“Prices were $.07-$.10 lower across the 3 classes today. July-25 CGO sliced through its 50-day MA and LW’s low. Next support is at $5.26 ¾. Next support for July-25 KC is at $5.23. July-25 MGEX held above support at the 50-day at $6.06 ¾. A day after SovEcon raised their 2025 Russian wheat production forecast 1.8 mmt to 82.8 mmt, today Russia’s Deputy Prime Minister stated they expect this year’s grain harvest to reach 135 mmt, up 4% from YA,” said Mark Soderberg with ADM Investor Services.
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