Joe&#x27;s Premium Subscription: www.standardgrain.com Grain Markets and Other Stuff Links — Apple Podcasts Spotify TikTok YouTube Futures and options trading involves risk of loss and is not suitable for everyone. 🌽 US farmers face a competitive disadvantage as a new NCGA study shows they pay significantly more than Brazilian farmers for corn and soybean inputs like seed, fungicides, and insecticides. NCGA is now pushing for greater price transparency to help level the playing field. 🌾 Grain futures pulled back Wednesday as easing heat forecasts and profit-taking sent corn, soybeans, and wheat lower. Forecasts still call for warm, dry conditions ahead, but the worst of the heat dome is now expected to shift west. 🇨🇳 China booked its largest US soybean purchase since November, buying 472,000mt for 2025/2026 and 2026/2027 delivery. Despite the renewed buying, US soybeans still face a pricing disadvantage due to China&#x27;s added tariff and cheaper Brazilian supplies. 💣 The US resumed military strikes on Iran, hitting 90 targets as President Trump warned of more action and a possible port blockade. Iran has vowed retaliation and threatened to close the Strait of Hormuz, stoking fears over global oil supply. ⛽ US ethanol production slipped last week to 1.09 million barrels per day, with stocks also declining. Corn Belt ethanol margins eased slightly but remain in positive territory.

SHOCK STUDY: US Farmers are being GOUGED (Even Worse Than We Thought) By Input Suppliers 

Grain Markets and Other Stuff

Good morning guys, it's Thursday, July 9th, 523 AM Central Time. Grain Markets are mixed to lower this morning. December corn futures down 5 cents at 451.25. November soybeans down 4.75 at 11.87.5. September Chicago wheat down 2.25 at 6.05.5. September Kansas City wheat down 4 cents at 6.41.25. September spring wheat up a quarter cent at 6.31. We're going to talk about price action in a minute, but we've got to lead off today with this National Corn Growers Study, which has been

and the talk of the town. So according to the study, US farmers consistently paid more than Brazilian farmers for corn and soybean inputs between 2023 and 2025, even after accounting for exchange rates. The largest price gaps were in corn seed, fungicides, herbicides and insecticides. Brazil's wider use of generic products and single active ingredient chemicals helps to keep costs lower while US farmers rely more on more expensive premium products.

NCGA is calling for greater price transparency to help reduce unnecessary costs and improve the competitiveness of US farmers. Mackenzie, prior to reading this study, if I would have told you Brazilian farmers pay less than inputs, would that have been surprising to you? No. No, I don't. And it wasn't surprising to me either. And I don't think that the viewers and listeners are going to be surprised that things are cheaper. It's just the magnitude. The magnitude of the price differences here is pretty shocking to me when I saw the numbers.

So based on the study, which is National Corn Growers and also a company called Kinetic worked on this. So seed corn in the United States is 68% more expensive than it is in Brazil.

SHOCK STUDY: US Farmers are being GOUGED (Even Worse Than We Thought) By Input Suppliers

Read the full transcript

The candid version is on a podcast,
not the earnings call.

SHOCK STUDY: US Farmers are being GOUGED (Even Worse Than We Thought) By Input Suppliers

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.