5-13 End of Day: Grains Mixed as Corn Slides, Wheat Recovers, and Soybeans Continue Higher
All Prices as of 2:00 pm Central Time
| Corn | ||
| JUL ’25 | 442.5 | -5.5 |
| DEC ’25 | 441 | -4.5 |
| DEC ’26 | 459.75 | -1.5 |
| Soybeans | ||
| JUL ’25 | 1072.5 | 1.25 |
| NOV ’25 | 1059.5 | 2 |
| NOV ’26 | 1058.5 | -1 |
| Chicago Wheat | ||
| JUL ’25 | 517.25 | 2 |
| SEP ’25 | 531.75 | 2 |
| JUL ’26 | 591.25 | 2 |
| K.C. Wheat | ||
| JUL ’25 | 511.75 | 3.75 |
| SEP ’25 | 526.25 | 3.5 |
| JUL ’26 | 587.5 | 4.25 |
| Mpls Wheat | ||
| JUL ’25 | 580.75 | -3.25 |
| SEP ’25 | 593.75 | -3.75 |
| SEP ’26 | 654 | -2.25 |
| S&P 500 | ||
| JUN ’25 | 5914 | 49 |
| Crude Oil | ||
| JUL ’25 | 63.25 | 1.69 |
| Gold | ||
| AUG ’25 | 3281.2 | 25.1 |
Grain Market Highlights
- 🌽 Corn: Corn futures extended losses on Tuesday, pressured by favorable weather conditions and a rapid planting pace that spurred additional selling.
- 🌱 Soybeans: Soybeans ended the day modestly higher after a volatile trading session, with follow-through support from yesterday’s friendly WASDE report helping lift prices.
- 🌾 Wheat: Chicago and Kansas City wheat futures rebounded from early losses to finish higher on Tuesday, while Minneapolis wheat futures closed in the red.
- To see the updated 7-day WPC rainfall forecast for the U.S. and the past 30-day precipitation for the U.S. from the 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
2024
No New Action
2025
No New Action
2026
No New Action
Cash
2024
No New Action
2025
No New Action
2026
No New Action
Puts
2024
No New Action
2025
No New Action
2026
No New Action
2024 Crop:
- Plan A: No active targets.
- Plan B: No active targets.
- Details:
- Sales Recs: Eight sales recommendations made to date, with an average price of 494.
- Changes:
- None.
- No upside targets at this time.
- If July regains upward momentum, a Plan B downside sales stop could be added.
2025 Crop:
- Plan A:
- Exit all 510 December calls @ 43-5/8 cents.
- Exit half of the December 420 puts @ 43-3/4 cents.
- Exit one-quarter of the December 420 puts if December closes at 411 or lower.
- Roll-down 510 & 550 December calls if December touches 399.
- Plan B: No active targets.
- Details:
- Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.
- Changes:
- None.
2026 Crop:
- Plan A: Next cash sale at 474 vs December ‘26.
- Plan B: No active targets.
- Details:
- Sales Recs: Three sales recommendations have been made to date, with an average price of 460.
- Changes:
- None.
To date, Grain Market Insider has issued the following corn recommendations:
Market Notes: Corn
- Sellers stayed in control of the corn market on Tuesday as the continued strong planting pace and crop friendly forecast triggered additional selling pressure in the corn market. July futures hit new lows for the move, breaking below December’s support level of $4.37.
- May corn futures expire on Wednesday, May 14, and could continue to influence the old crop side of the corn market with short-term price movement. May futures traded below the March corn settle price and hold a 6 ½ discount to the July futures, which could keep a negative tilt on the old crop corn market as the corn market feels comfortable with front end supplies.
- USDA reported 62% of the U.S. corn crop planted as of May 11, up 22 points from last week. That pace is 15% ahead of last year and 6% above the 5-year average. However, Illinois and Indiana are lagging slightly due to wet conditions in southern areas.
- Conditions remain favorable for planting, with most areas enjoying an open window to complete fieldwork. Looking ahead, next week’s forecast includes beneficial precipitation across key growing regions, offering support for early crop development.
