All Prices as of 2:00 pm Central Time

Corn
MAY ’25	457.75	-4
JUL ’25	465.25	-3
DEC ’25	448.75	-0.75

Soybeans
MAY ’25	1029.5	-4.75
JUL ’25	1045	-4.25
NOV ’25	1037.25	-2

Chicago Wheat
MAY ’25	539.25	-1.25
JUL ’25	552.75	-1
JUL ’26	623.5	-2

K.C. Wheat
MAY ’25	568.5	3.25
JUL ’25	579.75	3
JUL ’26	642	0

Mpls Wheat
MAY ’25	592.5	-1.5
JUL ’25	608	-2
SEP ’25	622.25	-1.75

S&P 500
JUN ’25	5688.75	14.25

Crude Oil
JUN ’25	71.37	0.63

Gold
JUN ’25	3165.2	19.2

Grain Market Highlights

Corn: Corn futures ended lower as uncertainty around tariffs led traders to reduce risk exposure.
Soybeans: Soybeans closed lower again on Wednesday. The bullish acreage report from Monday has taken a backseat to tariffs as the market awaits further clarity.
Wheat: Wheat futures closed mixed, with Kansas City contracts posting gains while Chicago and Minneapolis futures finished lower.
To see the updated 5-day ECWMF precipitation forecast for the U.S. as well as the 14-day ECWMF precipitation forecast for South America, scroll down the other charts/weather section.

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Corn

Action Plan: Corn

Calls

Cash

Puts

2024 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Recs: Seven sales recommendations made so far to date.
- No Changes Post-Report: The recommendation remains to sit tight yet.

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:
- Recs: Six sales recommendations made so far to date.
- No Changes Post-Report: No updates to active options targets, and no new sales targets have been posted at this time.

2026 Crop:

Plan A: Next cash sale at 456 vs December ‘26.
Plan B: No active targets.
Details:
- Recs: One sales recommendation made so far.
- New Target: A second sale target for the 2026 crop has been activated at 456.

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

Market Notes: Corn

Corn futures ended mixed to mostly lower as selling pressure weighed on the front end of the market. Uncertainty surrounding President Trump’s tariff announcement, set for release after Wednesday’s market close, likely led traders to reduce risk exposure.
The corn market remains on edge over potential retaliatory tariffs from key trading partners, which could add further downside pressure in the coming sessions.
Weekly ethanol production increased week over week to 312.5 million gallons/day, up 2.5 million gallons over last week. A total of 106.5 mb of corn was used last week to produce ethanol. This total was still trending slightly ahead of the pace needed to reach USDA targets for the marketing year.
USDA will release weekly export sales on Thursday morning. Expectations for the week ending March 27, the total of new sales should range between 800,000-1.6 MMT for the week. Last week, new sales totaled 1.083 MMT of corn, within expectations. The USDA hasn’t announced a published corn sale of over 100,000 mt since March 14.
Traders are closely monitoring a strong spring storm moving across the U.S. Corn Belt. Heavy rainfall is forecast for key growing regions in the southern Corn Belt, where saturated soils could raise concerns about planting delays.

Corn Finds Its Footing After Sharp Pullback
After soaring to 16-month highs in late February, corn futures took a steep dive, retreating to test key technical levels. Prices recently found support near 450, aligning with both the 100-day moving average and a critical trendline—potentially marking a short-term low as the market pivots toward spring planting.
A rebound from this level suggests renewed strength, but hurdles remain. Initial resistance looms near the 50-day moving average, while stronger support sits deeper at the 200-day moving average. With the USDA’s March Planting Intentions report now behind us, weather developments in both South America and the U.S., volatility could return swiftly, keeping traders on high alert.

From Barchart – World Corn Export Prices in U.S. Dollars per metric ton. Brazil (Blue), U.S. NOLA (White), Argentina (Red), Ukraine non-GMO (yellow)

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:
- Recs: Three sales recommendations made so far to date.
- No Changes Post-Report: No updates to the active option target or the single sales target at this time.

2025 Crop:

Plan A: Next cash sales at 1093 & 1114 vs November. Exit all 1100 November call options at 88 cents.
Plan B: No active targets.
Details:
- Recs: One sales recommendation made so far to date.
- New Target: Post-report price action activated an additional sales target at 1093 vs November. With one sales recommendation made to date, a move to 1093 would trigger the second, and 1114 would trigger the third.

2026 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Recs: Zero sales recommendations made so far to date.
- No Changes Post-Report: The expectation is still for targets to begin posting in a month or two.

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

Market Notes: Soybeans

Soybeans were lower to end the day ahead of President Trump’s tariff announcement at 3 pm central this afternoon with concerns over retaliatory tariffs from China. Monday’s bullish acreage report seems to be taking a backseat until this announcement is out of the way. Soybean oil has been strong and closed higher, but soybean meal ended the day lower.
Optimism surrounding potential improvements in U.S. biofuel subsidy policy provided support for soybean oil and soybean futures over the past two sessions. Soybean oil futures managed to close higher today despite tariff-related uncertainty, signaling resilience. Additionally, reports suggest the U.S. may offer soybean oil to India at reduced tariff rates.
U.S. soybean crush for February totaled 189 million bushels, slightly above the average trade estimate of 188.7 mb. However, this was still 2.3% below last year’s February total and significantly lower than January’s crush of 212.6 mb.
StoneX has reduced its outlook for the Brazilian soybean crop for 24/25 to 167.5 mmt. This is below the USDA’s last estimate of 169 mmt but would still be 12% larger than last year’s crop. Primary reductions were in the southern region of Rio Grande do Sul with a cut of 6.6% as a result of dryness.

