Midday

All prices as of 10:30 am Central Time

• Corn futures are holding steady at midday as the market weighs the supportive impact of a weakening U.S. Dollar against concerns over trade instability with key U.S. partners.
• Significant rainfall is forecast across Corn Belt regions west of the Mississippi River over the next seven days, while Eastern Corn Belt areas are expected to receive minimal precipitation. A warming trend is also expected, helping to prepare fields for planting.
• The U.S. Dollar Index has dropped sharply to start the week, falling to its lowest level in three years. Meanwhile, gold futures continue to surge, reaching new all-time highs above $3,400 per ounce.

• Soybean futures are trading lower at midday Monday, pressured by U.S. economic concerns, a declining equities market, and persistent technical resistance within the soybean complex.
• July soybean futures spent much of last week consolidating near the 200-day moving average, a historically significant resistance level for front-month soybeans over the past two years. Unless decisively broken, this level is expected to continue capping gains.
• Ahead of Monday afternoon’s Crop Progress report, traders anticipate soybean planting progress to range between 10% and 12%, compared to the historical average pace of 7%.

• Wheat futures are slightly lower across all three classes to start the week, despite continued weakness in the U.S. Dollar.
• Beneficial rainfall fell across much of the Plains over the weekend, with additional moisture expected in the coming days. This should support improvements in crop condition ratings in upcoming weekly progress reports.
• Despite concerns over winter dryness, Russian wheat conditions are reported to be 90% good to satisfactory. Consultancy SovEcon raised its Russian wheat production estimate by 1.1 million metric tons to 79.7 million metric tons.

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. 

The CME and Total Farm Marketing Offices will be Closed Friday, April 18, in Observance of Good Friday

 

All prices as of 10:30 am Central Time

• Corn futures moved higher by midday, driven by weather concerns, as forecasts call for wet conditions across much of the Midwest over the next 10 days to two weeks, potentially causing planting delays.
• US Corn export sales for the week ended April 10th were 61.5 mb for 24/25. Shipments last week were 74 mb and well above the 47.6 mb needed weekly to reach 2.550 bb.
• Total corn commitments are now up 2.228 bb and up 27% over a year ago.
• Earlier this week, the Argentine government devalued the peso in an effort to encourage producers to sell, a move that is expected to place some pressure on the corn markets.
• Showers in Brazil’s southern safrinha corn regions have been disappointing so far, though rain chances are forecast into next week. Meanwhile, the drier conditions have allowed Argentina’s corn harvest to reach 28% completion.

• Soybeans continue to trade lower at midday, heading into the holiday weekend, with additional pressure from escalating tariffs on China and a lack of supportive market fundamentals. Soybeans and soybean meal are posting losses, while soybean oil is experiencing gains.
• U.S. soy exports for the week ending April 10th were 20.4 mb for 24/25 and another 6.7 mb for 25/26. Shipments were 26.5 mb and above the 12.3 mb needed weekly to reach 1.825 bb.
• Soybeans continue to trade lower at midday, heading into the holiday weekend, with additional pressure from escalating tariffs on China and a lack of supportive market fundamentals. U.S. soy exports for the week ending April 10th were 20.4 mb for 24/25 and another 6.7 mb for 25/26. Shipments were 26.5 mb and above the 12.3 mb needed weekly to reach 1.825 bb.Total soy commitments are now 1.719 bb and are up 13% from a year ago.
• Weather-related delays are expected to impact planting across the Southeast Midwest and Eastern Bean Belt, with heavy precipitation forecast from this weekend into next week.
• Tariff negotiations with China remain ongoing; however, the resilience in soybean prices indicate that market participants are pricing in the potential for a trade resolution.

• Wheat futures continue to trade higher at midday, supported by additional fund short covering ahead of the holiday weekend, alongside beneficial rains moving across the U.S.
• U.S. wheat export sales for the week ending April 10th were 2.8 mb for 24/25 and 10.1 mb for 25/26. Shipments of 17.8 mb were below the 21.8 mb needed weekly to reach 820 mb.
• Total wheat commitments are now 787 mb and are up 14% versus a year ago.
• SovEcon this morning raised Russian winter wheat production to 52.2 mt, up from their previous forecast of 50.7. Global wheat production was revised slightly higher as well, up 0.4% to 795.77 mt on higher Australian production.

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. 

