Corn futures are lower to start the week as the next two weeks look mostly dry across the Corn Belt, encouraging rapid planting progress.
Traders expect Monday afternoon’s USDA crop progress report to show corn planting at 41% to 45% complete.
Despite the weaker price action, corn continues to find support from strong demand, which the USDA may need to reflect by raising demand estimates in the May 12th WASDE report.
Soybeans are slightly lower to start the week, with pressure from weaker energy prices and favorable Midwest weather conditions.
OPEC recently announced an increase in crude oil production. Crude oil prices have been declining since the start of the year and are now at $57 per barrel — their lowest level since early 2021.
In Monday’s crop progress report, traders are expecting U.S. soybean planting to be 29% to 33% complete. If current weather forecasts hold, planting could finish at a record-fast pace.
Wheat futures started the week lower, following pressure from declines in corn and soybean futures.
Spring wheat planting is estimated to be 51% to 54% complete as of Sunday.
Winter wheat condition ratings are expected to improve slightly, with more acres rated good to excellent.
Recent rains across the Plains have been beneficial, though additional rainfall forecast for the Southern Plains this week raises flooding concerns, particularly in saturated areas.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures are trading mixed at midday, with increased corn acres and favorable weather, but still drawing support from yesterday’s favorable export report.
The 6–14 day forecast for the Northern Plains and Western Corn Belt shows mostly dry conditions and warmer temperatures, favorable for accelerated planting. Meanwhile, the percentage of corn acreage affected by drought has declined to 20%, down 6 points from last week.
In Argentina, the corn harvest has now reached 31% complete, according to the Buenos Aires Exchange.
Corn markets may face downward pressure ahead, driven by expectations of increased U.S. corn acreage, a large Brazilian crop, and the absence of any major weather-related disruptions in the U.S.
Soybean futures are trading higher at midday, maintaining strong momentum. The market is finding underlying support from a minor overnight breakthrough in U.S.–China trade discussions. While soybeans and soybean meal are posting gains, soybean oil is trading lower.
Overnight, a potential breakthrough emerged as China indicated it is evaluating the need for trade talks with the U.S., following a recent outreach from Washington. However, with China on holiday until May 5th, any formal negotiations are expected to be on hold until then.
U.S. soybeans have recently lost competitiveness in global markets as Brazilian export premiums have dropped sharply.
Recent rainfall has reduced the share of U.S. soybean acreage under drought conditions to 15%, down 6 percentage points from last week and now below last year’s level of 17%.
Soybean oil remains under pressure at midday, weighed down by weakness in both crude oil and palm oil markets.
Wheat futures remain firm at midday, supported by the sharply lower U.S. dollar and a very oversold technical situation.
A significant drop in U.S. wheat prices has made U.S. wheat more competitive on the global market, potentially boosting business for U.S. exporters.
Overnight, South Korean flour millers secured nearly 36,000 metric tons of U.S. mixed wheat.
Early this morning, storms are moving across the Texas Panhandle and much of Oklahoma, with showers also affecting Kansas and Nebraska. Additional soaking rains are expected next week, which should benefit wheat crops currently under drought stress.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures are mostly weaker at midday, pressured by improving favorable weather which will help speed along planting progress.
Weekly corn export sales came in at 50 mb, which was in line with trade expectations. Year-to-date commitments total 2.313 billion bushels which is up 11% from last year.
The Buenos Aires Grain Exchange pegs Argentine’s corn harvest at 31.3% done, up from 29.7% complete last week.
Soybean prices are trending lower at midday, pressured by falling crude oil prices and harvest progressing in South America.
Weekly soybean export sales totaled 18 mb, in line with expectations. Year-to-date commitments sit at 1.742 billion bushels, up 13% from a year ago.
Argentine soybean harvest jumped to 23.6% complete up from 14.5% last week according to The Buenos Aires Grain Exchange.
Soybean oil for use in biofuels dropped to 576 million pounds, down from 654 million pounds in January.
Wheat futures remain firm at midday, supported by increased domestic usage and potential for increased global demand as US prices remain competitive.
Weekly wheat export sales were in line with trade expectations at 12 mb. Year-to-date commitments total 785 mb, up 14% from last year.
Ukraine’s wheat exports during the month of April fell 56% from April of 2024 due to shrinking stocks.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn has turned higher at midday, supported by improved ethanol production figures.
USDA confirms the sale of 120,000 tons of U.S. corn for delivery to unknown destinations for the 24/25 year.
While planting progress in the eastern Corn Belt remains behind schedule, the 2nd week of the extended forecast is now calling for below-normal precipitation, offering an ideal window for farmers to make up lost ground.