Soybeans Find Support Near 1000
Soybean futures tested the 200-day moving average in early 2025, a stubborn resistance level that has kept rallies in check for 18 months. As March unfolded, favorable weather and harvest pressure from South America triggered a sharp selloff, sending prices tumbling. Despite the decline, support held firm around the psychological 1000 level, with a stronger backing near 950. If the market continues to rebound, initial resistance sits at 1030, but the 200-day moving average remains a formidable hurdle.

From Barchart – World Soybean Export Prices in U.S. Dollars per metric ton. Brazil (Blue), U.S. NOLA (White), Argentina (Red)

Wheat

Market Notes: Wheat

Wheat futures closed mixed, with Kansas City contracts posting gains, while Chicago and Minneapolis futures finished lower. Storms moving across the Midwest may be limiting the upside for soft red winter (SRW) wheat by improving soil moisture, while the southwestern Plains could miss out on much-needed precipitation, lending support to hard red winter (HRW) wheat. Ongoing concerns over tariffs and trade uncertainty likely contributed to the market’s mixed performance.
According to the European Commission, EU soft wheat exports have reached 15.7 mmt as of March 20 since the season began on July 1. This is a 36% drop year over year, as 24.5 mmt of wheat was exported during the same time last year.
The Ukrainian farm producer’s union, UAC, said that wheat exports for April are expected at 1 mmt. This remains high but is down slightly from 1.1 mmt in March. The reason this is considered a high volume is due to the fact that the farm ministry has limited 24/25 wheat exports to 16.2 mmt and 13 mmt have already been shipped this season.

Action Plan: Chicago Wheat

Calls

Cash

Puts

2024 Crop:

Plan A: Target 701 against May for the next sale.
Plan B: No active targets.
Details:
- Recs: Four sales recommendations made so far to date.
- No Changes Post-Report: Post-report price action hasn’t triggered any changes to the current 701 price target.

2025 Crop:

Plan A: Target 705.50 against July for the next sale.
Plan B: No active targets.
Details:
- Recs: Five sales recommendations made so far to date.
- New Target: Post-report price action prompted an adjustment to the prior 714 price target, which has been lowered to 705.50 vs July.

2026 Crop:

Plan A: Target 704 against July ‘26 for the next sale
Plan B: No active targets.
Details:
- Recs: One sales recommendation made so far to date.
- No Changes Post-Report: Post-report price action hasn’t triggered any changes to the current 704 price target.

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

Chicago Wheat Faces Key Test After February Surge
After months of sideways grinding, Chicago wheat broke out in February, rallying to early October highs just above 615. However, that mid-month peak quickly turned into a reversal point, with futures slipping back into the previous trading range that defined late 2024. Support near 540 failed to hold late last week, but prices are attempting a rebound to start April. The next key resistance level is the 200-day moving average, which now serves as a major test. A decisive weekly close above this level could shift momentum, potentially signaling a trend reversal and renewed upside.

Action Plan: KC Wheat

Calls

Cash

Puts

2024 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Recs: Three sales recommendations made so far to date.
- No Changes Post-Report: Post-report price action hasn’t triggered any changes. The recommendation remains to sit tight for now.

2025 Crop:

Plan A: Target 677 against July for the next sale.
Plan B: No active targets.
Details:
- Recs: Five sales recommendations made so far to date.
- No Changes Post-Report: Post-report price action hasn’t triggered any changes to the current 677 price target.

2026 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Recs: Zero sales recommendations made so far to date.
- No Changes Post-Report: Post-report price action hasn’t triggered any changes. The expectation is still for targets to begin posting in the May – June timeframe.

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

Kansas City Wheat Seeks Direction After February Whiplash
February was a wild ride for Kansas City wheat, with prices surging higher before tumbling back down, ultimately finishing the month little changed. March ended with weakness, bringing prices back near recent lows, but holding trendline support remains encouraging. On a rebound, the 200-day moving average is expected to act as initial resistance, with February highs near 640 serving as a more significant barrier.

Action Plan: Mpls Wheat

Calls

Cash

Sell MAY ’25 Cash

Sell SEP ’25 Cash

Puts

2024 Crop:

CONTINUED OPPORTUNITY – Sell another portion of your 2024 HRS crop. This marks the fifth sales recommendation to date and brings the average sales price to 695.
Plan A: No active targets.
Plan B: No active targets.
Details:
- Recs: Four sales recommendations had been made prior to this week. With the current recommendation, this marks the fifth sales recommendation for the 2024 crop.

2025 Crop:

CONTINUED OPPORTUNITY – Sell another portion of your 2025 HRS crop. This marks the fifth sales recommendation to date and brings the average sales price to 646.
Plan A: No active targets.
Plan B: No active targets.
Details:
- Recs: Four sales recommendations had been made prior to this week. With the current recommendation, this marks the fifth sales recommendation for the 2025 crop.

2026 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- No Changes Post-Report: Post-report price action hasn’t triggered any changes. The expectation is still for targets to begin posting in the June – July timeframe.

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

Spring Wheat Struggles to Hold Breakout Amid Volatility
Spring wheat broke out of its long-standing sideways range in late January, sparking a wave of bullish momentum. The rally gained traction in mid-February with a close above the 200-day moving average, but late-month weakness erased those gains, pulling futures back below key technical levels. Now, the 200-day moving average looms as resistance, capping any rebound attempts, while support near 580 remains critical to preventing further downside. To reignite the uptrend, futures would need a sustained move back above the 200-day, with the next upside test at February highs near 660. Until then, the market remains in search of direction amid shifting fundamentals.

From Barchart – World Wheat Export Prices in U.S. Dollars per metric ton. Russia (Blue), U.S. PNW (White), Argentina (Red), Ukraine (Yellow)

Other Charts / Weather

Courtesy of ag-wx.com

Courtesy of ag-wx.com