The latest U.S. WASDE report for the 2025/26 marketing year reveals that corn ending stocks stand at 1.66 billion bushels, below the expected 1.733 billion and last month's 1.75 billion. Soybean ending stocks are reported at 310 million bushels, higher than the estimated 295 million and last month's figure. Wheat ending stocks are slightly under expectations at 890 million bushels compared to 898 million. Export projections show wheat at 0.85 billion bushels, corn steady at 2.675 billion bushels, and soybeans slightly lower at 1.745 billion bushels versus 1.815 billion previously. Crop progress as of July 14, 2025, indicates corn silking at 34%, dough stage at 7%, and good-to-excellent (GE) condition steady at 74%. Soybeans are blooming at 47%, setting pods at 15%, with GE conditions improving to 70%. Cotton progress shows squaring at 61%, setting bolls at 23%, and GE at 54%. Winter wheat is in harvest. Market volatility for soybeans ranges between 13.6% and 15.5%, corn at 18.4%, and wheat at 23.5%. Recent trading activity includes call and put options on soybeans, reflecting active positioning in the futures market.