USDA GRAIN STOCKS REPORT: Corn stocks in all positions on June 1, 2025 totaled 4.64 billion bushels, down 7 percent from June 1, 2024. Of the total stocks, 2.56 billion bushels are stored on farms, down 16 percent from a year earlier.
Market Update
Cattle Producer Weather Report: El Reno, OK saw heavy morning rain tapering by midday with a high near 71°F. Amarillo, TX faces scattered afternoon storms and 72°F. Garden City, KS clears to sun with a high of 74°F, while Aberdeen, SD turns breezy with a high near 74°F and a chance of evening showers.
CLARA: Cattle Barometer
DAILY EXPORT SALES: Private exporters reported sales of 128,000 metric tons of soybeans for delivery to Mexico during the 2022/2023 marketing year
Exports
Gas prices up 5 cents this week to $3.13, down $0.06 from last year. Diesel prices up slightly this week to $3.67, down $0.44 from last year
Cash Prices
DROUGHT MONITOR: Amidst the wild and devastating weather week, drought mostly held at status quo. The West saw some improvements, and the Southern Plains saw degradations, with mostly small changes elsewhere (VIEW REPORT)
Weather
CORN MARKETS: The March contract made a new low yesterday, but didn’t see enough weakness for a new low overnight. The March contract does have four consecutive lower highs, so there is still no indication of a change in trend, or even a bottom (Schwieterman)
NBW Market Commmentary
BEFORE THE BELL: Nasdaq futures slid over 1% as rising AI cost projections from tech giants Alphabet and Microsoft disappointed investors, driving a slide in mega-cap and chip stocks, while all eyes were on the Federal Reserve's policy decision expected later in the day (Reuters)
Market Update
NATURAL GAS: The Henry Hub spot price fell 36 cents from $3.23 per million British thermal units (MMBtu) last Wednesday to $2.87/MMBtu yesterday. The Henry Hub price reached a high of $13.08/MMBtu last Friday, the highest daily closing price since February 2021, reflecting a run-up in prices observed across the country that day
Cash Prices
GRAIN TRENDS (Short Term/Long Term): CORN: Down/Down; WHEAT: Down/Down; SOYBEANS: Down/Down
National Corn Wire
OILSEED OUTLOOK (WASDE): Total U.S. oilseed production for 2023/24 is forecast at 121.5 million tons, down slightly due to a reduction for cottonseed. Soybean supply and use projections for 2023/24 are unchanged from last month
National Soybean Wire
USDA CROP PRODUCTION COMMENTS: The predicted production for soybeans in 2023 is 4.13 billion bushels, a 1 percent increase from the previous estimate but a 3 percent decrease from last year.
Market Update
Swiftly rising interest rates have led to two main problems for banks that failed to properly factor in this risk: (1) the value of their assets (think: bonds, loans, investments) fell as rates rose, and (2) customers withdrew more idle cash from their accounts in favor of higher-interest investments (Robinhood)
NBW Market Commmentary
Mortgage rates in the US faced the biggest weekly decline in nearly 41 years, providing some relief after a rapid run-up that quickly priced out homebuyers. The average rate for a 30-year fixed mortgage was 6.61%, the lowest level in almost two months (Bloomberg)
Market Update
OIL CROPS OUTLOOK (Domestic): Despite a strong start to the 2020/21 soybean meal marketing year, meal exports waned over the summer even though prices fell (VIEW REPORT)
National Canola Wire
OIL CROPS OUTLOOK (International): Throughout September, Argentina received some much-needed rainfall in the northeast region of the country (VIEW REPORT)
Ag Reports: Most Recent
AG WEATHER SUMMARY: In nearly all areas of the country, summer crop harvesting during October advanced at a torrid pace, amid frequently drier-than-normal conditions
Weather
UNITED STATES AG PRICES REPORT: Cattle prices in September 2022 were reported at $143.00, up 15.3% from last year. Calf prices were reported at $195.00, up 12.7% from last year
Cash Prices