Consus Ag Consulting AM Market Briefing
Friday, July 11th, 2025
Light pressure is being seen in the market this morning in low volume trade. Most activity this morning is final positioning ahead of the WASDE report that is scheduled to be released at noon ET today. No major changes are forecast to balance sheets, with most interest on corn numbers. US corn commitments are 2 mmt above the current USDA yearly estimate with nearly 2 months left for sales. Unless we see a major surprise in the data, soon after its release we will be back to weather and crop reports for price discovery. Current weather is mostly favorable for the US, but we are seeing more trouble spots, including in Illinois. The IL corn crop rating has declined for 2 straight weeks. If we make that 3 next Monday I would suspect trade shows more interest. The market is also monitoring trade relations, including the announcement the US would be placing a 35% tax on Canadian imports in retaliation to the Canadian tariffs following the initial US tariffs.
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