Corn Back Near Calendar Year Lows
Corn futures broke higher in April after repeatedly holding support near 450, with a bullish April WASDE — highlighting stronger demand — fueling the move through the 50-day moving average. As May begins, traders are watching weather developments and demand signals to guide the next leg. February highs above 510 are the next upside target. However, early May weakness has taken out support at 470, setting up a potential retest of the critical 445-450 zone — the early 2025 low and a key technical floor.
Above: Corn percent planted (red) versus the 10-year average (blue) and last year (purple).
Soybeans
Action Plan: Soybeans
Calls
2024
No New Action
2025
No New Action
2026
No New Action
Cash
2024
No New Action
2025
No New Action
2026
No New Action
Puts
2024
No New Action
2025
Active
Enter(Buy) JAN ’26 Puts:
1040 @ ~ 62c
2026
No New Action
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.
- Changes:
- None.
2025 Crop:
- CONTINUED OPPORTUNITY – Buy January ‘26 1040 put options for approximately 62 cents in premium, plus fees and commission.
- Since last summer, soybeans have largely traded within a range of 950 to 1060. If this rangebound price action continues, the first risk would be a move back toward the lower end at 950. Seasonally, May and June are key months to secure downside protection. Adding 1040 put options will provide coverage against lower prices while keeping upside potential open and not having to commit any physical bushels.
- Plan A:
- Next cash sales at 1114 vs November.
- Exit one-third of 1100 call options at 1085 vs November.
- Exit remaining two-thirds of 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.
- Changes:
- None.
2026 Crop:
- Plan A: No active targets.
- Plan B: No active targets.
- Details:
- Sales Recs: Zero sales recommendations made so far to date.
- Changes:
- None.
To date, Grain Market Insider has issued the following soybean recommendations:
Market Notes: Soybeans
- Soybeans ended the day slightly higher after volatile trade that saw the July contract down by nearly 18 cents at one point following yesterday’s bearish Crop Progress report. It seemed that the bullish momentum from yesterday’s WASDE, which anticipated a very small ending stocks number, brought futures higher in the end. Soybean meal was lower, while bean oil followed crude oil higher.
- Yesterday’s Crop Progress report saw soybean plantings at 48% complete, which was higher than the trade guess of 47% and compared to 30% completion a week ago and the 5-year average of 37%. 17% of the crop is emerged, which compared to 7% a week ago and the average of 11%.
- Yesterday’s WASDE report was bullish for soybeans showing lower than expected ending stocks. For 24/25, bean ending stocks are forecast at 350 mb, which was down from 375 mb last month, and 25/26 ending stocks are forecast at just 295 MB, which was below the average trade guess. World ending stocks were also lowered by 2.6 mmt.
- Yesterday, markets jumped early following news that President Trump and Chinese President Xi reached a 90-day tariff truce, rolling back U.S. soybean tariffs to 30% from 145%, with China cutting its tariffs on U.S. goods to 10% from 125%. The announcement sparked rallies in soybeans, hogs, and equities, but some of these gains were given back today.
Soybean Futures Drift Near Upper End of Yearly Range
Soybean futures plunged below the critical 1000 level in early April on tariff news, triggering technical selling after a firm March floor gave way. But the drop was short-lived — strong buying quickly reversed the slide, lifting prices back above 1000 and reclaiming major moving averages. Most notably, the 200-day moving average — long a ceiling — was decisively cleared. With momentum shifting higher, the market is eyeing a retest of February’s highs near 1080, while the 200-day average now serves as a key layer of support on any pullbacks.
Above: Soybeans percent planted (red) versus the 10-year average (blue) and last year (purple).
Wheat
Market Notes: Wheat
- Chicago and Kansas City wheat futures recovered from early weakness to close higher Tuesday, despite lingering pressure from Monday’s bearish WASDE report and improved crop ratings. Support may have come from a notable drop in the U.S. Dollar Index and technical correction from oversold levels. In contrast, Minneapolis spring wheat futures closed lower, weighed down by favorable weather and rapid planting progress in the Northern Plains.
- As of May 11, the USDA has rated the winter wheat crop at 54% good to excellent, up 3% from last week, and above the 50% rating at this time a year ago. An estimated 53% of the crop is headed, 2% below last year, but well above the five-year average of 45%. Furthermore, spring wheat is said to be 66% planted, far beyond 59% last year and 49% average. Emergence is also ahead of schedule at 27%, compared to 23% a year ago and 19% on average.