The CME and Total Farm Marketing Offices will be Closed Friday, April 18, in Observance of Good Friday

 

All prices as of 10:30 am Central Time

• Corn futures remain firm at midday, supported by upcoming weather systems which could bring heavy rainfalls, further delaying planting progress.
• The EU and Spain have increased corn buying from the US while tariffs are paused. EU corn imports are up nearly 2 mmt from the same time last year, while Spain’s corn imports from the US are at 30-year highs.
• Ukraine’s corn production is estimated to increase 14% from last season to 27.9 mmt according to LSEG. Favorable weather forecasts for April and more corn acres are the reasons for the increase in production this season.

• Soybean prices are continuing to trade higher at midday after China announced overnight that they are ready to talk with the US about the trade war.
• Yesterday’s NOPA crush for the month of March came in at 194.551 mb, down from 196.406 mb in March of 2024, but up from 177.870 mb in February.
• Brazil is reportedly allowing COFCO, which is a China owned company, to build the world’s largest port in Santos. The port is estimated to increase the total export capacity by 10 mmt to 14.5 mmt.
• Anec has raised their Brazil soy export estimate for the month of April from 13.3 mmt to 14.5 mmt.

• Wheat futures are getting a boost at midday on a lower dollar and additional weather threats to the SRW growing areas which have already seen damage.
• The Buenos Aires Grain Exchange reported Argentina could see a record bumper wheat harvest if tax cuts get extended past June. As of now, BAGE is forecasting the second largest wheat output for the country ever.
• The Chicago Board of Trade has declared force majeure on Ohio River terminals due to flooding which has halted wheat loadouts. Additional rain could add further delays to river terminals in Ohio.

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. 

The CME and Total Farm Marketing Offices will be Closed Friday, April 18, in Observance of Good Friday

 

All prices as of 10:30 am Central Time

• Corn futures are losing steam at midday, pressured by chances of rainfall over the next 5 days, which could bring heavy rains in the Southern corn growing areas and disrupt barge operations.
• Yesterday’s Crop Progress report showed corn plantings in the U.S. stand at just 4%, which is 2% behind last year’s pace.
• It’s been reported that Japan is expected to start negotiations with U.S. trade officials this week regarding the ongoing tariff situation.

• Weakness in soybean meal is keeping soybean prices lower at midday. Expected heavy rains across the Southern U.S. this week is also keeping pressure on futures today.
• Monday’s Crop Progress report showed soybean plantings at 2% complete, which is in line with the 5-year average but is just below last year’s pace.
• Brazil could be looking to raise their mandatory biodiesel blend to 15%, up from 14% as world veg oil prices are declining. This would lead to increased domestic usage in South America.

• Wheat remains weaker at midday, pressured by beneficial rainfalls in the key growing parts of the U.S.
• Yesterday’s Crop Progress report showed spring wheat plantings at 7% compared, up 1% from this time last year and in line with the 5-year average. Winter wheat ratings fell 1% from last week to 47% good-to-excellent.
• Pakistan forecasts lower wheat production amid dry weather conditions. Total output is seen at 28.6 mmt compared to 31.8 mmt last year.
• The dollar has fallen to its lowest level since April of 2022, which could offer some support to wheat prices, as other countries’ currencies become stronger. However, the ongoing tariff situation continues to be the main driving force affecting prices.

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. 

All prices as of 10:30 am Central Time

• Corn futures opened the week mixed, with front-month contracts trading slightly lower, while deferred months are seeing upward momentum.
• Favorable planting weather is forecast across much of the Western Corn Belt this week. After Easter, conditions are expected to turn warmer and wetter, continuing into the end of the month.
• Second crop corn in Brazil continues to benefit from mostly favorable conditions over the next two weeks. Recent NDVI imagery shows the crop appearing greener than average, signaling strong overall plant health.

• Soybean futures are starting the week slightly higher, building on the strong finish seen last week.
• While China’s old-crop purchases remain mostly unaffected by trade tensions, concerns are rising over new-crop demand. Late last week, rumors swirled about China booking a large volume of Brazilian soybeans for delivery well into the fall—raising questions about U.S. export competitiveness later this year.
• This week will be shortened to four trading days, with markets closed Friday in observance of the Good Friday holiday.

• Wheat futures are sharply lower to start the week, pressured by forecasts calling for much-needed moisture across the dry Plains states in the coming weeks.
• The selloff comes despite a sharply weaker U.S. dollar, which has dropped to levels not seen since July 2023—typically a supportive factor for U.S. exports.
• Weather in Russia and Ukraine remains a watch point, with forecasts calling for drier and warmer conditions over the next 10 days. These key wheat-producing regions will need to be closely monitored heading into the heart of the growing season.

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. 

