Corn futures opened the week mixed, with front-month contracts trading slightly lower, while deferred months are seeing upward momentum.
Favorable planting weather is forecast across much of the Western Corn Belt this week. After Easter, conditions are expected to turn warmer and wetter, continuing into the end of the month.
Second crop corn in Brazil continues to benefit from mostly favorable conditions over the next two weeks. Recent NDVI imagery shows the crop appearing greener than average, signaling strong overall plant health.
Soybean futures are starting the week slightly higher, building on the strong finish seen last week.
While China’s old-crop purchases remain mostly unaffected by trade tensions, concerns are rising over new-crop demand. Late last week, rumors swirled about China booking a large volume of Brazilian soybeans for delivery well into the fall—raising questions about U.S. export competitiveness later this year.
This week will be shortened to four trading days, with markets closed Friday in observance of the Good Friday holiday.
Wheat futures are sharply lower to start the week, pressured by forecasts calling for much-needed moisture across the dry Plains states in the coming weeks.
The selloff comes despite a sharply weaker U.S. dollar, which has dropped to levels not seen since July 2023—typically a supportive factor for U.S. exports.
Weather in Russia and Ukraine remains a watch point, with forecasts calling for drier and warmer conditions over the next 10 days. These key wheat-producing regions will need to be closely monitored heading into the heart of the growing season.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
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