All Prices as of 2:00 pm Central Time

Corn
MAY ’25	465.25	4.5
JUL ’25	472.25	4.75
DEC ’25	452.25	4

Soybeans
MAY ’25	1010.75	10.25
JUL ’25	1025	9.5
NOV ’25	1011.75	5.25

Chicago Wheat
MAY ’25	562.5	8.5
JUL ’25	578.25	8.75
JUL ’26	641.25	5.75

K.C. Wheat
MAY ’25	587.5	14.5
JUL ’25	600.75	14
JUL ’26	652.75	12.5

Mpls Wheat
MAY ’25	603.75	9.25
JUL ’25	617.75	9.5
SEP ’25	630	10.5

S&P 500
JUN ’25	5604.25	-52.25

Crude Oil
MAY ’25	66.29	-1.09

Gold
JUN ’25	3021.8	47

Grain Market Highlights

Corn: The corn market found support today from the strong buying activity in the soybean and wheat markets, ultimately finishing the day with gains.
Soybeans: The soybean market closed higher, driven by gains in soybean meal, as strikes at Argentine soy crushing plants continue to impact the market, further supported by stronger-than-expected export sales.
Wheat: Wheat closed the trading day in the green, with ongoing weather concerns in the U.S. Southern Plains providing continued support for prices.
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.

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Corn

Action Plan: Corn

Calls

Cash

Sell DEC ’26 Cash

Puts

2024 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Since last summer, seven official sales recommendations have been made at an average price of 495.50. If you are behind, target 480 vs May as a first spot to begin catching up.
- Grain Market Insider has not yet set an official price target for an eighth sale but remains satisfied with the sales recommendations made to date. The Prospective Plantings and Grain Stocks reports, scheduled for release on March 31, are approaching quickly. Given the high volatility typically seen on report day, Grain Market Insider is likely to hold off on any new recommendations until after the report — unless market conditions shift significantly.

2025 Crop:

Plan A: Exit all 510 December calls @ 43-5/8 cents. Exit half of the December 420 puts @ 43-3/4 cents.
Plan B: No active targets.
Details:
- Since last spring, six sales recommendations have been made for the 2025 crop at an average price of 460.75. If you are behind, target 462 vs December as a first spot to begin catching up.
- Grain Market Insider feels confident about the overall strategy heading into the volatile March 31 reports and into spring/summer. There are the six sales recommendations on the books at an average price of 460.75. Additionally, 510 and 550 call options are in place to capture upside potential if the highs are not in. On the downside, 420 put options cover unsold bushels, providing protection against lower prices. This balanced strategy allows flexibility to adjust as the market moves in either direction.

2026 Crop:

NEW ACTION – Sell the first portion of your 2026 corn crop today.
Close: The December ‘26 contract closed at 455.25 today.
Details: Early sales can be impactful in years when prices trend sideways or lower. For last year’s 2024 corn crop, the sales recommendations made in 2023 at 497.75 and 507.50 ended up outperforming anything offered after January 1, 2024, for bushels that had to be sold at harvest. While this won’t be the case every year, history shows that sideways or lower years tend to outnumber higher years. Consistently applying early sales strategies year after year can provide long-term benefits.

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

Market Notes: Corn

Strong buying in the wheat and soybean markets, coupled with a firm export tone, helped support corn futures during Thursday’s session. Overall, prices consolidated, trading within the range established during Wednesday’s price action.
The USDA released weekly export sales on Thursday morning. For the week ending March 6, US exporter posted new sales of 967,300 MT (38.1 mb) for the current marketing year. This was up 6% from last week, but down 19% from the prior 4-week average. Mexico was the top buyer of US corn for that week.
The Rosario Grain Exchange cut its Argentine corn crop estimates to 44.4 MMT, down 1.5 MMT due to impacts from heat and dryness seen during the early part of the growing season.
Brazil’s ag agency CNAB raised their corn production forecasts slightly higher in their March production report on Thursday. The crop was raised to 122.76 MMT, up from 122.02 MMT in February. Within in the report, CONAB did slightly lower the exportable second crop corn slightly, as the production increase was from Brazil’s first corn crop. Project corn ending stocks were 5.54 MMT for the 2024-25 marketing year, up 2.49 MMT over last year.

