All Prices as of 2:00 pm Central Time

Corn
MAY ’25	481.75	-0.5
JUL ’25	490	-0.25
DEC ’25	464.5	-1.5

Soybeans
MAY ’25	1029.5	-7
JUL ’25	1041.5	-6.25
NOV ’25	1025.75	-6.75

Chicago Wheat
MAY ’25	538.5	-10.25
JUL ’25	552.25	-10
JUL ’26	623.75	-5.25

K.C. Wheat
MAY ’25	550.75	-6.75
JUL ’25	563.75	-6.25
JUL ’26	633	-4.75

Mpls Wheat
MAY ’25	600	-6.25
JUL ’25	614	-5.25
SEP ’25	628.5	-4.75

S&P 500
JUN ’25	5145.5	-167.25

Crude Oil
JUN ’25	62.58	-1.43

Gold
JUN ’25	3437.5	109.1

Grain Market Highlights

Corn: Heavy selling in the equity markets limited upside for corn Monday; this came despite strong export inspections and a sharply lower U.S. Dollar.
Soybeans: Soybean futures ended lower on Monday, surrendering overnight gains as broad-based weakness across outside markets weighed on the entire grain complex.
Wheat: Wheat futures ended lower on Monday, pressured by weakness in outside markets and beneficial rainfall across the Southern Plains over the weekend, with additional precipitation forecasted this week.
To see the updated U.S. 7-day precipitation forecast and 10-day temperature anomaly forecast as well as the 14-day precipitation forecast for South America scroll down to the other charts/weather 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

2024 Crop:

Plan A: Next cash sale at 546 vs July.
Plan B: No active targets.
Details:
- Sales Recs: Seven sales recommendations made to date, with an average price of 495.50.
- Continue Catching Up: If you haven’t made all seven sales to date, keep taking advantage of up days in the 487 to 512 range vs July to make catch-up sales.
- No Changes: 546 vs July remains the price target to trigger the eighth sales recommendation.

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:
- Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.
- No Changes: Exit targets for December options remain unchanged, and no new sales targets posted today.

2026 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Three sales recommendations have been made to date, with an average price of 460.
- No Changes: Following the recent recommendation to make a third sale, no new sales targets posted today.

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

Market Notes: Corn

Corn futures started the week on a softer note as risk-off sentiment, triggered by heavy selling in the equity markets, limited upside potential. Despite strong demand and a sharp break in the U.S. Dollar Index, corn struggled to find footing throughout the session.
The U.S. Dollar Index continued its downward trend, trading to its lowest level since April 2022. The weaker dollar has helped offset the impact of potential tariffs, kept U.S. corn competitive in the export market, and encouraged fund money flow into the commodity sector.
USDA released weekly export inspections during Monday’s session. For the week ending April 17, U.S. exporters shipped 1.703 MMT (67 mb) of corn. This total was above market analysts’ expectations and remains at a strong pace. Current corn inspections are running 29% over last year and exceed expectations to reach the USDA export target for the current marketing year by approximately 180 mb.
Traders are also awaiting Monday afternoon’s USDA Crop Progress report, with close attention on potential planting delays following recent wet weather across parts of the Corn Belt. However, some regions may surprise to the upside, as planting progress for corn and soybeans had been gaining momentum prior to the rains.
Expectations for South American corn production are also trending higher. Recent late-season rainfall has benefited crops in key areas, with Brazil now potentially on track for a corn crop exceeding 125 MMT. This could create additional pressure on U.S. export demand in the summer months.

Corn Starts April Strong
After spending much of March hovering just above key support at 450, corn futures have surged higher to start April. A friendly April WASDE report—highlighting stronger demand—has helped fuel the rally, with futures pushing through resistance at the 50-day moving average. The next upside target is the February highs just above 500, while near-term support is expected to be near 470, at the upper end of the previous trading range.

Corn Managed Money Funds net position as of Tuesday, April 15. Net position in Green versus price in Red. Money Managers net bought 70,997 contracts between April 8 – April 15, bringing their total position to a net long 124,573 contracts.