Ethanol production rebounded to 306 million gallons, up from 304 million the previous week, and up 5% YOY. There was 104 mb of corn used in the production process.
Ethanol stocks slipped to 25.4 million barrels, slightly below expectations and the lowest in 15 weeks.
Soybeans are trading lower at midday, extending yesterday’s decline as improved weather conditions across the U.S. support continued planting progress and reduce the previously built-in weather premium. The entire soy complex is posting losses at midday.
Weather models are beginning to shift, indicating a drier pattern in the second week of the extended forecast for the eastern Corn Belt. This development is expected to benefit soybean planting, providing an opportunity for states that are currently behind schedule to make significant progress.
Dr. Cordonnier raised his Argentina bean production forecast to 50 mt, up 1 million from last week, and is slightly above the USDA forecast of 49 mt.
Argentine farmer soybean sales are reported at the slowest pace in 11 years, despite a recent export tax cut, as growers remain hesitant amid concerns over potential currency devaluation.
Wheat is trading higher at midday driven by adverse weather in major wheat producing regions outside of the U.S.
Drought conditions have largely subsided in most of Oklahoma and northern Texas, as ongoing heavy rainfall continues to bring significant relief to the region.
Drought risk is diminishing across the Great Plains, with the Week 2 extended forecast calling for significant rainfall in western Kansas and eastern Colorado—two regions that have faced prolonged dryness.
The U.S. attache lowered Australia’s wheat production estimate to 31 mt, down from 34.1 last year due to a smaller harvested area.
LSEG continues to leave their Russian wheat production estimate unchanged at 79.5 mt but said more rain is needed in the region to reach this estimate.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn prices continue to trend lower at midday following planting progress and rain showers across the Midwest.
Yesterday’s Crop Progress report showed corn planting at 24% complete, down 1% from last year, but up 2% from the 5-year average.
The Trump administration is allowing nationwide sales of E15 this Summer via an emergency waiver. This move comes in an effort to cool off prices at the pump and support the agriculture industry.
Soybeans remain weaker at midday following yesterday’s Crop Progress report showing above average planting pace.
Yesterday’s Crop Progress report showed soybean plantings at 18%, up 1% from last year and 6% above the 5-year average.
China’s agriculture ministry has reported that the country’s soybean meal usage for feed consumption could fall to 10% by 2030.
Wheat prices have reversed lower at midday on pressure from the rest of the grain market and rainfall in the Southern Plains.
Winter wheat ratings jumped to 49% good-to-excellent while HRW ratings improved 3% to 41% good-to-excellent. SRW conditions declined 1% to 63% good-excellent due to heavy rainfall. HRS seeding was seen increasing 13% from last week, now at 30% complete
Russia is expected to see a cold snap after a period of seasonally warm weather raising concerns over the size of the country’s crop.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures are under pressure to start the week as forecasts call for an expanded planting window across the Midwest later this week.
Monday’s USDA Crop Progress report is expected to show corn planting between 24% and 26% complete as of Sunday.
In Argentina, the Buenos Aires Grain Exchange reported corn harvest at 30% complete, with steady crop conditions and an unchanged production estimate of 49 million metric tons.
Soybean futures opened the week slightly lower, with soybean meal under pressure while soybean oil held modest gains.
Traders anticipate Monday’s USDA Crop Progress report will show U.S. soybean planting between 18% and 21% complete as of Sunday. Early-week rains are expected to briefly slow planting before warmer, drier weather returns heading into the weekend.
U.S. Agriculture Secretary Rollins suggested that several new trade deals could be announced as early as this week. However, relations with China remain uncertain, with President Trump confirming multiple conversations with President Xi Jinping but no formal trade negotiations yet underway.
Wheat futures opened the week sharply lower, pressured by forecasts calling for continued moisture across the southern Plains over the next two weeks.
Traders are anticipating a 1%–3% improvement in winter wheat good-to-excellent ratings in this afternoon’s USDA Crop Progress report.
Losses in Paris milling wheat futures on Monday added additional outside pressure to the U.S. wheat market.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures turned mixed at midday as traders reacted to growing optimism around trade and speculation that the USDA may raise its corn export projections, given the current strong pace of exports.
Argentina is experiencing favorable weather conditions for its harvest, with progress reaching 30% completion. This week, conditions have improved by 3%, contributing to the overall positive outlook. In Brazil, weather for the safrinha crop has also improved, supporting better growth prospects for the season.
Over the next five days, precipitation is expected to concentrate in the northern Plains, Oklahoma, Texas, and the Eastern Corn Belt. However, the 8-10 day forecast indicates a shift towards below-normal precipitation for most of the Midwest, except for the southwest Plains, which may still receive more consistent rainfall.
