Grain markets are starting the day off quietly mixed amid extremely low trade volume with all eyes shifting to next Tuesday’s updated S&D estimates from USDA.
SovEcon cut their forecast for Russian wheat production to 83.3 MMT, down slightly from their previous 83.6 MMT, siting poor yields seen in the country’s south, but offset slightly by good yields in other regions. SovEcon’s esti-mate for southern Russia’s wheat production fell to its lowest since 2020 at 30.2 MMT, while wheat yields in the central and Volga regions are seen up by as much as 20% – 30% year-over-year.
Private exporters reported sales of 211,680 MT (8.33 mbu) of ‘25/’26 corn in yesterday’s USDA flash sales announcement, split roughly equally between Mexico and Guatemala.
Ukraine’s Ministry of Economy said the country’s total grain harvest has reached 47% complete, down slightly from 59% at this time last year; wheat harvest was pegged at 74% with yields at 4.02 MT/Ha.
Argentina has officially wrapped up its ‘25/’26 wheat planting campaign, with Buenos Aires Grain Exchange pegging total planted area at 6.7M hectares (16.556M acres) which is up 6.3% year-over-year. Official condition ratings were not published this week, but BAGE noted that 99% of the crop is in “normal to excellent” condition (61% G/E, 36% normal last week).
Argentina’s corn harvest continues to move along slowly, advancing only 1.3% week-on-week to reach 89.3% complete, trailing last year by 7% and the previous 5YA pace by 3%. BAGE left their Argentina corn production estimate alone at 49 MMT, slightly below USDA’s current 50 MMT.
Yesterday’s rains pushed further south into MO than expected but did not make it as deep into IL. Elsewhere, the heaviest totals were seen across the Northern Plains, with a system moving through overnight and pushing across the northern 2/3 of MN, southern MB, and pushing back across ND.
Weekend forecasts shifted notably cooler for the central U.S., though the 6-10 window again shifted hotter for the Northern Plains and Canadian Prairies. South America looks to stay cool & dry over the weekend, while the E.U. is looking rather hot & dry, especially in France and the Balkans, potentially adding further stress to the corn crop there.
Local markets are mixed as processors and end users cover needs to get to the new crop, basis feels steady to weaker as the crop gets closer to maturity. New crop sales are slow and there is a potentially a big crop coming and the markets reflect the anticipation of such as we hang toward the bottom of the charts.
Have a great day.
Grain Comments: 08-08-2025
Grain markets are starting the day off quietly mixed amid extremely low trade volume with all eyes shifting to next Tuesday’s updated S&D estimates from USDA.
SovEcon cut their forecast for Russian wheat production to 83.3 MMT, down slightly from their previous 83.6 MMT, siting poor yields seen in the country’s south, but offset slightly by good yields in other regions. SovEcon’s esti-mate for southern Russia’s wheat production fell to its lowest since 2020 at 30.2 MMT, while wheat yields in the central and Volga regions are seen up by as much as 20% – 30% year-over-year.
Private exporters reported sales of 211,680 MT (8.33 mbu) of ‘25/’26 corn in yesterday’s USDA flash sales announcement, split roughly equally between Mexico and Guatemala.
Ukraine’s Ministry of Economy said the country’s total grain harvest has reached 47% complete, down slightly from 59% at this time last year; wheat harvest was pegged at 74% with yields at 4.02 MT/Ha.
Argentina has officially wrapped up its ‘25/’26 wheat planting campaign, with Buenos Aires Grain Exchange pegging total planted area at 6.7M hectares (16.556M acres) which is up 6.3% year-over-year. Official condition ratings were not published this week, but BAGE noted that 99% of the crop is in “normal to excellent” condition (61% G/E, 36% normal last week).
Argentina’s corn harvest continues to move along slowly, advancing only 1.3% week-on-week to reach 89.3% complete, trailing last year by 7% and the previous 5YA pace by 3%. BAGE left their Argentina corn production estimate alone at 49 MMT, slightly below USDA’s current 50 MMT.
Yesterday’s rains pushed further south into MO than expected but did not make it as deep into IL. Elsewhere, the heaviest totals were seen across the Northern Plains, with a system moving through overnight and pushing across the northern 2/3 of MN, southern MB, and pushing back across ND.
Weekend forecasts shifted notably cooler for the central U.S., though the 6-10 window again shifted hotter for the Northern Plains and Canadian Prairies. South America looks to stay cool & dry over the weekend, while the E.U. is looking rather hot & dry, especially in France and the Balkans, potentially adding further stress to the corn crop there.
Local markets are mixed as processors and end users cover needs to get to the new crop, basis feels steady to weaker as the crop gets closer to maturity. New crop sales are slow and there is a potentially a big crop coming and the markets reflect the anticipation of such as we hang toward the bottom of the charts.
Have a great day.
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