Weekly Market Update 5/29/2025

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

Trivia

1. The Renaissance began in which country in the 14th century? 

2. What does FM stand for?

Answers at the bottom.

Market News

RIVER VALLEY WHEAT: GCC will be taking farmer wheat at our River Valley Terminal in Holcomb this wheat harvest. We are excited that our current wheat program will allow us to do so. All grain that goes into this facility must be pre-contracted and hit specifications needed for upcoming trains. For more information or to contract grain into this facility, please reach out to a member of the Grain Origination team!

STALLED TARIFFS: Senior officials in the Trump administration downplayed the significance of a U.S. trade court ruling that blocked President Trump's tariffs, expressing confidence it would be overturned on appeal. The ruling stated that Trump overstepped his authority by using the International Emergency Economic Powers Act to impose broad tariffs, although some sector-specific tariffs remain unaffected. Financial markets reacted with cautious optimism, as the S&P 500 rose by about 0.5%. Canadian Prime Minister Jay Carney praised the ruling, while U.S. trading partners responded with caution; the British government considered it a domestic issue. Analysts believe it is too early to conclude that Trump’s tariffs are finished, as other legal avenues may still be pursued. Companies continue adjusting their forecasts, and some are considering relocating to mitigate the impact of the tariffs. Critics, including small business owners and state officials, argue that these tariffs have led to increased prices and supply chain disruptions.

ECONOMIC NEWS: Jobless claims rose more than expected last week, according to Labor Department data released this morning. Initial claims totaled 240,000 for the week ending May 24^th, up 14,000 from the previous week and ahead of the trade estimate of 230,000. Economists believe the increase in filings is due to an uptick in layoffs because of economic uncertainty. Meanwhile, the Commerce Department reported that GDP was lower by 0.2% in the first quarter, which was 0.1% below the initial estimate. Most of the decline came from an uptick of imports pre-tariffs, and consumer spending not rising at the pace expected. Outside markets are mixed today.

EXPORTS: Due to the holiday week, sales will be released tomorrow. However, this week's inspected corn totaled 55.0 million bushels, which aligns with estimates and remains on track for the seasonal pace, 6 percent above the required rate. Of this total, shipments to Japan and Mexico accounted for 26.4 million bushels. The wheat complex reached 20.6 million bushels, surpassing expectations, with hard red winter (HRW) wheat contributing 8.0 million bushels. Additionally, there was some activity in milo, with 2.0 million bushels shipped, although this is still below the expected pace. Soybeans ended on the lower side of estimates at 7.2 million bushels, with Mexico and Egypt noted among the top destinations for shipments.

CROP CONDITIONS & PLANTING PROGRESS: More moisture has graced our presence throughout much of the GCC territories this week – further slowing planting progress in some portions of the Midwest. As of Sunday, winter wheat was rated 50% good/excellent across the United States with Kansas ratings at 48% good/excellent, Oklahoma at 46%, followed by Texas at 26%. Fall 2025 corn crop is reported to be at 87% planted; up 9% from last week’s values and up 6% from values of late-May last year. The United States soybean crop is 76% planted as of early this week. Sorghum is reported as 39% planted this week across the US – the state of Texas leading the way at 81% planted.





WEATHER: Skies are mostly cloudy today with a high of 65ºF – a 20% chance of scattered showers and thunderstorms possible before noon. Sunny, clear skies are in store for your weekend forecast, with temperatures anticipated around 85 ºF during the day and overnight temperatures sitting comfortably in the mid-50s. Early next week brings with it another chance of showers and thunderstorms. All day Monday and overnight Tuesday is looking at a 20% chance of showers and thunderstorms. High temperatures next week are expected to be in the upper-80s with mostly sunny skies across the first half of your week.
 

Trivia Answers

1. Italy

2. Frequency Modulation