Grain > Commentary > 7-1-2024

7/1/2024

Jul 01, 2024

Wheat led the way to open up the holiday week with gains ranging from 12-18 cents across the different classes.  Unable to finish higher on Friday after a friendly report, soybeans reversed off of fresh lows this morning, gaining traction throughout the session to finish 7-12 cents higher.  Corn struggled most of the session to hold near unchanged but pulled some bids together in the final hour to finish mostly higher with the Sep and Dec 24 contracts fractionally lower.  Weekly export inspections were with within their expected ranges but volumes are beginning to fall which should be no surprise considering the point of the marketing year we are in.  Corn inspections totaled 820k tonnes and soybean shipments came in at 303k tonnes.  The seasonal pace for soybeans remains unchanged, maintaining a 30-million-bushel surplus.  Corn shipment pace fell backwards from a 28-million-bushel surplus to a 19-million-bushel surplus.  The weekly crop conditions report later today is expected to lower the ratings on the corn and soybeans and updated weather forecasts are favoring hot and dry weather for July.  We need these to materialize to help establish a foothold in the market.

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8/12/2025
Aug 12, 2025
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5/12/2025
May 12, 2025
News broke Sunday that the USA and China have agreed to ease tensions and lower tariffs.  The US is lowering tariffs on Chinese goods from 145% to 30%.  China is lowering their import tariffs from 125% to 10%.  Talks will resume in the coming weeks.  This news had stocks, grains and oil higher overnight. Then of course we had a USDA grain report come out at 11:00 this morning.  That was also a bit friendly.
3/31/2025
Mar 31, 2025
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