305k tons.
- The ProFarmer Crop Tour projected large yields and a record US corn harvest for 2025, but mentioned disease in the Midwest a number of times that could impact yields at harvest, and this has worried funds. The average yield was pegged at 182.7 bpa which compares to the USDA’s 188.8 bpa.
- Corn crop ratings were unchanged from last week at 71% good to excellent. 83% of the crop is in dough stage, 44% is dented, and 7% is mature.
SOYBEANS
- September soybeans are up 8-1/2 cents at $10.34 while November is up 7 cents at $10.54-1.2. October bean meal is up $1.90 at $291.10 while October bean oil is down 0.58 cents at 53.92 cents.
- Crop Progress saw soybean ratings improve one point from last week to 69% good to excellent. 89% of the crop is setting pods while 4% is dropping leaves.
- Yesterday’s export inspections were poor at 383k tons which compared to 503k a week ago and 420k a year ago. Top destinations were to Indonesia, Mexico, and Italy.
WHEAT
- Wheat is mixed this morning with gains in Chicago wheat and losses in KC and Minneapolis. September Chicago wheat is up 1-1/4 cents at $5.08 and September KC wheat is down 1-3/4 cents at $4.95-1/4.
- Crop Progress saw spring wheat ratings fall one point to 49% good to excellent. The spring wheat harvest is now 53% complete which compares to 69% at this time a year ago. The winter wheat harvest is now 98% complete which compared to 99% a year ago at this time.
- Yesterday’s export inspections were good at 946k tons which compared to 400k last week and 552k tons a year ago at this time. Top destinations were to Indonesia, the Philippines, and the Korean Republic.
Author
Amanda Brill