Soybeans

Action Plan: Soybeans

Calls

Cash

Puts

2024 Crop:

Plan A: Next cash sale at 1107 vs July.
Plan B: No active targets.
Details:
- Sales Recs: Three sales recommendations made to date, with an average price of 1089.
- No Changes: With three sales recommendations made to date, continue targeting a move to 1107 to make a fourth sale.

2025 Crop:

Plan A: Next cash sales at 1093 & 1114 vs November. Exit all 1100 November call options at 88 cents.
Plan B: Make a cash sale if November closes below 1016.75 support.
Details:
- Sales Recs: One sales recommendation made so far to date, at 1063.50.
- Catch-Up Target: If you didn’t make the one sale, aim for 1063 vs November as your catch-up target. This price level aligns with the Grain Market Insider sale recommendation issued back on January 29.
- New Plan B Target: While Plan A remains to make the next cash sale at 1093 vs November, markets don’t always cooperate. A new downside stop has been posted as a precaution in case the market falls short of that upside target. Key support for the current uptrend sits at 1016.75. A break below that level could signal a trend shift and reduce the odds of reaching the Plan A target. Grain Market Insider prefers to avoid selling on down days, but sometimes conditions call for flexibility.

2026 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Zero sales recommendations made so far to date.
- No Changes: 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

Soybean futures ended lower Monday, giving back overnight gains as widespread bearishness across outside markets pressured the entire grain complex. Equities, the U.S. Dollar, crude oil, and bond markets all traded lower amid tariff uncertainties and reports of tensions between President Trump and Fed Chairman Jerome Powell. Both soybean meal and soybean oil futures also closed weaker.
In March, Chinese soybean imports from the U.S. rose 12% compared to the same period last year; however, this increase occurred before the latest round of tariffs were imposed. Brazil remains the dominant supplier to China’s soybean market.
Today’s export inspections report was once again middle of the road for soybeans where corn and wheat were above expectations. Soybean inspections totaled 20.2 million bushels for the week ending April 17. Total inspections for 24/25 are now at 1.568 bb, up 11% from the previous year.
Friday’s CFTC report showed funds turning bullish on soybeans as of April 15, buying back 76,616 contracts to flip to a new net long position of 26,169 contracts. Funds were also active in the products, purchasing 10,834 contracts of soybean oil and 28,030 contracts of soybean meal.crude oil this week of around 3 dollars a barrel.

Volatile Start to April for Soybeans
Soybean futures dropped sharply in early April following newly announced tariffs, breaking key support near the 1000 level that had held firm through March. However, early April strength has since fueled a rebound, pushing futures back above the pivotal 1000 mark and reclaiming major moving averages—most notably the 200-day, which has capped rallies over the past two years. With momentum rebuilding, the market is now targeting the February highs near 1080, while the 200-day moving average should offer support on any spring pullbacks.

Soybean Managed Money Funds net position as of Tuesday, April 15. Net position in Green versus price in Red. Money Managers net bought 76,616 contracts between April 8 – April 15, bringing their total position to a net long 26,169 contracts.

Wheat

Market Notes: Wheat

Chicago wheat futures led the complex lower on Monday, despite the U.S. Dollar falling to a new near-term low and a positive close in Paris milling wheat futures. Pressure on U.S. wheat was likely tied to beneficial rainfall across the Southern Plains over the weekend, with more precipitation in the forecast. Additional spillover weakness from the equity markets may have weighed on sentiment, as the Dow Jones Industrial Average was down over 1,200 points at midday.
Weekly wheat inspections were pegged at 18.7 mb, which brings total 24/25 inspections to 691 mb, up 14% from last year. This is below the USDA’s estimated pace – they are estimating exports at 820 mb, which would be up 16% from the year prior.
According to IKAR, Russian wheat export values ended last week at $250-$252/mt, which was steady with the week before. Additionally, SovEcon said that Russia exported 450,000 mt of wheat last week versus 470,000 mt the prior week. SovEcon is estimating Russian wheat exports in April will total 2 mmt, which is far below the 5 mmt from April last year.
Chinese customs data indicates that for the month of March, their nation’s wheat and wheat flour imports totaled 190,000 mt – this is down 89.4% year over year for that month. Additionally, year to date imports declined 93% vs last year to just 300,000 mt.

