Thursday May 29th, 2025

• The market is mixed this morning with both corn and soybeans in the red and wheat trading a few cents in the green. 
• Fundamental news has been scarce over the past few trading sessions. To sustain momentum, a bull market needs to be fed consistently, and right now, the steady stream of positive news required just isn’t there.
• While corn planting progress is lagging behind pre-report estimates, the market isn’t overly concerned yet, especially with only one fringe state, Ohio, struggling to get crops in the ground. If planting delays were more widespread, the market might start to pay closer attention.
  • Indiana and Illinois are slightly behind their five-year averages, but they’re still ahead of where they were at this point last year.
• Flash Sales:
  • Exporters sold 104,000mt of corn to Mexico for 24/25 delivery.
  • 101,096mt of corn to Unknown for 24/25 delivery.
• Argentina is being aggressive marketing their new new crop corn for export. Values they are offering are $0.20/bu below the US with Brazil offering corn through December at values $0.10/bu below the US gulf. 
• Indians large wheat harvest has eliminated the need for imports this season. Their government estimates production will reach a record 115.4mmt, 9% higher than last season.