June 18th Grain Marketing Update

Good Morning!

I hope you’re having a great week so far. I was able to travel to Atlanta, IN, to Beck’s on Tuesday to present to a group, and as always, it was an interesting drive. They’re wet over there. Water is standing everywhere. Around our place, we are supposed to get rain today, and given how hot it’s going to get, I’ll take a nice shower. We aren’t dry here yet, but this time of year, a guy rarely turns down a rain. We still don’t have all our hay baled, so it’s a bit aggravating. Hopefully, we’ll get past this one today and be able to get it all wrapped up. We only have one playing baseball yet, but it’s two nights a week, so it’s a bit busy. I appreciate all the feedback - I know some in Ohio have been dealt a tough hand, while I’ve heard from a few in Iowa that they are too dry. This crop is far from in the bin, but it looks good overall so far. Keep the correspondence coming. For more info on AgMarket, CLICK HERE. https://hubs.li/Q03qt2Qd0  

The corn market was up for the most part on Tuesday after getting smoked on Monday, while beans have seen some buying after the renewable fuels announcement. The weather hasn’t offered much direction just yet, as we’re getting hot, but enough moisture has been present to keep the crops looking good. Outside markets should have provided a mixed bias:

• The US Dollar settled up .842 at 394.
• July crude oil settled 07 higher at 74.84.
• The DOW settled 309 points lower at 42,228.  

CORN

The corn market got roughed up on Monday, but some buying came in on Tuesday, other than on the July contract. July closed down 3 ¼ at $4.31 ½. This was 6 off the high and 2 off the low. Weekly export inspections were similar to big totals from last week at 1.673mmt. We are still ahead of the USDA pace, even after they raised exports last week. I imagine we’ll see them raised once again in July. Planting progress is essentially finished in most states, so the main emphasis now is crop ratings. The good-excellent rating came in at 72%, which was one point better than a week ago. This crop indeed looks good overall, but we really need to see continued rainfall if we’re going to realize a 181 yield. It’s tough to assume that big of production, but we are going to need it with the type of demand we’ve built in. There is positive news on renewable fuels, with US ethanol essentially preferred over imported ethanol, which should further bolster our cause. Big-time exports this marketing year can’t be counted on for the next marketing year, but we are competitive for now. While I’m tired of this market standing still to moving lower, I’m not selling in here. I want to see what the weather offers over the next few weeks. December corn was up 3 ¾ on Tuesday, settling at $4.38 ¾.  

July 2025 Corn Chart

SOYBEANS

Soybeans continue to see some buying support in the market. On Tuesday, July beans were up 4 ¼ at $10.74. This was 1 ¼ off the high and 10 ¼ off the low. Soybean meal was up 1.4 at 285.1, while soy oil was down .32 at 54.79. Soybean export inspections were well below a week ago at 215k tons. This total was less than half of a week ago and under expectations. For planting progress, we saw 93% of the beans planted, and 84% emerged. The good/excellent rating came in 2% worse than a week ago at 66%. I believe we should keep an eye on bean conditions as many have lamented getting them in later than they prefer and stand issues. While Mother Nature will have the ultimate say in beans, there’s no doubt we had some issues getting this crop in the ground. US beans are competitive in the world export market, which is good to know. With solid crush demand expected after the positive renewable fuels proposed legislation, hopefully we’ll see domestic demand get stronger moving forward. On Tuesday, November beans closed 7 ¼ higher at $10.67 ¾. Patience has paid on beans, but I’d make sure to get offers in place. While we could still see some more up due to demand news, I like locking in rallies on the way up.

July 2025 Soybean Chart

Until next time!

Matt Bennett
mbennett@agmarket.net
Work: 815-665-0462
Twitter: @chief321