Tidbits, Wheat Conditions & Exports, Tariffs & Copper 7/9/25
- Wright team
- Jul 9
- 4 min read
Tidbits
The number of predicted rain days for the Corn Belt were up again yesterday morning and most of Western Iowa received ½ to 1½ inches (12-38 mm) of rain yesterday. When it rains in Iowa in July, corn and bean prices will decline. Furthermore, CBOT prices typically decline until 1 to 2 days before a major USDA report and then recover a modest amount the day or two before the report. The July USDA S&D will be issued Friday.
Yesterday morning, the USDA announced the sale of:
97,000 mts of old crop and 47,000 mts of new crop soybean meal to the Philippines
112,776 mts of new crop corn to Mexico
Andrey Sizov reports Russia’s wheat supply may hit a 3-year low even with a larger crop. Why? He said stocks are drying up fast. We are not sure why he says wheat supplies are “drying up fast,” but if he is correct, there will be less wheat for Russia to export. However, also yesterday, Sizov’s Sovecon analytical center reportedly increased its forecast for wheat exports from Russia for this marketing year by 2.1 million, to 42.9 million mts (USDA 45).
Want to read more?
Subscribe to wrightonthemarket.com to keep reading this exclusive post.
