Corn prices are mixed at midday on recent rainfall across the corn belt and a drier weather forecast for early May, which will rapidly progress planting.
Weekly export sales for corn were in line with expectations at 45 mb. Year-to-date commitments total 2.273 billion bushels, up 26% from last year.
The Office of the United States Trade Representative has reported that there are currently more than 30 trade deals being worked on this week.
Soybean futures continue to trade higher at midday, as many are hoping for China and the US to start negotiation talks amid 30 other countries doing the same.
Weekly soybean export sales totaled 10 mb which were on the low end of trade expectations. Year-to-date commitments are at 1.729 billion bushels, up 13% from a year ago.
Paraguay’s soybean production estimate for 2024/25 was increased by 5% to 10.2 mmt, due to favorable weather conditions.
Wheat prices are seeing pressure at midday due to beneficial rainfall which is seen improving soil and crop conditions.
Weekly export sales for wheat came in at 9 mb, in line with expectations. Year-to-date commitments total 782 mb, which is up 13% from last year.
Egypt’s Supply Minister expects the country to import 4.5 mmt of wheat for the 2025/26 season.
LSEG raised their 2025/26 wheat production forecast for India by 1% to 114.6 mmt.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
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