Ukraine’s planting pace is 17% behind average due to cold temperatures into early May, which has been limiting process and their export pace so far this marketing year has reached 18.25 mt, down from 22.23 a year ago.
Midday trade saw soybean markets turn mixed, despite earlier session gains driven by possible signs of a resolution between the U.S. and China regarding tariffs and trade.
The Philippines has announced its willingness to purchase more U.S. soybeans, further fueling optimism in the market. The potential for new non-Chinese demand for U.S. soybeans remains a key driving force for the soybean market.
The Buenos Aries Grain Exchange reported soybean conditions in Argentina are up 7% from the prior week to 43% good/excellent and the harvest pace has now reached 14.5%.
Wheat prices are pushing higher at midday for the second consecutive day, following the Paris milling wheat contract’s lead and as the U.S. Dollar stabilizes after its recent decline.
Early today, much-needed rain showers are moving across Oklahoma, Kansas, and Nebraska, providing essential relief and boosting soil moisture for the wheat crop.
An area of concern is the North China Plains, where drought conditions appear to be worsening as China’s wheat crop enters the heading stage.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
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.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures remain under pressure at midday, weighed down by the potential extended U.S. planting window due to ongoing weather conditions, as well as improving crop outlooks in South America.
Beneficial rainfall across key areas of Brazil’s safrinha corn belt prompted Dr. Cordonnier to raise his Brazilian production estimate by 3 MMT to 125 million — still slightly below the USDA’s 126 MMT projection. He also increased his Argentine corn forecast by 1 MMT to 49 million, just under the USDA’s 50 MMT estimate.
U.S. corn remains the cheapest on the global market, but strong export competition is expected to ramp up once Brazil’s safrinha harvest begins in June and July.
Ethanol production rebounded to 304 million gallons, up from 297.5 million the previous week, marking an 8% increase year-over-year. The production process utilized 103.5 million bushels of corn, averaging 14.8 million bushels per day.
Soybeans are trading higher at midday, supported by reports of “friendly” trade talks and tariff negotiations between President Trump and China. Strength is also seen across the soy complex, with soybean meal and soybean oil both posting gains.
China reportedly bought up to 8 cargoes of Brazilian beans yesterday and is set to auction of 624,000 tons of beans from state reserves.
Soybeans are getting a slight lift as producers increasingly discuss the likelihood of shifting even more acreage to corn this season, citing ongoing weather and pricing concerns. The current forecast continues to favor corn planting, potentially trimming soybean acreage further.
The USDA reported that 8% of the U.S. soybean crop was planted as of Sunday, up 2 percentage points from the previous week and ahead of the five-year average of 5%. In the Midwest, Missouri leads with 15% of its crop planted, while Iowa follows at 11%.
Wheat futures are lower at midday across all three classes, pressured by forecasts calling for increased rain chances in the Southern Plains, which could benefit hard red winter wheat conditions.
Wheat is receiving some support as drought conditions persist in the Black Sea region, with China now also experiencing drought in its winter wheat areas, which could further tighten global supply.
As drought conditions in China worsen, there is growing speculation that wheat purchases could be included in the trade deal with the U.S. if China’s domestic wheat conditions do not improve.
Ukraine and Russian wheat production remain critical to global supplies this year. While crop conditions are holding steady, soil moisture deficits persist, and additional rainfall will be crucial to avoid potential production declines.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures are trading lower at midday, pressured by yesterday’s Crop Progress report which showed corn planting in the US at 12% complete, which is ahead of last year’s pace and the 5-year average.
Yesterday’s export inspections for corn were strong, coming in at 1.703 mmt, which compares to 1.661 mmt a year ago. Top destinations were Mexico, Japan, and South Korea.
Precipitation is expected to work its way through the Plains and Western corn belt over the next week limiting drought concerns as Spring planting progresses.
Soybean prices continue to trade higher at midday, following the rebound in the macro market.
Yesterday’s Crop Progress report showed soybean planting in the US at 8% complete, up 1% from a year ago and 3% higher than the 5-year average.
China could soon start to feel the pressure of starting negotiation talks with the US as it is expected that Vietnam, Japan, and India will have trade deals done.
Wheat prices remain lower at midday on faster planting pace and widespread moisture chances over the next week.
Yesterday’s Crop Progress report showed spring wheat plantings at 17% complete, up 10% from last week and 5% from the 5-year average. Winter wheat ratings were seen slipping 2% to 45% good-to-excellent.
SovEcon has raised their Russian wheat export estimate for the month of April from 1.90 mmt to 2.0 mmt.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
