Soybeans Down Nearly 25¢. Monday, July 7, 2025
As of 9:12 a.m. CT, December corn was down 13¢ at $4.24 per bushel.
November soybeans were down 24¾¢ at $10.24½ per bushel.
September CBOT wheat and KC wheat were down 14¢ at $5.42¾ per bushel and $5.22 per bushel, respectively. September Minneapolis wheat was down 8¾¢ at $6.38½.
“The Fourth of July holiday weekend is often very pivotal for corn and soybean prices, and that looks to be the case once again this year as well,” said Arlan Suderman, chief commodities economist at StoneX. “Traders returned from their holiday break last night to find that the 15-day outlook, that extends deep into the corn pollination period, continues to look quite favorable for crop development, with the outlook beyond that looking a bit better as well. Traders shifted into an assumption that the crops will be big until shown otherwise, triggering a fresh round of speculative selling.”
Al Kluis, managing director of Kluis Commodity Advisors highlighted a couple different reasons for grains being lower overnight:
“First: Trump spoke in Iowa on Friday night and did not bring up China or any promises of any trade deal with China. Wednesday is July 9, when a lot of the increased tariffs go into effect.
“Second: Energy prices were sharply lower on the open last night with OPEC+ announcing they would increase daily crude oil production by 548,000 barrels. This was larger than expected and is viewed as a way to slow down expansion in U.S. crude oil production.”
As of 9:11 a.m. CT, August crude oil was up 34¢ at $67.34 per barrel.
This morning, USDA announced Mexico is buying 135,000 metric tons of corn — 29,000 metric tons for the 2024/2025 marketing year, and 106,000 metric tons for the 2025/2026 marketing year.
August livestock were higher as of 9:11 a.m. CT. Live cattle were up $1.25 at $215.30 per hundredweight (cwt). Feeder cattle were up $2.85 at $312.35 per cwt. Lean hogs were up 30¢ at $106.40 per cwt.
The U.S. Dollar Index September contract was up to 96.95.
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