Corn prices continue to struggle at midday amid the proposed tariffs for Mexico and Canada which are scheduled to start on March 4.
AgRural estimates that Brazil’s safrina corn crop is 64% planted, compared to 73% planted at this time last year.
AgroConsult estimates Ukraine’s corn production could reach 30.5 mmt this year, up 17% year-over-year.
Soybean prices remain mostly weaker at midday on beneficial rainfalls slated for Brazil this week which will help to improve crop conditions.
AgRural lowered their forecast for Brazil’s soybean production from 171 mmt to 168.2 mmt.
Brazil has made a push on harvest pace which now stands at 39% complete, compared to 40% done this time last year.
Wheat prices are softer at midday on increasing rainfall chances across the plains states, specifically in Kansas.
The USDA’s state condition report showed Oklahoma winter wheat conditions declining 6% to 34% good-to-excellent. Texas improved 4% to 37% good-to-excellent.
SovEcon estimates Russia’s wheat exports for February could total just 2 mmt which is down from 4.1 mmt from February 2024.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
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