Grains in the Red Again. Tuesday, July 8, 2025
As of 9:17 a.m. CT, December corn was down 6¼¢ at $4.14½ per bushel.
November soybeans were down 5¼¢ at $10.15½ per bushel.
September CBOT wheat was down 2¼¢ at $5.46¼ per bushel. September KC wheat was down 5¼¢ at $5.22¼ per bushel. As of 9:15 a.m. CT, September Minneapolis wheat was down 5½¢ at $6.31¾.
This morning, the USDA announced new export sales:
- The Philippines are buying 144,000 metric tons of soybean meal — 97,000 metric tons for the 2024/2025 marketing year, and 47,000 metric tons for the 2025/2026 marketing year.
- Mexico is buying 112,776 metric tons of corn for the 2025/2026 marketing year.
On the topic of trade, Arlan Suderman, chief commodities economist at StoneX, said this morning: “President Trump sent letters to 14 nations telling them that they face higher tariffs starting Aug. 1 due to their failure to reach agreements with the United States during the 90-day pause. Those rates varied from 25% for Japan and South Korea to 40% for Laos and Myanmar. Several of the above 14 countries indicated that they plan to continue negotiations in hopes of reaching a deal prior to Aug. 1.”
Concerning the announcement of tariffs on goods from Japan and South Korea, Al Kluis, managing director of Kluis Commodity Advisors, said: “These are two of the largest buyers of U.S. ag products. It was a threat, but I expect an extension or a deal framework to be announced later this week.”
Kluis also said: “The current grain trade environment reminds me of when the grain markets bottomed on April 7–8. That is when panic selling dropped prices before the administration changed course on its threats for tariffs. The short-term cycles I work with project a low by Thursday or Friday.”
August livestock were mixed as of 9:17 a.m. CT. Live cattle were up $1.30 at $217.20 per hundredweight (cwt). Feeder cattle were up $1.68 at $315.40 per cwt. Lean hogs were down 28¢ at $106.83 per cwt.
August crude oil was up 10¢ at $68.03 per barrel.
The U.S. Dollar Index September contract was up to 97.43.
Further development of the grain and oilseed markets of Ukraine and the Black Sea region will be in the spotlight of the BLACK SEA GRAIN. KYIV conference, taking place on April 22–23 in Kyiv. The event will focus on strategic directions for the agricultural sector through 2030, including investments, energy independence, processing, and exports of high-value products.
Join strategic discussions and networking with industry leaders to gain актуальна insights, discover new business opportunities, and build partnerships with key market players.
Read also
Black Sea & Danube: Crop and Export Forecast
Ukraine to expand sunflower and rapeseed area while soybeans decline — FAS USDA
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