CORN

• Corn remains higher at midday, supported by strong weekly export sales announcements.
• Weekly corn export sales came in at 61 mb, which was in line with trade expectations. Year-to-date commitments now total 2.048 billion bushels, up 25% from last year.
• Much of the Midwest is slated to see some precipitation over the next 7-10 days but favors mostly the eastern Corn Belt.

SOYBEANS

• Soybean prices remain pressured at midday by poor weekly export sales results from last week.
• Weekly soybean export sales came in below expectations at 13 mb. Year-to-date commitments total 1.669 billion bushels, up 13% from a year ago.
• Abiove lowered their Brazil soybean production estimate for 2025 from 171.7 mmt to 170.9 mmt. This compares to the USDA’s estimate of 169 mmt.
• The USDA attaché in Beijing sees Chinese soybean imports reaching 106 mmt for 25/26.

WHEAT

• Wheat prices remain soft at midday amid a rising dollar and potential acreage increases in the upcoming acreage report.
• Weekly wheat export sales came in at 10 mb, which was below trade expectations. Year-to-date commitments total 766 mb, up 13% from last year.
• Prices may find support on dips as drought conditions persist through much of the Southern Plains and Black Sea region.

Author

Tanner Wilson