Corn prices remain higher at midday ahead of the March WASDE report which is expected to show slightly lower US and world ending stocks.
China’s Ag Ministry said imports of US corn are set to decline due to the ongoing trade war between the two countries.
Coceral has lowered their EU and UK corn production estimate from 297.8 mmt in December to 296.1 mmt.
Soybeans continue to be firm at midday as no major changes are expected in today’s supply and demand report.
AgRural estimates that Brazil’s soybean harvest has now reached 61%, up from 55% at this time last year.
According to grain and oilseed export group, Capeco, soybean production in the country is expected to drop from a record 11 mmt in 2024 to 9.5 mmt this year.
Wheat prices are softer at midday on expected higher ending stocks in today’s WASDE report.
Weekly wheat ratings showed both Kansas and Texas good-to-excellent conditions dropping by 2% and 6% respectively. Oklahoma improved 11% to 46% good-to-excellent.
Canada’s wheat plantings are seen at 26.9 million acres, slightly up from 26.6 million acres in 2024.
India’s wheat production this year could be a record at 115.43 mmt according to the countries farm ministry.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
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