All Prices as of 2:00 pm Central Time

Corn
MAY ’25	457.5	-0.25
JUL ’25	465.5	0.25
DEC ’25	447.5	-1.25

Soybeans
MAY ’25	1011.5	-18
JUL ’25	1026.25	-18.75
NOV ’25	1017	-20.25

Chicago Wheat
MAY ’25	536	-3.25
JUL ’25	550	-2.75
JUL ’26	623.5	0

K.C. Wheat
MAY ’25	569	0.5
JUL ’25	580.75	1
JUL ’26	644.25	2.25

Mpls Wheat
MAY ’25	591.25	-1.25
JUL ’25	607	-1
SEP ’25	620.75	-1.5

S&P 500
JUN ’25	5478.75	-233.5

Crude Oil
JUN ’25	66.44	-4.79

Gold
JUN ’25	3127.8	-38.4

Grain Market Highlights

Corn: The corn markets closed the trading day mixed, as traders continue to assess the tariff announcements released yesterday afternoon and determine the potential impacts on the market.
Soybeans: Soybeans closed significantly lower today following yesterday’s tariff announcements, as traders expressed concern over the heavy tariffs imposed on China and baseline tariffs placed on other countries.
Wheat: Wheat finished Thursday’s trade mixed, influenced by a drop in the U.S. dollar, as the tariff announcements appeared to have little impact on the wheat markets.
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:
- 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:

NEW ALERT – Sell a second portion of your 2026 corn crop today. This is the second sales recommendation to date.
Plan A: Hit the 456 target vs December ‘26 yesterday.
Plan B: No active targets.
Details:
- Recs: Now two sales recommendations made to date.

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

Market Notes: Corn

Corn futures ended the session mixed to mostly lower. It was a ‘risk-off’ day across the markets as traders digested the potential impacts of President Trump’s tariff announcement made late Monday afternoon. Strong selling pressure in the soybean market, along with negative movement in outside markets, limited the corn market’s potential, despite a supportive export sales report.
The corn futures market “gapped” open on last night’s session on strong selling pressure. As corn prices challenged recent levels of support, value buyers stepped into the market, lifting corn prices off the lows of the session. The firm close brings some optimism to the corn market going into Friday’s trade. May corn is still 4 ¼ cents higher on the week going into Friday.
The strong demand tone lifted corn futures off the session lows on Thursday as the USDA released weekly export sales on Thursday morning. For the week of March 27, U.S. exporters posted new sales of 1.173 MMT (46.2 mb) of corn for the marketing year. This was within expectations, and current corn sales are still trending 24% higher year over year. South Korea was the largest buyer of U.S. corn last week.
Traders are closely monitoring a powerful 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 may raise concerns about potential planting delays.
Following the tariff announcements, the U.S. Dollar Index dropped sharply, reaching its lowest point since October. The weaker dollar should help mitigate some of the impacts of the tariffs, supporting the corn market as the demand outlook remains positive.

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.

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 closed sharply lower to end the day, following the steep tariffs imposed on China and other countries by President Trump yesterday afternoon. China bore the brunt of the tariffs at 34%, while other countries faced a baseline tariff of 10%. Soybeans and soybean oil declined amid concerns of trade retaliation, while soybean meal saw a slight increase.
Export sales were released today but were mostly overshadowed by the tariff news. Soybean sales totaled 15.1 mb for 24/25 and 0.1 mb for 25/26, which was within the average trade estimates. Primary destinations were to China, Taiwan, and Indonesia. Last week’s export shipments of 30.9 mb were above the 13.1 mb needed each week to meet the USDA’s estimates.
Earlier today, OPEC announced they would increase output by 411,000 barrels per day next month, equivalent to three monthly increments. They cited healthy fundamentals and a positive market outlook. This caused crude oil futures to drop by over $5 per barrel, which in turn led to a decline in soybean oil prices as well.
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.

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.

Wheat

Market Notes: Wheat

Chicago and Minneapolis wheat futures closed lower, while Kansas City posted modest gains. Despite the weakness from tariffs, wheat seemed to shrug off the impact to a large extent. The U.S. Dollar Index experienced a significant drop this session, which may have contributed to wheat’s relative strength; as of this writing, the index is down 1.73 at 102.07.
The USDA reported an increase of 12.5 mb of wheat export sales for 24/25 and an increase of 3.5 mb for 25/26. Shipments last week totaled 18.4 mb, but this was below the 22.4 mb pace needed per week to reach their export goal of 835 mb. Total 24/25 sales commitments have reached 780 mb, which is up 13% from last year.
The U.S. ag attaché to India has estimated their 25/26 wheat crop at 115 mmt. If realized, this would be a result of higher planting across 32.6 million hectares, as well as optimal growing conditions. However, this would assume normal weather through harvest.
According to Interfax, the Russian ag ministry is said to have issued the order to distribute the remaining 2025 wheat export quota to 24 companies. The quota, in effect between February 15 and June 30, totals just 10.6 mmt. About 8.6 mmt was already shipped between February and early March.

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.

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.