Written Commentary
UNICA Report Approaches
August 14, 2025
CORN
CU ended near 3.98. CU is now below all key moving averages. Volume has also slowed. Trade est US weekly old crop corn export sales at 60-350 mt vs 97 last week and new crop at 250-800 mt vs 565 last week. USDA est World exports at 192 mmt vs 192 last year. US is 69 mmt vs 57 last year. Brazil exports are est near 43 mmt vs 38 ly. USDA also est 25/26 World exports at 195 mmt. US is 67 with some as low as 61. Brazil is 43 mmt and assumes a crop at 131 mmt. Trade will be watching US tariffs especially EU and China closely.
SOYBEANS
SU ended near 10.05. Soymeal is near 276. BOU is near 56 cents. World soymeal basis levels are lower on too much supply. US farmers remain reluctant sellers of new crop soybeans. SU is now below all key moving averages. Volume has increased over the last few trading days. Some look for SX to test 8.60 as harvest low as long as US Midwest weather remains favorable. Trade est US weekly old crop soybean export sales at 60-350 mt vs 97 last week and new crop at 250-800 mt vs 565 last week. USDA est World exports at 180 mmt vs 177 last year. US is 50 mmt vs 46 last year. Brazil exports are est near 102 mmt vs 104 ly. USDA also est 25/26 World exports at 187 mmt. US is 47 with some as low as 43. Brazil is 112 mmt and assumes a crop at 175 mmt. Trade will be watching US tariffs especially EU and China closely.
WHEAT
WU ended near 5.41 in mostly range bound trade and increase in open interest. KWU ended near 5.23. MWU ended near 5.86. WU is back above the 20 day moving average. Volume has increased over the last few trading days. Weekly US wheat export sales are est at 250-500 mt vs 494 last week. USDA est World wheat exports at 213 mmt vs 206 ly. US is 23 vs 22 ly. Russia is 46 mmt vs 43 ly. EU 32.5 vs 26.5 ly. Canada is 27 mmt vs 27 ly. Australia 23 vs 25.
All charts are provided by The Hightower Report.
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