All Prices as of 2:00 pm Central Time

Corn
MAY ’25	460.25	2.75
JUL ’25	467.25	1.75
DEC ’25	446.75	-0.75

Soybeans
MAY ’25	977	-34.5
JUL ’25	993	-33.25
NOV ’25	984.25	-32.75

Chicago Wheat
MAY ’25	529	-7
JUL ’25	542.75	-7.25
JUL ’26	617	-6.5

K.C. Wheat
MAY ’25	557.5	-11.5
JUL ’25	570	-10.75
JUL ’26	635.75	-8.5

Mpls Wheat
MAY ’25	584.5	-6.75
JUL ’25	599.75	-7.25
SEP ’25	612	-8.75

S&P 500
JUN ’25	5139.25	-293.5

Crude Oil
JUN ’25	61.69	-4.78

Gold
JUN ’25	3043.6	-78.1

Grain Market Highlights

Corn: Corn prices ended the week mixed, with the market showing resilience despite news of China’s new tariffs. While the tariff announcement initially weighed on sentiment, the impact on corn prices was limited, as China’s imports of U.S. corn have remained relatively modest.
Soybeans: News of the new tariffs imposed by China on all U.S. imports caused the soybean market to close sharply lower today, marking the second consecutive day of losses.
Wheat: Wheat prices ultimately ended the day with losses across the board, pressured by the tariff news and a sharp rebound in the U.S. Dollar Index.
To see the updated monthly temperature and precipitation US outlooks from the CPC as well as the 8-10 day precipitation anomaly and 10-15 day average temperature anomaly for South America, scroll down to the other charts/weather 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:
- Sales Recs: Seven sales recommendations made so far to date.
- No New Targets: No new targets to note at this time. The corn market is holding up surprisingly well given how other markets have reacted since ‘Liberation Day’. A positive sign for higher prices ahead? Continue to sit tight for now.

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: Six sales recommendations made so far to date.
- No Changes: No updates to active options targets, and no new sales targets have been posted at this time. Given how well the corn market is holding up, we’re content to continue sitting tight — with only the options exit targets currently active.

2026 Crop:

CONTINUED OPPORTUNITY – Sell a second portion of your 2026 corn crop.
Plan A: No active targets.
Plan B: No active targets.
Details:
- MO: The Grain Market Insider strategy is built on a foundation of early corn sales.
- Target Hit: The move to 456 vs December ’26 triggered the current sales recommendation.
- Sales Recs: Now two sales recommendations made to date.

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

Market Notes: Corn

Despite aggressive selling to close the week, the corn market remained resilient, pushing back against early-session selling pressure as concerns over the potential trade war and tariff impacts weighed on the markets. Corn futures ended the week mixed, with buying strength concentrated in the front end of the market. For the week, May corn futures closed higher, gaining 7 cents.
China announced a counter tariff to the recently announced U.S. tariffs on Wednesday. China will impose a 34% tariff on all U.S. good imported into China. The prospects of the growing trade war sent selling pressure across the market, and limited gains in corn.
The corn market stayed supported by the prospects of a tightening U.S. and global corn supply picture. Currently, U.S. export demand and ethanol usage is running ahead of USDA targets for the marketing year. Market analysts are looking to next week’s USDA WASDE report for an increase in corn demand on the balance sheet which could move corn carryout down from its current 1.540 billion bushel level for the 2024-25 marketing year.
Traders are closely monitoring a powerful spring storm moving through 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 potential planting delays.
As we head into next week, traders will be closely monitoring headlines regarding the ongoing tariff situation and negotiations with other countries. The tariff package announced by President Trump on Wednesday is set to take effect on April 9, leaving a window for potential changes to the plan as tariff negotiations continue.

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:
- Sales Recs: Three sales recommendations made so far to date.
- No Changes: 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:
- Sales Recs: One sales recommendation made so far to date.
- No Changes: 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:
- 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

Soybeans ended the day sharply lower for the second consecutive day after China announced overnight that they would place retaliatory tariffs of 34% on all U.S. imports. Since President Trump announced the tariffs, May soybeans have lost over 50 cents and have been the hardest hit out of the grains. Both soybean meal and oil ended the day lower as well.
In South America, harvest conditions remain cooperative overall, but there have been some excess rains in Argentina have delayed the start of harvest as fields are too wet for tractors. Soybean production is still forecast at 49.0 mmt with yields in the central region better than expected.
Yesterday, 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 again today, which in turn led to a decline in soybean oil prices as well. Crude has lost nearly 10 dollars a barrel over the past two days.
For the week, May soybeans lost 46 cents while November soybeans lost 44-3/4 cents. May soybean meal lost $10.40 to $283.10, and May soybean oil managed to gain 0.68 cents to 45.84 cents.

Soybeans Break on Tariff News
Soybean futures tested their long-standing ceiling at the 200-day moving average in early 2025—a level that has capped rallies for the past 18 months. However, as March progressed, favorable weather and harvest pressure from South America sparked a sharp selloff, dragging prices lower. Despite the drop, the psychologically important 1000 level initially held as support.
That changed in April when newly announced tariffs triggered another leg down, breaking below key support. The next major support is expected near 950, while on any recovery, initial resistance returns at 1000. Above that, the 200-day moving average remains a key technical barrier that the market has struggled to overcome.

Wheat

Market Notes: Wheat

Wheat closed lower across the board as tariff headlines remained the main focus for traders, driving sell-offs in both equity and commodity markets. Additionally, a sharp rebound in the U.S. Dollar Index today contributed to a weaker outlook for the wheat complex.
Some regions of western Kansas saw rains over the past 24 hours, which will offer some relief from drought conditions. However, more will be needed in the long run. The forecast into next week shows warmer and drier conditions for the Southern Plains.
According to the USDA as of April 1, about 37% of U.S. winter wheat acres are experiencing drought conditions, up from just 14% the week before. Additionally, drought in spring wheat areas also jumped during the same time period, from 21% to 39%.
The U.S. ag attaché for China is anticipating higher corn, rice, and wheat production in the 25/26 season. The wheat planted area is expected to remain stable but also show improved yields, leading to a bigger harvest. In related news, China has issued retaliatory tariffs on U.S. ag goods, including 15% on wheat.
Since their season began on July 1, Ukrainian total grain exports have reached 33 mmt, which is down 8.4% year over year. Wheat exports specifically have totaled 13.2 mmt, down close to 7% versus the same timeframe last year.

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:
- Sales Recs: Four sales recommendations made so far to date.
- No Changes: No adjustments to the current strategy — with just one active sales target at 701.

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 so far to date.
- No Changes: No adjustments to the current strategy — with just one active sales target at 705.50.

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 so far to date.
- No Changes: No adjustments to the current strategy — with just one active sales target at 704.

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:
- Sales Recs: Three sales recommendations made so far to date.
- No Changes: No new sales targets have posted yet. The recommendation remains to sit tight as the market continues to search for a base.

2025 Crop:

Plan A: Target 677 against July for the next sale.
Plan B: No active targets.
Details:
- Sales Recs: Five sales recommendations made so far to date.
- No Changes: No adjustments to the current strategy — with just one active sales target at 677.

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: 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:
- Sales 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:
- Sales 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 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

Courtesy of ag-wx.com

Courtesy of ag-wx.com