Daily Grain Market Outlook

Grain Express

June 26, 2019

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Corn, Soybeans, Wheat


Corn (December)


Yesterdays Close: December corn futures finished yesterdays session down of a cent, trading in a range of 6 cents. Funds were estimated sellers of 4,000 contracts.


Fundamentals: Not much has changed over the last 24-hours, market participants are still focusing in on Fridays USDA report. Estimates for corn acres are coming in near 86.66 million, down from 89.80 in the June WASDE report. As mentioned several times, these headline numbers may be slightly disappointing and need to be taken with a grain of salt. These numbers are derived from a survey conducted in the first 1-2 weeks of the month, intentions have been fluid and there has likely been a lot of changes since then.


Technicals: Consolidation has been the name of the game, which has....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email


Soybeans (November)


Yesterdays Close: November soybean futures finished yesterdays session down 7 cents, trading in a range of 18 cents. Funds were estimated sellers of 6,000 contracts.


Fundamentals: There has not been a lot of new news on the wires over the last 24 hours, as market participants anxiously await Fridays acreage report. Estimates for soybean acres are coming in near 84.35 million acres, down from the 84.60 we saw in the June WASDE report. As mentioned in previous reports, these headline numbers may be slightly disappointing and need to be taken with a grain of salt. These numbers are derived from a survey conducted in the first 1-2 weeks of the month, intentions have been fluid and there has likely been a lot of changes since then.


Technicals: The market failed against our 3-star resistance pocket yesterday which has brought in....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email


Wheat (September)


Yesterdays Close: September wheat futures finished yesterdays session down 3 cents, trading in a range of 11 cents. Funds were estimated sellers of 3,000 contracts.


Fundamentals: Wheat futures worked lower yesterday, in tandem with broad weakness in the grain complex. Fridays acreage report will be out at 11am cst, all wheat acres are estimated to come in near 45.65 million acres, down from 45.80 in the June WASDE report. We continue to be optimistic on grains as a whole but feel what could be the laggard.


Technicals: 4-star technical resistance held firm yesterday, we had defined that as 549-553. The inability to....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email


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