Corn Closes Down Nearly 2¢

July corn ended the day down 1¾¢ at $4.37 per bushel.

July soybeans closed down 7¼¢ at $10.50½ per bushel.

July wheat contracts closed mixed. CBOT wheat ended the day down less than a penny at $5.34¼ per bushel. KC wheat was down a penny at $5.26¼. Minneapolis wheat was up 4¢ at $6.17¼.

“The grain markets [had] a day of positioning ahead of the USDA WASDE [World Agricultural Supply and Demand Estimates] report coming at us tomorrow,” said Aaron Huebner, senior market analyst at CHS Hedging. “News was limited as most will wait for tomorrow’s numbers and any updated weather forecasts. Yes, we are at that time of year where the meteorologist is considered primetime.”

The June 2025 USDA WASDE report is expected at 11 a.m. CT tomorrow.

August livestock closed mixed. Live cattle ended the day down 18¢ at $218.03 per hundredweight (cwt). Feeder cattle closed down $2.08 at $311.08 per cwt. Lean hogs were up 40¢ at $110.20 per cwt.

As of 3:42 p.m. CT, July crude oil was up $3.05 at $68.03 per barrel.

June S&P 500 futures were down 17 points. June Dow futures were down 25 points.

Published: 4:05 p.m. CT

Corn Down Slightly: 10:08 a.m. CT

Ahead of 9:30 a.m. CT, July corn was down less than a penny at $4.38½ per bushel.

July soybeans were down 3¢ at $10.54¾ per bushel.

July wheat contracts were higher. CBOT wheat was up 3¼¢ at $5.37¾ per bushel. KC wheat was up 6¢ at $5.33¼. Minneapolis wheat was up 5¢ at $6.18¼.

“China and the United States appear to once again have an agreement after another set of high-level trade talks,” said Arlan Suderman, chief commodities economist at StoneX. “I mentioned yesterday how the differences between the two countries are vast — probably wider now than they were two months ago. Yet, they are establishing a pattern of finding areas to agree on each time they have high-level talks.

“The details of the current agreement are just coming out, but President Trump’s post on social media suggests that U.S. tariffs on China roll back to 55%, while China gets 10%. Of course, that 10% is likely on top of all of the other tariffs that China continues to charge. The 55% charged by the U.S. includes Trump’s baseline 10% reciprocal tariff, along with a 20% tariff for fentanyl trafficking, and a 25% tariff reflecting pre-existing tariffs.

“The agreement apparently includes guarantees that China will supply magnets and rare earth minerals to the U.S., while we loosen restrictions on technology that we export, and allow Chinese students to enroll in our colleges and universities. The latter had received increased scrutiny after a total of three Chinese nationals were arrested over the past two weeks while trying to smuggle biologicals that could have been used for agroterrorism into the U.S. via the University of Michigan. The agreement is still subject to final approval from both Trump and Chinese President Xi Jinping.”

Ahead of 9:30 a.m. CT, August livestock were mixed. Live cattle were down $1.28 at $216.93 per hundredweight (cwt). Feeder cattle were down $2.45 at $310.70 per cwt. Lean hogs were up $1.08 at $110.88 per cwt.

July crude oil was up $1.50 at $66.48 per barrel.

The U.S. Dollar Index June contract was down to 98.73.

June S&P 500 futures were up 18 points. June Dow futures were up 140 points.

Published: 10:08 a.m. CT