All prices as of 10:30 am Central Time

• Corn remains higher at midday, marking its sixth consecutive day of gains, supported in part by the EU’s announcement to pause any tariff countermeasures.
• Drought conditions across U.S. corn-growing regions declined by 11 percentage points, now affecting only 28% of the area.
• Argentine corn harvest was slowed down by the rain and moved to 23% completed. The Buenos Aires Exchange left production unchanged at 49 mmt while the Rosario’s exchange rose their corn production by 4 mmt to 48.5 mmt.
• CONAB raised Brazil’s corn production by 2 mmt to 124.7 mmt, just below USDA’s 126 mmt.

• Soybeans continue to move higher at midday, despite escalating trade tensions between the U.S. and China. Soybean oil and soybean meal are also posting gains midday Friday.
• Rumors persist that China will continue purchasing large volumes of Brazilian soybeans through September, pushing Brazil’s FOB values higher and placing them at a premium of nearly 20 cents per bushel to the U.S.
• The percentage of U.S. soybean-growing areas under drought dropped 11 points over the past week to just 22%, following much-needed rainfall.
• USDA confirms the sale of 121,000 tons of US soybeans for delivery to unknown destinations. 55 tons is for 24/25 and the remaining 66 ton is for 25/26.

• Wheat continues to push higher at midday, managing to overcome some of the bearish pressure from Thursday’s WASDE report.
• Wheat futures are gaining throughout Friday’s session, supported by a weakening U.S. Dollar Index, which has dropped to its lowest level since last September.
• With warm and dry conditions expected in the southwestern Plains, the extended U.S. forecast has led to some fund short-covering early Friday. At the same time, the Southern Plains hard winter wheat regions are facing extreme dryness, which could result in another drop in crop conditions.
• Western Australia’s planted wheat area is expected to decline by 400,000 hectares, or 9%, while warm, dry conditions are forecast to persist in the Black Sea region through the end of April. Meanwhile, ongoing dryness in Eurasian wheat areas is also affecting winter wheat.

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. 

All prices as of 10:30 am Central Time

• Corn prices remain higher at midday, supported by the 90-day tariff pause that went into effect at 12:01am this morning.
• Weekly corn export sales were in line with trade expectations at 40 mb. Year-to-date commitments total 2.166 billion bushels, up 24.5% from last year.
• Conab raises their estimate for Brazil’s total corn crop for the 2024/25 season to 124.74 mmt, up from their last estimate of 122.76 mmt.
• The Rosario Grains Exchange sees Argentina’s corn crop at 48.5 mmt compared to their last forecast of 44.5 mmt.

• Soybeans are firm at midday, getting support from the US pausing tariffs as well as the EU pausing tariffs on US products.
• Weekly soybean export sales totaled 6 mb which was below trade expectations. Year-to-date commitments currently sit at 1.703 billion bushels, up 14% from a year ago.
• Conab has raised Brazil’s 2024/25 soybean crop estimate from 167.37 mmt to 167.87 mmt.

• Wheat prices have backed off at midday, pressured by anticipation that today’s WASDE report will show increases to US and world ending stocks.
• Weekly wheat export sales came in at 8 mb which was in line with expectations. Year-to-date commitments total 784 mb, up 13% from last year.
• IKAR sees Russia’s wheat harvest at 82.5 mmt. They also view Russia’s total grain harvest at 129.5 mmt compared to 126 mmt harvested last year.

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. 

All prices as of 10:30 am Central Time

• Driven by the announcement of retaliatory tariffs from China this morning, corn trade remains mixed by midday.
• Corn exports remain strong, even in the absence of purchases from China. The steady export pace suggests that the USDA may raise its export forecast once again.
• Dr. Cordonnier kept his Brazil and Argentina corn estimates unchanged, noting that the southern half of Brazil’s safrinha crop will begin pollinating in late April to early May, with rainfall being critical during this period.
• Ethanol production dropped to a 10-week low of 300 million gallons, down from 312 million the previous week and 3% lower than the YA. A total of 102 million bushels were used in the production process.

• Soybean futures are trading mixed at midday, holding fairly steady after China’s tariff announcement. China is imposing an 84% retaliatory tariff on U.S. goods. While soybean meal prices are posting gains, soybean oil is experiencing losses.
• The U.S.-China trade war presents significant challenges to the soybean market, as the U.S. is the second-largest soybean exporter and China is the world’s leading soybean importer.
• Strong Chinese demand for Brazilian soybeans has pushed Brazil’s soybean premiums higher, making U.S. soybeans more competitive in the market. Additionally, the U.S. dollar is falling this morning and may be resuming its downward trend.
• USDA confirms the sale of 198,000 tons of U.S. soybeans for delivery to an unknown destination for 24/25.

