Weekly Market Update 7/3/2025

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

Trivia

1. In one of the most popular Dr. Seuss books, what won't Sam-I-Am eat? 

2. What president was a licensed bartender?

Answers at the bottom.

Market News

4th of July Trading Schedule:
Today, July 3rd: Normal close/no overnight
Friday, July 4th: No day/night session
Sunday, July 6th: Normal PM open
 

Market Commentary: Markets have been mixed this week and are quiet headed into the holiday weekend. The week started lower with great weather conditions across the Corn Belt, a bump to corn ratings and steady soybean ratings, and a mostly as-expected Stocks and Acreage Report. Ideal forecasts remain in place through mid-July for much of the Corn Belt. After massive fund selloffs the last few weeks, daily trade estimates do indicate that the funds have been buying this week, supporting some of the upward momentum we’ve had here at the last two days. There is also a lot of market chatter about President Trump’s scheduled trip to Des Moines today, where he is expected to announce completed trade deals. Coincidentally , or maybe not so coincidentally, we did see some flash sales of corn, soybeans, and soybean meal this morning to “unknown.” Time will tell.  

CROP PROGRESS: The corn rating stood at 73% good/excellent, an increase of three percentage points from last week and exceeding the five-year average. In Kansas, the corn rating was 66% good to excellent, which is still above average. Nationally, soybeans were rated at 66% good/excellent, while in Kansas, the rating was slightly higher at 67%. For winter wheat, the condition was reported at 48% good/excellent, a decrease of one percentage point from the previous week, and the rating for Kansas was also 48% good/excellent. As for the wheat harvest, 37% of the crop has been harvested nationally, while in Kansas, the progress is at 53%, indicating that we are halfway through the harvest.

EXPORT INSPECTIONS: Corn inspections this week totaled 53.9 million bushels, sitting in-line with USDA estimates. Shipments to Mexico, Japan, and South Korea accounted for 32.9 million bushels this week, with the remaining portion of corn shipping to Colombia and Spain. Wheat inspections totaled 16.0 million bushels, a 6.6 million bushel increase compared to the volume inspected last week. Soybeans came in at 8.3 million bushels inspected this week and milo totaling 0.4 million bushels, a 5.5 million bushel decrease compared to last week.
 
EXPORT SALES: Old crop corn export sales totaled 21.0 million bushels this morning. Sales once again fell below the running 10-week average this week. New crop corn sales totaled 37.0 million bushels. Soybean sales totaled 17.0 million bushels this week, with 8.8 million bushels of N/C sales reported. Wheat sales totaled 21.5 million bushels with much of the volume traveling to final destinations of the Philippines and Thailand. Milo sales totaled 2.8 million bushels this week and remain 23% below the marketing year-to-date sales relative to the seasonal pace needed to reach USDA targets. 




WEATHER: Skies today are mostly sunny with highs near 89°F with winds out of the south of 18-22 mph. Tonight, clouds will increase with lows around 67°F. Independence Day brings clouds and highs near 89°F with a 10% chance of showers and thunderstorms after 5pm with thunderstorm chances increasing to 50% between 7pm and 1am. The weekend looks to be back in the 90s with slight thunderstorm chances in the evenings. Early next week will be in the mid-90s with more slight chances for thunderstorms in the evenings. 

Trivia Answers

1. Green Eggs and Ham

2. Abraham Lincoln