The Corn Futures bulls (ZCZ25) did not have their best time last week. However, by the end of the week, they were able to stop bleeding and stabilize prices. However, with technical graphics that lean overall and the corn belt of the remaining corn belt, corn bulls have board for them concerning the start of a upward trend in sustainable prices. Friday, the weather forecast for the American corn belt said that time for corn crops did not threaten, although there is net drying in the region in the coming days, especially in the southwest part of the regions.
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It was an interesting season of growth for the harvest of American corn. Although many observers would call it a very good growth season for harvesting to this point, there have been some hiccups recently. Although there are still large expectations of a record yield of American corn this year in the midst of the good condition of the USDA, disease problems were spotted in the corn belt. These problems may or may not turn into more serious issues while maize harvesting continues to mature in the coming weeks. And the advantageous growth time to most of the Midwest could make a face in the last stages of the growth season. These unknowns can be just sufficient to keep the Bears on the corn market, including the great hedge funds, to stack on the short side towards what could possibly be a harvest of American corn.
On the positive side of corn, the demand for American export has been good in recent times. On Friday USDA reported daily sales of American corn from 102,870 metric tonnes (MT) in Mexico and 140,000 Mt in South Korea during the 2025-26 marketing year. Countries starting to finalize trade agreements with the United States before the deadline for transaction on August 1, corn market bulls are looking for export demand to continue to increase in the coming weeks. However, a huge harvesting of Brazilian corn on the market can limit major prices for the corn market in the coming weeks.
Friday with a technically low -low fence in November (ZSX25), put the table for a technical pressure for technical sales monitoring at the beginning of this week.
Soy growth time is also leaning on the price of the price for this week. Storm activity in the United States in Midwest this week will be mainly beneficial for harvest. The hot temperatures will cause rapid drying between rain events, and a mass of fresh air should enter the Midwest on Thursday and Friday.
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Most observers of the soy market agree that August is the most important month of growth for most of the American harvest. So far, this growth season has mostly been very good for American soybean harvest, which maintains the bulls. But the harvest is not yet in the weather conditions of the garbage cans and the midwest can change in August.
Despite the soy weather-prix, the long-term price action was lateral and agitated, which undoubtedly shows that the beans are resilient. In fact, soy bulls can say that nautical time has been taken into account, and that is why prices have been lateral and agitated. This also implies that there is no longer the potential for drop in the soy market.
However, the soybean meal market (ZZ25) remains sick and will have to show a good increase in the coming weeks if soy people want to have the possibility of producing an upward trend in sustained prices. The meal can benefit in the coming weeks from speculative merchants of denigration of long -established long bean oil (ZLZ25) and short meal differences.
Other American commercial offers and better sales of American soybeans exports will be necessary in the coming months so that the soy market can see a significant price assessment. Better American trade relations with China in the coming months are likely to be a solid development on the best sales of soybeans in the United States abroad. In addition, the beginning of autumn will probably see rallies of soybean price limited by the pressure of trade hedges at the start of the harvest of American crops.
The winter wheat term markets continue to fight, but the Bulls have so far successfully defended the solid technical support levels just below the markets, to maintain prices mainly on the side and agitated at lower price levels. However, last Friday, a technically lower weekly fence in December in December, the term contracts on soft red winter wheat gave technical bear a certain momentum before this week.
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The weather conditions in the winter wheat country have so far been mainly favorable to harvest. However, wheat conditions in Canada are a concern with some parts of Canadian meadows that lose certain yield potential due to dry conditions. Some rains have recently dropped to improve parts of Canadian wheat cultivation, but overall production can be lower than average.
The trade pressure of hedges will probably continue to limit the advantage of term contracts on winter wheat in the coming weeks, until the harvest ends.
The trajectory of the US dollar index ($ Dxy) in the coming months will be an important element in the external market for the American wheat markets. The USDX saw a solid rebound in the first half of July but has since sold. If the greenback continues its slide, which has been in place most of this year, American wheat export prices will become more attractive to world trade.
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On the date of publication, Jim Wyckoff had (directly or indirectly) positions in any of the titles mentioned in this article. All information and data of this article are only for information purposes. This article was initially published on Barchart.com
