
Bill Moore
William Moore's market views are centered around his many relationships with Agricultural producers. His weekly newsletter, AGMASTER, provides a blend of fundamental & technical information used to make prudent hedging decisions. Contact Mr. Moore at (312) 264-4337
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AgMaster Report – 07/02/2025
SEPT CORN
Sept Corn has had an 80 cent break (480-400) since the Spring mainly due to very benevolent planting & early growing weather! Recent USDA Reports peg the crop at 15.820BB & 181.0 BPA with planted acreage at 95.203 (ly-90.594)! The crucial pollination is dead ahead thru July! Exports are running 30% over 2024! Monday’s good-excellent rating was up 3 points at 73%! The good news is the US Dollar is making new contract lows – enhancing corn’s export potential along with its already low price – making US Corn very competitive on the global mkt! There is no weather premium in the mkt & much of the bearish weather/tariff news is dialed in!
SEPT BEANS
Sept Beans have traded to the bottom of its 10 wk trading range (1010-1060) off the excellent Midwest growing weather & soft exports due to China’s absence from our mkt! However, Bean Acres are pegged at 83.38MA – nearly 4MA under 2024! And the 4.3 total estimated production 4.34BB & yield 52.5BPA are the same as last year! Much like corn, much of the bad news (benign weather & tariffs) has been baked in & there is no weather premium in the mkt! And the non-China export business is picking up!
SEPT WHT
Sept Wht has stabilized at 2-month lows off a lower US Dollar & global tenders from Jordan & Bangladesh! The June 30 USDA reported 45.47MA (ly-46.08) & higher stocks at 1.008MB (est-971). The Chicago Mkt needs Russia & the EU prices to rally for it to do so!
AUG CAT
The re-opening of the Mexican Border due to screw-worm issues subsiding – led to a sharply lower opening for Aug Cat – more imports! The mkt has been in limbo since topping out in early June & breaking $10 (220-210) – alternating capping rallies with lower demand at the higher levels to the outdoor grilling season providing solid buying at the lower levels of the trading range! This should continue thru Labor Day!
AUG HOGS
The the cash hog index was lower yesterday for the 1st time since May 9 – prompting the 1st correction in the HOG BULL since its inception of its $25 move in early April the large long open interest liquidated a big part of its volume on the break! Still the OUTDOOR GRILLING SEASON is the best demand period of the year & will support Aug Hogs on further breaks! Plus pork has the economic advantage over beef in the supermarket!
Questions? Ask Bill Moore today at 312-264-4337