Action Plan: Chicago Wheat

Calls

Cash

Puts

2024 Crop:

Plan A: Target 701 against July for the next sale.
Plan B: No active targets.
Details:
- Sales Recs: Four sales recommendations made to date, with an average price of 690.
- No Changes: 701 is still the price target to trigger a fifth sales recommendation.

2025 Crop:

Plan A: Target 705.50 against July for the next sale.
Plan B: No active targets.
Details:
- Sales Recs: Five sales recommendations made to date, with an average price of 646.
- No Changes: Still targeting 705.50 to trigger the sixth sales recommendation.

2026 Crop:

Plan A: Target 704 against July ‘26 for the next sale
Plan B: No active targets.
Details:
- Sales Recs: One sales recommendation made to date, at 624.
- No Changes: 704 is still the price target to trigger a second sales recommendation.

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

Chicago Wheat – Back to Sideways Trend
After months of sideways movement, Chicago wheat broke higher in February, rallying to early October highs just above 615. However, this mid-month peak quickly turned into a reversal point, with futures sliding back into the trading range that defined late 2024. Currently, support near 530 continues to hold firm. The next major resistance is the 200-day moving average, which now represents a critical test. A decisive weekly close above this level could signal a shift in momentum, potentially marking the beginning of a trend reversal and a return to upside momentum.

Chicago Wheat Managed Money Funds’ net position as of Tuesday, April 15. Net position in Green versus price in Red. Money Managers net bought 5,693 contracts between April 8 – April 15, bringing their total position to a net short 96,439 contracts.

Action Plan: KC Wheat

Calls

Cash

Puts

2024 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Three sales recommendations made to date, with an average price of 677.
- No Changes: Still no active price targets, as the May contract continues to chop around in the 550-580 range.

2025 Crop:

Plan A: Target 677 against July for the next sale.
Plan B: No active targets.
Details:
- Sales Recs: Four sales recommendations made to date, with an average price of 639.
- No Changes: 677 is still the price target to trigger a fifth sales recommendation.

2026 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Zero sales recommendations made so far to date.
- No 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 so far in April 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. Support near the December lows of 540 should act as stout support on any continued decline.

KC Wheat Managed Money Funds’ net position as of Tuesday, April 15. Net position in Green versus price in Red. Money Managers net bought 2,462 contracts between April 8 – April 15, bringing their total position to a net short 47,372 contracts.

Action Plan: Mpls Wheat

Calls

Cash

Puts

2024 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Five sales recommendations made to date, with an average price of 696.
- No Changes: No active targets for a sixth sales recommendation at this time.

2025 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Five sales recommendations made to date, with an average price of 646.
- No Changes: No active targets for a sixth sales recommendation at this time.

2026 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- No 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 Hovers Near Support
Spring wheat broke out of its long-standing sideways range in late January, triggering a surge of bullish momentum. The rally gained further traction in mid-February with a close above the 200-day moving average, but late-month weakness wiped out those gains, pushing futures back below key technical levels. Currently, the 200-day moving average acts as a barrier, limiting any rebound attempts, while support near 580 remains crucial in preventing further downside. To reignite the uptrend, futures would need to make a sustained move above the 200-day, with the next upside target at the February highs near 660. With spring wheat acreage expected to be the lowest in the past 55 years, weather volatility is likely to play a significant role in market movements.

Minneapolis Wheat Managed Money Funds’ net position as of Tuesday, April 15. Net position in Green versus price in Red. Money Managers net bought 7,689 contracts between April 8 – April 15, bringing their total position to a net short 21,155 contracts.

Other Charts / Weather

7-day Precipitation Forecast from ag-wx.com

Courtesy of ag-wx.com

Courtesy of ag-wx.com