• Wheat markets trade mixed at midday, influenced by a weakening U.S. dollar and growing weather concerns for the U.S. wheat crop, including cool temperatures, flooding, and dryness.
• Wheat conditions in the U.S. are gradually deteriorating, with the area affected by drought continuing to expand.
• Wheat remains largely unaffected by the tariff conflict with China, as China has made no wheat purchases this year, while Canada and Mexico continue to be exempt from tariffs.
• U.S. wheat remains competitive in global markets, with soft red wheat priced lower than French wheat and hard winter wheat priced below Russian wheat.

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. 

All prices as of 10:30 am Central Time

• Corn prices continue to trend higher at midday, supported by countries showing interest in making tariff agreements.
• Yesterday’s Crop Progress report showed corn plantings in the top 18 states at 2% complete, down 1% from last year, but in line with the 5-year average.
• IMEA said that the Mato Grosso region’s corn harvest could reach 47 mmt, which is up slightly from last month’s forecast of 46.9 mmt.

• Soybeans are building momentum at midday on concerns over a workers strike in Argentina which would affect the countries ports.
• According to AgRural, Brazil’s soybean harvest is 87% complete compared to 78% during the same period last year.
• IMEA pegs the Mato Grosso area’s soybean harvest at 50.3 mmt, up from their previous estimate of 49.6 mmt.
• President Trump has announced he will place another 50% tariff on China if they do not remove their 34% retaliatory tariff.

• Wheat prices remain higher at midday, getting support from a recovering macro market and weather concerns this weekend.
• Yesterday’s Crop Progress report showed HRW conditions at 43% good-to-excellent, down 9% from last year. SRW conditions were seen at 63% good-to-excellent, down 5% from a year ago.
• Agricultural group, Argus, leaves their Ukraine wheat production forecast unchanged from the November estimate at 23.7 mmt.
• SovEcon forecasts a sharp decline in Russia’s wheat exports for March. They estimate exports will be 1.9 mmt, down from 4.8 mmt in March of 2024.

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. 

All prices as of 10:30 am Central Time

• Corn futures are starting the week unchanged to slightly higher, tracking gains in the wheat market and attempting to build on last week’s strong finish.
• Corn has been relatively insulated from the market fallout triggered by the Trump administration’s higher-than-expected tariffs. With Mexico — corn’s largest export destination — exempt from the new measures and China largely absent from recent U.S. corn purchases, the immediate impact on corn trade flows appears limited. This has helped the corn market hold up better than soybeans amid broader trade uncertainty.
• Excessive rainfall leading to flooding along the Ohio River Valley has delayed field work over the last week. The outlook for the next ten days looks promising however with warmer and drier than normal conditions forecast for much of the southern Corn Belt.

• Soybean futures are higher to start the week, clawing back some of last week’s sharp losses despite lingering concerns over tariffs.
• On Friday, China announced it would match the U.S. tariff of 34%, effectively raising the total tariff on U.S. soybeans to 49%. While the impact on old-crop soybeans is expected to be minimal — given that export sales are already at 93% of the USDA’s current estimate — the new-crop export program is likely to take a hit.
• Palm oil prices dropped to a 10-week low on Monday as the market was weighed down by a sharp decline in crude oil prices. The weakness in related vegetable oils added to the pressure — China’s Dalian exchange saw bean oil futures fall nearly 4%, while Dalian palm oil dropped closer to 6%. The selloff reflects broader macroeconomic concerns and waning demand signals across the global veg oil complex.

• Wheat futures are higher to start the week as weather-related uncertainty injects fresh volatility into the market. Concerns over excessive moisture in some regions and deepening drought in others are keeping traders on edge.
• Massive weekend flooding likely caused significant damage to soft red winter (SRW) wheat across the Delta and southern Midwest, as widespread heavy rains stretched from Texas through Arkansas and into the Ohio Valley. The full extent of the impact will become clearer as fields begin to dry and assessments can be made in the coming days.
• The forecast through the end of the month calls for warmer and drier conditions across much of the Southern Plains, which is likely to exacerbate the ongoing drought in hard red winter (HRW) wheat regions. With soil moisture already limited in key areas like western Kansas and the Texas Panhandle, crop stress is expected to increase.
• Wheat appears to be the least impacted grain market amid the ongoing tariff tensions. With Mexico and Canada exempt from the latest round of U.S. tariffs — and China having made no U.S. wheat purchases this year — the export outlook remains relatively stable. Additionally, the recent sharp decline in the U.S. dollar has provided key support, making U.S. wheat more competitive on the global market.

Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.

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