Corn Finds Support Near 450
After hitting 16-month highs in late February, corn prices pulled back sharply to test the 100-day moving average and trendline support near 450. This rebound suggests a potential short-term low that can be built off as we head towards spring. Initial resistance is expected near the 50-day moving average, while key support remains at 450, with stronger support at the 200-day moving average.

Soybeans

Action Plan: Soybeans

Calls

Cash

Puts

2024 Crop:

Plan A: Next cash sale at 1107 vs May. Buy calls with a close over 1079.75 vs May.
Plan B: No active targets.
Details:
- Since last spring, three official sales recommendations have been made at an average price of 1089. If you’re behind, consider targeting 1056 vs May as a good starting point to begin catching up.
- The official target for a fourth sale is 1107 vs May. Since soybeans tend to have later seasonal pricing opportunities than corn, the plan is to aim for an aggressive target for now.
- A close above the February high resistance of 1079.75 would trigger a recommendation to re-own the three prior sales with August call options.

2025 Crop:

Plan A: Next cash sale at 1114 vs November. Exit all 1100 November call options at 88 cents.
Plan B: No active targets.
Details:
- There has been one official sales rec on 2025 soybeans to date. If you’re behind, consider targeting 1040 vs November to catch up.
- If the 1100 November calls can be exited for 88 cents, that should cover the cost of the 1180 calls, providing a net-neutral cost position that can continue to protect the upside on the 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 giving back nearly all of yesterday’s losses. Soybean meal led the complex higher following strikes at Argentinian soy crushing plants. Export sales were better than expected, which was supportive, but soybean oil followed crude oil lower.
Today’s export sales were good for soybeans with sales coming in above expectations at 967,300 mt of old crop and 13,400 mt of new. This put sales ahead of last year at this time by 14%. Soybean oil sales were withing trade expectations while soybean meal sales were below expectations.
Arguably the biggest bullish news today was the start of worker strikes at Argentine soy crushing plants. The oilseed workers’ union initiated the strike over layoffs and in protest against the actions of national security forces. This news sparked a strong rally in soybean meal, as Argentina is the world’s top exporter of soybean meal.
In South America, Argentina is forecast to receive late rains that should be beneficial to both the soybean and corn crops. The Rosario Grain Exchange has forecasted soybean production at 46.5 mmt, along the same lines as the USDA. Early heat and drought damaged the crop.

Soybeans Find Support Near 1000
Soybean futures tested the 200-day moving average in early 2025, a key resistance level that has capped gains for 18 months. As March began, improved weather and harvest pressure in South America caused a sharp price decline. Support held around the 1000 level, with stronger support near 950. If prices continue to rebound, initial resistance is at 1030, with the 200-day moving average remaining a critical barrier.

Wheat

Market Notes: Wheat

Wheat closed in the green, led by Kansas City futures, with continued concerns over warm temperatures and high winds in the U.S. Southern Plains for the remainder of the week providing support to HRW prices.
Weekly wheat export sales totaled 28.8 mb for 24/25 along with 3.0 mb for 25/26. Shipments last week at 8.2 mb were under the 20.3 mb pace needed per week to reach the USDA’s export goal of 835 mb. Total wheat sales commitments have reached 775 mb, up 14% from last year.
According to the USDA, as of March 11, an estimated 27% of U.S. winter wheat acres are experiencing drought conditions, marking a 3% increase from the previous week. Spring wheat areas in drought remained steady at 39%, although this is 9% higher compared to the same time last year.
Although a ceasefire agreement has been drafted between the U.S. and Ukraine, Russia has yet to concur. News outlets this afternoon report that Putin has stated he agrees ‘in principle’ to a 30-day ceasefire, though the specifics still need to be worked out.
IKAR has issued a new estimate of Russian wheat exports, lowering it again, this time by 1.5 mmt to 41 mmt. The USDA is sitting at a 45 mmt estimate. In related news, Ukrainian wheat 24/25 wheat exports have hit 12.4 mmt since the season began in July – this is up 3% year over year.
According to FranceAgriMer, the expected French 24/25 soft wheat exports are now estimated at 9.58 mmt. This is down 1.7% from the February guess of 9.74 mmt and is said to be due to a 6% decline in non-EU sales. Additionally, the stockpiles estimate increased from 2.81 to 2.91 mmt.

