All Prices as of 2:00 pm Central Time

Corn
MAY ’25	464	8.25
JUL ’25	470.75	7.5
DEC ’25	451	4.25

Soybeans
MAY ’25	1027.25	15.5
JUL ’25	1039.5	14.5
NOV ’25	1020.75	11.25

Chicago Wheat
MAY ’25	554	5.75
JUL ’25	568	6
JUL ’26	627	4

K.C. Wheat
MAY ’25	565.75	8.75
JUL ’25	579.5	8.25
JUL ’26	631.5	6

Mpls Wheat
MAY ’25	594	6
JUL ’25	608	6.25
SEP ’25	620	5.75

S&P 500
JUN ’25	5812.75	-93

Crude Oil
MAY ’25	66.19	0.28

Gold
JUN ’25	2954	-0.4

Grain Market Highlights

Corn: Corn futures closed higher today, as optimistic news surrounding tariff negotiations brought buyers into the corn market.
Soybeans: Soybean prices ended higher for the second consecutive day, following President Trump’s announcement that tariffs on most goods from China would be lifted for the next four weeks.
Wheat: Wheat prices saw an uptick today, driven by positive developments in tariff negotiations between the United States and Mexico.
To see the updated U.S. 7-day precipitation forecast as well as the Brazil and Argentina one-week forecast total precipitation courtesy of the National Weather Service, Climate Prediction Center and NOAA scroll down to the other Charts/Wheat section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

Action Plan: Corn

Calls

Cash

Puts

Enter(Buy) DEC ’25 Puts:

420 @ ~ 21c

2024 Crop:

Guidance Unchanged: No new targets or recommendations to report.
Catch-Up Opportunities: If you missed some or all of the February sales recommendations, watch for a retracement to 480–490 — approximately a 50%-62% recovery from the drop between the February high of 518.75 and today’s low of 442.50.

2025 Crop:

CONTINUED OPPORTUNITY: Grain Market Insider recommends buying December ‘25 420 corn puts for approximately 21 cents, plus commission and fees.
Downside Protection: Put options serve as a valuable hedging tool, protecting against further downside price erosion on bushels that cannot be forward sold before harvest. Combined with the existing call options, this creates a Strangle strategy — a common approach when a significant price move is expected, but the direction remains uncertain.

2026 Crop:

Active Window: The first 2026 upside targets could post at any time — stay tuned for updates!

To date, Grain Market Insider has issued the following corn recommendations:

Market Notes: Corn

Friendly tariff news helped bring buyers into the corn market on Thursday as prices finished with moderately strong gains. It has been a volatile week in the corn market, and the May contract is going into the end of the week still down 5 ½ cents on the week, but 22 cents off the low for the week.
President Trump announced that tariffs that were to be placed on goods from Mexico would be delayed until April 2 as negotiations between the US and Mexico have shown progress. Other tariffs that have been placed on Canada and China will remain intact at this point. The announcement provided buying strength on the session as Mexico is the top importer of U.S. corn.
The USDA released weekly export sales on Thursday morning. For the week ending February 27, U.S. exporters posted new sales of 909,000 MT (35.8 mb) Total export sales are still trending 26% ahead of last year, but that gap has been narrowing in recent weeks and export sales have slowed with higher corn prices and reduced concern for upcoming South American crops. Sales totals are still trending ahead of the pace needed to reach the USDA targets for the marketing year.
The U.S. Dollar Index maintains its downward path, trading lower for the 4th consecutive day. The lower U.S. dollar should help improve the competitiveness of U.S. corn on the global market.
December ‘25 corn futures are struggling to push through the 450 level. The prospects of increased planted acreage and a possible slower demand tone for the second half of the market year are limiting the strength in new crop corn prices.

Corn Rally Pauses
The corn market had been performing well in 2025, with steady demand keeping buyers engaged and driving prices to 16-month highs. Late in February, technical indicators reached overbought levels, and without new positive developments, prices began to pull back. Support for corn should hold near the 450 area. On the other hand, if buyers step back in, the next target would be 535, with more significant resistance at the spring 2023 lows near 550.

Soybeans

Action Plan: Soybeans

Calls

Cash

Puts

2024 Crop:

Guidance Unchanged: No new targets or recommendations to report.
Call Strategy Target: February’s close reinforces 1079.75 as a key resistance level. If the May contract stages a strong reversal and closes above 1079.75, Grain Market Insider would recommend a call option strategy to re-own previous sales recommendations.

2025 Crop:

Guidance Unchanged: No new targets or recommendations to report.
Call Option Target: The target to exit all the 1100 Nov ‘25 call options is approximately 88 cents in premium. If the 1100 calls can be exited for that price, it should cover the cost of the 1180 Nov ‘25 calls, providing a net-neutral cost position that can continue to protect the upside on previous sales recommendation.

2026 Crop:

No Change: No initial recommendations or targets have been posted yet. The strategy may remain quiet for a while longer.

