Wednesday July 9th, 2025

• Markets are in the red today, with minimal weather threats standing in the way of a potential record yield and massive crop.
• December corn futures fell to new contract lows, as traders debate the 2025 US crop size.
  • Midwest soil moisture levels are broadly adequate.  The overnight Central US temperature forecast calls for a cooler than normal reading next week, ideal for pollinating/filling corn.
  • The Central Corn Belt is expected to receive 1-3 inches of rain this week.
• Parts of the Northern Plains, where spring wheat is growing, will see less rain than originally expected in the next six to 10 days.
• Russia’s SovEcon raised their 2025/26 wheat export estimate from 40.8 to 42.9MMT.
• Flash Sales:
  • US exporters sold 144,000MT of soybean meal to the Phillipines. 
  • 97,000MT for 2024/25 delivery and 47,000MT for 2025/26.
  • 112,776MT of corn sold to Mexico for 2025/26 delivery.