Summary of Agricultural Commodities Report
Date: July 11, 2025
Overview
The agricultural commodities market is currently experiencing muted activity as traders await the release of the USDA's July WASDE report, scheduled for 4 PM GMT today. Prices for key commodities such as wheat, soybeans, and corn are hovering near their lows, with slight declines noted across the board.
Commodity Price Movements
- Wheat: $517.59, down 0.15% (0.7% loss noted)
- Soybean: $1062.77, down 0.44%
- Corn: $445.33, down 0.28%
Market Insights
Corn
Recent data indicates a bullish sentiment for corn, driven by strong export performance and a rebound in ethanol production. Old-crop corn exports have exceeded expectations, reaching 102.3% of the USDA's forecast, compared to a 5-year average of 94.4%. Ethanol production has also surpassed necessary levels for five consecutive weeks. Analysts anticipate an upward revision in old-crop exports and possibly ethanol, while new-crop production estimates may be lowered due to reduced acreage.
Soybean
The soybean market is showing signs of tightening stocks amid steady demand. Export inspections are slightly above the 5-year average, and soybean crush has increased, with May figures at 204 million bushels compared to 192 million last year. Market expectations include slightly higher old-crop exports and lower ending stocks, with potential reductions in new-crop ending stocks due to acreage cuts. No changes in demand or yield for the new soybean crop are anticipated.
Wheat
Wheat export sales are slightly above the norm, accounting for 29.4% of the USDA estimate versus a 5-year average of 25.5%. However, export inspections are lagging behind schedule. Expectations for wheat include a slight increase in carryout due to larger planted acres and quarterly stocks, with no anticipated changes to yield or demand.
Conclusion
As the market awaits the USDA's WASDE report, traders are closely monitoring the performance of these key agricultural commodities. The insights gathered from current export data and production levels will be crucial in shaping market expectations and trading strategies moving forward.