Daily Dose of Depressing Grain Market News with Joe & Mackenzie

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🔥 FUND MOVES, HEAT WAVES & TRADE TALK! 🌽🌡️📉

Here's what you need to know this week in grains, weather, and global trade! 👇

📊 🧠 Fund Flows:

“The Funds” slightly reduced their net short position in the corn market last week. CFTC data showed:

Net sellers of just 181 corn contracts 📉

Heavy net sellers of 34,000 soybean contracts 😬

Largest soybean short since April 🫘

Sold 13,000 SRW wheat contracts 🌾

➡️ Check the Fund Tracker charts below for a full breakdown!

🌞 🔥 Heat Building in the Corn Belt:

Our friends at CropProphet see above-normal temps on the way:

📅 7-day: +2°F above normal

📅 8–14 day: +3.8°F above normal

🌧️ Slightly below-normal rainfall

➡️ See the maps below! Heat stress could be a factor!

🤝 US-China Trade Talks Back On?

Treasury Sec. Scott Bessent says he’s “optimistic” about a deal ✍️

🇺🇸🇨🇳 Officials met in Stockholm last week

🗓️ Deadline: August 12

👉 But so far, new crop US soybean sales are the worst since 2005... zero Chinese purchases 😳

➡️ Check the export chart below.

🌎 China Buys Argentine Meal Again

China booked another 30,000mt of Argentine soybean meal 🇦🇷

That’s the 3rd deal since June after years of no activity

💰 Why? Cheaper prices thanks to lower Argentine export taxes (from 31% → 24.5%)

➡️ See the soybean meal price trend charts!

🚢 Wheat Export Slowdown

Russia, Ukraine, and the EU — who make up nearly 50% of global wheat exports — are off to a slow start:

Russian exports down 30% YoY 📉

Ukraine shipping just 1/3 of last year’s volume

Spot prices at Black Sea ports +8% in July

📉 All 3 US wheat futures contracts just hit life-of-contract lows

🌽 Flash Sales!

USDA reported two corn flash sales Friday:

352,160mt (14 million bushels) to unknown destinations for 25/26

New crop corn sales now up 54% YoY 🚀

➡️ See the new crop sales chart for details.

📉 Stock Market Slump

Markets tumbled Friday after weak job data:

Dow -1.2%

S&P -1.6%

Nasdaq -2.2%

👎 Only 73,000 jobs added vs. 100k expected

👀 Fed rate cut odds for September just went up

🧨 Trump tariffs also added pressure

👇 Charts, maps, and insights below!

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