Written Commentary
UNICA Report Approaches
August 14, 2025
CORN
CU ended near 3.87. There is talk that StoneX will release a corn yield higher than USDA. Informa crop est will be released tomorrow. Weekly US corn exports were 47 mil bu. Season to date exports are 2,423 mil bu vs 1,888 last year. USDA goal is 2,750 vs 2,255 last year. Trade estimates US corn crop rating at 73 pct G/E vs 73 last week and 67 last year. Managed funds have increased net short. CU is making new lows. Some feel USDA could increase US crop 150 mil bu on August 12. This could be added to 25/26 corn carryout.
SOYBEANS
SU ended near 9.75. Brazil Celeres Consultoria est 2026 soybean crop at 177.2 mmt versus 172.8 mmt in the previous season, while soybean exports are forecast at 110 mmmt, up from the previous season’s 106 mmt Like the stock market, soybean futures are trying to bounce off Fridays lows. Sill, fact USDA is expected to increase soybean yield on August 12 suggest rally in futures may be limited. Weekly US soybean exports were 22 mil bu. Season to date exports are 1,757 mil bu vs 1,581 last year. USDA goal is 1,865 mil bu vs 1,700 last year. Trade estimates US soybean crop rating at 70 pct G/E vs 70 last week and 68 last year. Some feel USDA could increase US crop 40 mil bu on August 12. This could be added to 25/26 soybean carryout.
WHEAT
WU ended near 5.16. Global weather is mostly favorable for crops. Weekly US wheat exports were 22 mil bu. Season to date exports are 148 mil bu vs 132 last year. USDA goal is 850 mil bu vs 826 last year. Trade estimates US spring wheat crop rating at 49 pct G/E vs 49 last week and 74 last year. Trade estimates that 88 pct of US winter wheat is harvested vs 80 last week and 88 last year. Trade also estimates that 7 pct of US spring wheat is harvested vs 1 last week and 6 last year.
All charts are provided by The Hightower Report.
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