Action Plan: Chicago Wheat

Calls

Cash

Puts

2024 Crop:

Plan A: Target 701 vs May to make the next sale.
Plan B: Just a heads-up — if the stars align, so to speak, across the market indicators that Grain Market Insider monitors, we might issue a sales recommendation prior to reaching that 701 level.

2025 Crop:

Plan A: Target 714 vs July ‘25 to make the next sale.
Plan B: Just a heads-up — if the stars align, so to speak, across the market indicators that Grain Market Insider monitors, we might issue a sales recommendation prior to reaching that 714 level.

2026 Crop:

Plan A: Target 704 vs July ‘26 to make the next sale.
Plan B: Just a heads-up — if the stars align, so to speak, across the market indicators that Grain Market Insider monitors, we might issue a sales recommendation prior to reaching that 704 level.

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

Chicago Wheat’s Volatile Breakout and Retreat
Chicago wheat broke out of its prolonged sideways trend with a strong February rally, surging to key resistance at the early October highs just above 615. However, the late February peak proved to be a turning point, as futures retreated sharply, slipping back into the previous trading range that defined the end of 2024. Support has so far held near 540, the lower boundary of this range, while the 200-day moving average looms as a key resistance level near 570. A decisive weekly close above the 200-day could signal a potential trend reversal and renewed upside momentum.

Action Plan: KC Wheat

Calls

Cash

Puts

2024 Crop:

Plan A: Target 717 vs May to make the next sale.
Plan B: Just a heads-up — if the stars align, so to speak, across the market indicators that Grain Market Insider monitors, we might issue a sales recommendation prior to reaching that 717 level.

2025 Crop:

Plan A: Target 677 vs July ’25 to make the next sale.
Plan B: Just a heads-up — if the stars align, so to speak, across the market indicators that Grain Market Insider monitors, we might issue a sales recommendation prior to reaching that 677 level.

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:

Kansas City Wheat Faces Key Technical Test
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, the rally lost steam in late February, leading to a sharp retreat back into the previous trading range. Support has held firm near 540, the lower boundary of this range, while the 200-day moving average is expected to serve as resistance on any attempted rebound. A decisive close above key resistance will be crucial for reigniting the uptrend as the market heads into spring.

Action Plan: Mpls Wheat

Calls

Cash

Puts

2024 Crop:

Plan A: Target 625 vs May to make the next sale.
Plan B: Just a heads-up — if the stars align, so to speak, across the market indicators that Grain Market Insider monitors, we might issue a sales recommendation prior to reaching that 625 level.

2025 Crop:

Plan A: Target 647.75 vs September to make the next sale.
Plan B: Just a heads-up — if the stars align, so to speak, across the market indicators that Grain Market Insider monitors, we might issue a sales recommendation prior to reaching that 647.75 level.

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:

Spring Wheat Struggles to Hold Breakout
Spring wheat broke out of its prolonged sideways range in late January, sparking bullish momentum. A mid-February close above the 200-day moving average reinforced the breakout, but late February weakness erased those gains, dragging futures back below key moving averages. Looking ahead, the 200-day moving average is expected to act as resistance on any rebound, while previous lows near 580 should provide a key support level. A sustained move above resistance would be needed to reignite the uptrend.

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.