Grain Markets and Other Stuff
Grain Markets and Other Stuff
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Soybeans & Corn Rally on Biofuel Rumors + USDA is Probably Overestimating the Corn Crop

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August 22, 2025

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๐ŸŒฝ๐Ÿšœ Grain Market Update: Biofuel Battles, Record Crops & Export Surprises! ๐ŸŒŽ๐Ÿ“ˆ

๐Ÿ”ฅ Big EPA Decision Coming Today

The EPA is expected to rule on 195 small refinery exemption (SRE) requests this afternoon. Traders are buzzing after yesterdayโ€™s rally in corn, soybeans, and soybean oilโ€”many believe someone knows something ahead of the news. A supplemental rule could also drop next week to decide if big refiners must reallocate exempted gallons, a move farm groups strongly support and oil refiners strongly oppose. ๐Ÿ’ฅโš–๏ธ

๐ŸŒฑ Pro Farmer Crop Tour โ€“ Minnesota & Iowa Results

Scouts found record-breaking crops in both states:

๐ŸŒฝ Minnesota corn pegged at 199.6 bpa, smashing the old record & up 23% from last year!

๐ŸŒฑ Minnesota soybeans also set a new all-time pod count record.

๐ŸŒฝ Iowa corn estimated at 198.4 bpa, with soybeans also setting a tour record.

Final national results from the tour are expected today. ๐Ÿ“Š

๐Ÿšข Export Sales โ€“ Big Corn Business

US corn exports were ๐Ÿ”ฅ last week at 2.9 mmt (113 mil bushels), a massive 40% jump from the week prior. Unknown destinations led the charge. Soybean sales were also strong at 1.1 mmt, though China remains absent. Wheat sales lagged, with Mexico as the top buyer.

๐ŸŒฆ๏ธ Drought Monitor Update

Dry weather tightened conditions across the Eastern Corn Belt (Ohio, Kentucky, Indiana, Illinois, Missouri). North Dakota improved, while Kansas & Oklahoma worsened slightly.

Current US drought exposure:

๐ŸŒฝ Corn โ€“ 5%

๐ŸŒฑ Soybeans โ€“ 9%

๐ŸŒพ Winter Wheat โ€“ 31%

๐ŸŒพ Spring Wheat โ€“ 14%

๐Ÿ„ Cattle โ€“ 15%

๐Ÿ›๏ธ USDA News

The USDA plans to close the Beltsville Agricultural Research Center, a move critics warn could disrupt vital research. Meanwhile, NASS, the agency behind crop estimates, faces budget cuts and staffing shortages, raising questions about future reporting accuracy.

๐Ÿ“Š Charts & graphics below for corn, soybeans, soybean oil, exports, and drought!

๐Ÿ‘‰ Donโ€™t forget to like ๐Ÿ‘, subscribe ๐Ÿ””, and drop a comment ๐Ÿ’ฌ with your thoughts on todayโ€™s EPA ruling and crop tour results!

Guests & Subjects Covered

Export SurprisesPro Farmer Crop TourIowa Results ScoutsExport SalesBig Corn Business USDrought Monitor Update DryCurrent USWinter Wheat

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