To date, Grain Market Insider has issued the following soybean recommendations:

Market Notes: Soybeans

Soybeans were higher to end the day for the second consecutive day and the May contract has gained 36-1/4 cents since Tuesday’s low. In addition, stochastics now shows a crossover buy signal which could trigger further buying. Both soybean meal and oil ended the day higher as well.
The bullish momentum today came from an announcement from President Trump that he would lift tariffs on most goods from China for 4 weeks due to economic fears from a trade war. While this news is fundamentally more friendly for corn, the market reacted positively for soybeans as well.
Today’s export sales report was on the low end of trade expectations at 13.0 million bushels for 24/25 and 2.0 mb for 25/26. This was below last week’s and last year’s numbers. Export shipments of 29.1 mb were above the 16.8 mb needed each week. Primary destinations were to China, Germany, and Egypt.
Soybean oil exports were supportive today as well and were the largest since the beginning of January at 54,800 metric tons. This report did not include a sale of 60,000 mt of bean oil sales since last Friday, and demand has improved with other veg oils like palm oil at higher prices.

Soybeans Fall on Tariff Worries
Front-month soybean futures continued to test the 200-day moving average in early 2025, a key resistance level that has limited gains for over 18 months. Improved weather conditions in South America and newly announced tariffs from the Trump Administration at the start of March triggered a sharp decline in prices. Support is expected around 1000, with stronger backing near recent lows of 950. If prices rebound, initial resistance is likely at 1030, with the 200-day moving average serving as a more significant hurdle.

Wheat

Market Notes: Wheat

Wheat continued its recovery across all three classes today, with the key headline being President Trump’s announcement that tariffs on certain imports from Mexico would be delayed until early April. This development suggests ongoing cooperation between the U.S. and Mexico, as a recent phone call between the two presidents was described as “constructive”.
The USDA reported an increase of 12.4 mb of wheat export sales for 24/25 as well as an increase of 2.8 mb for 25/26. Shipments last week at 14.0 mb fell under the 20.7 mb pace needed per week to reach their export goal of 850 mb. Total wheat sales commitments for 24/25 are up 10% from last year at 746 mb.
The U.S. Dollar Index declined early in the day but rebounded by the time the grain markets closed, finishing only slightly negative. The renewed strength in the dollar may help explain why wheat ended the day 10-12 cents off its daily highs.
According to the USDA as of March 4, an estimated 24% of U.S. winter wheat acres are experiencing drought conditions. This is up 2% from the week prior and well above 15% last year. The amount of spring wheat area in drought was held steady with last week, however, at 39%.
HB4 wheat, developed by Bioceres Crop Solutions Corporation, is said to have received approval in the U.S. for one of four patents. This bio-engineered variety of wheat is bred to be more tolerant of drought and also allow for better weed management. Furthermore, the technology was already approved by the USDA for farming and by the FDA for feed and food usage.

Action Plan: Chicago Wheat

Calls

Cash

Puts

2024 Crop:

Guidance Unchanged: No new targets or recommendations to report.

2025 Crop:

Guidance Unchanged: No new targets or recommendations to report.
Maintain Put Options: Continue holding the final quarter of July ’25 620 put options.

2026 Crop:

No Change: The next target range for a sale on the 2026 crop remains 700–720 vs July ‘26.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Head Fake
Chicago wheat broke out of its prolonged sideways trend with a strong February rally, reaching key resistance at the early October highs just above 615. However, since the late February peak, wheat futures have retreated sharply, falling back into the previous trading range that marked the end of 2024. Support is expected near the lower boundary of this range around 540, while the 200-day moving average is likely to act as resistance on any attempted rebound.

Action Plan: KC Wheat

Calls

Cash

Puts

2024 Crop:

Guidance Unchanged: No new targets or recommendations to report.

2025 Crop:

Guidance Unchanged: No new targets or recommendations to report.
Maintain Put Options: Continue holding the final quarter of July ’25 620 put options.

2026 Crop:

Hold: No first sales targets or recommendations are expected until the late May, early June window.

To date, Grain Market Insider has issued the following KC recommendations:

KC Wheat Breaks Lower
Kansas City wheat futures surged into February with strong bullish momentum, closing above the 200-day moving average and testing multi-month highs near 620. However, since the late February peak, wheat futures have retreated sharply, falling back into the previous trading range. Support is expected near the lower boundary of this range around 540, while the 200-day moving average is likely to act as resistance on any attempted rally.

Action Plan: Mpls Wheat

Calls

Cash

Puts

2024 Crop:

Upside Target: Looking for a retracement back to 625 vs May to recommend another sale.

2025 Crop:

Upside Target: Looking for a retracement back to 647.75 vs September to recommend another sale.
Maintain Put Options: Continue to hold the last quarter of July ‘25 KC 620 put options.

2026 Crop:

No Change: No first sales recommendations are expected until early summer.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

February Whipsaw
Spring wheat broke out of its prolonged sideways range in late January, signaling bullish momentum. A mid-February close above the 200-day moving average reinforced the breakout, but late February weakness erased those gains, sending futures back below key moving averages. Moving forward, the 200-day MA is likely to serve as upside resistance, while previous lows near 580 should provide support.

Other Charts / Weather

Above: US 7-day precipitation forecast courtesy of NOAA, Weather Prediction Center.

Above: Brazil and Argentina one-week forecast total precipitation courtesy of the National Weather Service, Climate Prediction Center.