Written Commentary
UNICA Report Approaches
August 14, 2025
CORN
CU ended near 4.01. CU tested the 20 day moving average. Some look for CZ to test 3.40 as harvest low as long as US Midwest weather remains favorable. Trade will be watching US tariffs especially EU and China closely. USDA est World 24/25 corn crop at 1,225 mmt vs 1,230 ly. World domestic feed use is est at 784 mmt vs 770 last year. Exports are est at 192 mmt vs 192 ly. This leaves end stocks at 284 mmt vs 315 ly. USDA est World 25/26 corn crop at 1,265 mmt. World domestic feed use is est at 801 mmt. Exports are est at 195 mmt. This leaves end stocks at 272 mmt. Weekly US old crop export sales were 643 mt. Total commit is 70.1 mmt vs 55.0 ly. USDA announced 135 mt US 25/26 corn to S Korea, 200 mt US 25/56 corn to unknown and 84 mt US 24/25 corn also to unknown.
SOYBEANS
SU ended near 10.05. China’s soybean meal futures dropped after authorities pledged to rein in hog production and reduce soymeal use in animal feed to stabilize hog prices. Trade will be watching US tariffs especially EU and China closely. USDA est World 24/25 soybean crop at 422 mmt vs 396 ly. World crush is est at 353 mmt vs 331 last year. Exports are est at 180 mmt vs 177 ly. This leaves end stocks at 125 mmt vs 115 ly. USDA est World 25/26 soybean crop at 427 mmt. World crush is est at 367 mmt. Exports are est at 187 mmt. This leaves end stocks at 126 mmt. Weekly US old crop export sales were 160 mt. Total commit is 50.8 mmt vs 45.1 ly.
WHEAT
WU ended near 5.41 in mostly range bound trade. KWU ended near 5.28. MWU ended near 5.85. WU is back below the 20 day moving average. USDA est World 24/25 wheat crop at 808 mmt vs 800 ly. World exports are est at 213 mmt vs 206 ly. This leaves end stocks at 261 mmt vs 263 ly. Weekly US wheat export sales were 762 mt and higher than expected. Total commit is 8.9 mmt vs 8.0 ly.
All charts are provided by The Hightower Report.
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2021 ADM Investor Services International Limited.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.
Latest News & Market Commentary
ADM & Industry News
Global Ag News For Aug 14.2025
August 14, 2025
PPI Inflation Could Complicate Rate Path
August 14, 2025