- Concerns are rising over an outbreak of wheat curl mite, a pest that transmits wheat streak mosaic virus (WSMV). The mite population is reportedly expanding due to persistent drought in parts of the U.S. Plains, posing risks to both winter and spring wheat crops.
- According to the French ag ministry, their nation planted an estimated 4.60 million hectares of soft wheat. This is down from the April estimate of 4.63 million hectares, but if realized it would still be up 9.1% year over year. The declining estimate comes from what is planted in the spring, as the winter crop estimate was unchanged from April at 4.57 million hectares (making up the vast majority of their wheat production).
Action Plan: Chicago Wheat
Calls
2024
No New Action
2025
No New Action
2026
No New Action
Cash
2024
No New Action
2025
No New Action
2026
No New Action
Puts
2024
No New Action
2025
No New Action
2026
No New Action
2024 Crop:
- Plan A:
- Target 699.25 vs 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.
- Changes:
- The 701 target was lowered to 699.25.
2025 Crop:
- Plan A:
- Target 693.75 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.
- Changes:
- None.
2026 Crop:
- Plan A:
- Target 688 vs July ‘26 for the next sale.
- Plan B: No active targets.
- Details:
- Sales Recs: One sales recommendation made to date, at 624.
- Changes:
- The 696 target was lowered to 688.
To date, Grain Market Insider has issued the following Chicago Wheat recommendations:
Chicago Wheat Holds Support
After months of range-bound trade, Chicago wheat futures broke out in February, rallying to October highs just above 615. But the rally was short-lived, with prices quickly retreating back into the 2024 range. Solid support near 530 has held through March and early May, reinforcing its importance. The next key hurdle is the 200-day moving average — a firm weekly close above it could mark a turning point and open the door to a broader uptrend.
Action Plan: KC Wheat
Calls
2024
No New Action
2025
No New Action
2026
No New Action
Cash
2024
No New Action
2025
No New Action
2026
No New Action
Puts
2024
No New Action
2025
No New Action
2026
No New Action
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.
- Changes:
- None.
2025 Crop:
- Plan A: No active targets.
- Plan B: No active targets.
- Details:
- Sales Recs: Four sales recommendations made to date, with an average price of 639.
- Changes:
- The 645 target was cancelled.
2026 Crop:
- Plan A: No active targets.
- Plan B: No active targets.
- Details:
- Sales Recs: Zero sales recommendations made so far to date.
- Changes:
- None.
To date, Grain Market Insider has issued the following KC recommendations:
Kansas City Wheat Searching for Support
Kansas City wheat experienced sharp volatility in February, rallying early before settling flat by month’s end. Persistent weakness through March and April pushed prices toward recent lows — and the market broke below that support to start May. A recovery back above the prior 540 level would signal a potential bottom. On a rebound, the 200-day moving average stands as the first resistance, with a more formidable ceiling at the February highs near 640.
Above: Winter wheat condition percentage good-excellent (red) versus the 5-year average (green) and last year (purple).
Action Plan: Mpls Wheat
Calls
2024
No New Action
2025
No New Action
2026
No New Action
Cash
2024
No New Action
2025
No New Action
2026
No New Action
Puts
2024
No New Action
2025
No New Action
2026
No New Action
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.
- Changes:
- None.
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.
- Changes:
- None.
2026 Crop:
- Plan A: No active targets.
- Plan B: No active targets.
- Details:
- Changes:
- None.
- Changes:
To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:
Spring Wheat Holds Ground Amid Historic Acreage Lows
Spring wheat broke out of its prolonged sideways trend in late January, igniting a wave of bullish momentum. The rally accelerated in mid-February with a close above the 200-day moving average, though late-month weakness briefly pulled futures below key support. Unlike winter wheat, spring wheat has managed to consolidate near multiple moving averages, which are currently holding as support. The next upside target is the February high near 660. With spring wheat acreage expected to be the lowest in 55 years, weather will likely be a key driver of price direction this season.
Above: Spring wheat percent planted (red) versus the 10-year average (blue) and last year (purple).
Other Charts / Weather
