Weekly Market Update 7/24/2025

Here is your weekly market update from the Garden City Co-op Grain Origination Team.

Trivia

1. What is the largest desert in the world? 

2. Which 1950s crooner sang the hit "Beyond the Sea"? 

Answers at the bottom.

Market News
 

CROP PROGRESS: Corn crop conditions reported on Monday were unchanged from the values seen last week. Across the United States, fall corn is rated at 74% good/excellent: 78, 64, and 70% for Nebraska, Kansas, and Texas, respectively.  Despite what many people have believed to be favorable weather conditions across the Plains region, the percentage of soybeans rated good/excellent was 68% this week, a 2% decrease from crop ratings reported last week. Kansas soybeans came in at 64% good/excellent this week, decreased 5% from last week’s values. Milo painted a similar picture this week with the United States crop rated as 68% good/excellent – last week 69% good/excellent.

 

EXPORTS INSPECTIONS: Corn inspections this week totaled 38.7 million bushels, falling below USDA trade estimates this week by 4.6 million bushels. Final destinations this week include Mexico, South Korea, Colombia, Japan, and Taiwan. Wheat inspections totaled 26.9 million bushels this week, a 10.6 million bushel increase when compared to those volumes inspected last week. Soybean inspections came in at 13.4 million bushels this week and no milo inspections were reported.

 

EXPORT SALES: Old crop corn export sales totaled 25.3 million bushels this morning and N/C sales were reported as 28.9 million bushels sold as we begin slipping into the later portion of the summer. Corn sales were below the running 10-week average this week by 10.4 million bushels. Soybean sales totaled 5.9 million bushels this week, with 8.8 million bushels of N/C sales reported. Old crop wheat sales totaled 26.2 million bushels, exceeding the upper end of USDA trade estimates by 7.8 million bushels. Milo sales totaled 1.3 million bushels this week and sit 25% below the marketing year-to-date sales relative to the seasonal pace needed to reach USDA targets.

 

OUTSIDE MARKETS: The S&P 500 and Nasdaq are moving higher today, driven by higher than expected quarterly results from tech giant Alphabet. Both the S&P and Nasdaq hit new intraday all-time highs earlier this session. The market also has its eye on ongoing tensions between President Trump and Federal Reserve Chairman Jerome Powell, who are slated to meet this afternoon at the Fed. This is the first time in almost 20 years that an American President has made an official trip to the central bank.

 

JAPAN TRADE DEAL: It was announced earlier this week that the Trump administration reached a major trade agreement with Japan, which includes decreases on Japanese auto imports from 27.5% to 15% and other tariffs reduced to 15% in exchange for a $550-billion package of U.S.-bound investment and loans. As part of the deal, Japan will buy 100 Boeing planes and hike defense spending with U.S. firms to $17 billion annually, from $14 billion, according to Reuters. Japan has also agreed to buy $8 billion in agricultural and other products and increase rice purchases by 75%. The hope is that this deal paves the way for other trade deals before the August 1^st increased tariffs go into effect. U.S. and Chinese officials are set to meet in Stockholm next week to discuss an extension on the deadline for negotiating a trade deal.

 

WEATHER: Skies today are partly sunny and cooler with highs near 86°F with northeast winds around 10 mph. Tonight there is a 20% chance of showers and thunderstorms after 9pm with lows around 66°F. Tomorrow stays cooler with high of 86°F, beginning cloudy and clearing off gradually through the morning. Friday night lows are near 65°F. The weekend brings back high 90s and slight breeze 6 – 13 mph. Overnight temperatures remain around 70°F. Early next week stays in the upper 90s with a 20% chance of showers and thunderstorms Tuesday night.

Trivia Answers

1. Antarctica

2. Bobby Darin