Corn futures are trading lower at midday, facing mild pressure following China’s announcement of retaliatory tariffs. The tariffs, while notable, have a relatively minor impact on U.S. corn prices. This is largely due to China’s imports of U.S. corn have been modest, as the country has been increasing its domestic corn production.
The tariff announcement this past Wednesday continues to affect the market, although the direct impact on corn remains limited for the time being. This is due to Mexico, a key trade partner, being exempt from the tariffs under the USMCA agreement.
The Buenos Aries Grain Exchange pegged Argentine’s crop conditions at 33% good/excellent, up 6% on the week although they did mention concerns of upcoming frosts in the center-west and southern areas over the next week. The corn harvest in Argentina is currently 20% completed.
The US corn area under drought stands at 39% but that number is shrinking as precipitation continues across the eastern and southern Midwest.
Soybeans continue to trend lower at midday across the entire soy complex, pressured by China’s announcement of tariff retaliation. This has caused May beans to drop to their lowest level since Christmas Eve, amid significant outside market pressure.
China announced at 5 am today that they will now charge a 34% tariff on all US goods starting April 10th to match President Trump’s reciprocal tariff.
China was the top buyer of US soybeans again last week, but the new 35% level will certainly end any China demand for US beans.
The US soybean area that is under drought stands at 33% but expected soil moisture replenishment is expected to continue across the eastern and southeastern bean belt.
The Buenos Aires Grain Exchange reported that wet weather has delayed the start of Argentina’s harvest, though dry conditions are expected in the near future.
Wheat prices are moving lower at midday across the entire wheat complex, as beneficial precipitation moved through the Texas Panhandle and Oklahoma overnight, with more expected over the next couple of days. This is providing relief to the drier areas.
US winter wheat under drought stands at 37% but is expected to see improvement this week with the beneficial rains.
Ukraine’s wheat exports for the marketing year so far stand at 13.2 million tons, down 7% year over year.
French SRW conditions rose 2% last week to 76% good to excellent.
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 getting some support from the wheat market at midday as prices start to turn higher. Flooding concerns across the southern half of the Midwest and the Delta could slow planting progress down, which will be viewed as supportive for prices as well.
Weekly corn exports were in line with trade expectations at 53 mb. Year-to-date commitments total 2.135 billion bushels, up 24% from last year.
Sweeping tariffs turned the corn market bearish overnight but concerns have been limited as Mexico and Canada will still receive exemptions due to the USMCA agreement.
Soybeans remain weaker at midday after yesterday’s newly added tariffs which brings concerns over China’s import business from the US. The new levy is now up to 54% for Chinese imports which could certainly sideline business from the country for the foreseeable future.
Weekly soybean exports came in at 15 mb, which was on the low end of expectations. Year-to-date commitments total 1.696 billion bushels, up 14% from a year ago.
The USDA Attache in Mexico reported that increased demand for meal and oil could raise Mexico’s soybean imports from the US by 1%.
Wheat prices have erased double-digit losses from this morning, now trading unchanged or slightly higher at midday, supported by the dollar falling.
Weekly wheat exports totaled 16 mb, which was in line with trade expectations. Year-to-date commitments sit at 780 mb, which is up 13% from last year.
The USDA Attache in India says that total wheat production in the country for the 25/26 season could reach a record 115 mmt.
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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 markets continue to decline as traders brace for the announcement of new tariffs expected during this afternoon’s tariff ceremony.
Traders remain concerned over the ongoing uncertainty surrounding a trade deal with Mexico, the U.S.’s largest corn buyer. Should a last-minute agreement be reached between the U.S. and Mexico today, it could provide a quick boost to the corn market.
A highly active weather pattern is expected to persist through the weekend across the central, eastern, and particularly the southeastern Corn Belt, where heavy rainfall is anticipated. While this could cause significant delays in spring fieldwork and early planting, the increased soil moisture is currently seen as a more critical factor.
StoneX updated their 1st crop corn production in Brazil to 25.9 mt, down from last month of 26.53 mt and 2nd crop Safrinha was lowered to 101.62mt, down from 102.13 last month.
Ethanol production rebounded to 312.5 million gallons, up from 310 million the previous week, however this is down 1% from the YA.
Soybean prices continue to show weakness at midday as traders await the tariff announcement President Trump is expected to make today at 3 p.m. Central Time. Concerns persist, as some countries adopt a hardline stance, while others, such as Israel and Vietnam, are easing tariffs on U.S. goods. As a result, soybean and soybean meal prices continue to decline, while soybean oil sees modest gains.
StoneX updated their Brazil production of soybeans to 167.54 mt, down from their previous estimate of 168.34 last month and compared to the USDA of 169.
USDA confirms the sale of 135,000 tons of U.S. soybean meal for delivery to the Philippines in 24/25.
Early soybean planting in the U.S. is expected to be delayed as heavy rains are forecasted through the weekend in Arkansas, Kentucky, and the southern regions of Illinois and Indiana.
Wheat prices are trading mixed at midday with an improved weather outlook for the southern Plains, where soil moisture is expected to improve through the weekend. Traders continue to watch carefully as market pressure persists due to uncertainty surrounding the upcoming tariff announcement and the forecast for drier weather afterward.
The Kremlin has expressed concerns to President Trump that Russia is adhering to the moratorium on energy strikes, while Ukraine is not. In response, President Trump has voiced dissatisfaction with both sides for failing to honor the agreement.
Ukraine’s April wheat exports are expected to reach 1 million tons, down from 1.1 million in March according to the deputy minister.
The weekly wheat state condition reports from USDA are expected to begin next Monday.
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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 build momentum at midday, mostly driven by reciprocal tariffs that will go into effect tomorrow.
Weather concerns could also be adding in premium to the corn market this week. Over the next 5 days, heavy rainfall will stretch across Oklahoma, Arkansas, Illinois, Kentucky, and Indiana, increasing concerns over flooding.
Corn planting in the South is moving along rapidly. Louisiana jumped 20% to 81% complete. Texas planting progress jumped 10% from last week to 55% complete. Mississippi and Arkansas sit at 30% and 22% planted, respectively.
Soybean futures remain firm at midday, supported by yesterday’s report showing lower soybean acres in the U.S.
Agricultural Secretary, Brooke Rollins, announced that the USDA will be releasing more than $500 million to fund expansions in biofuel infrastructure across the country.
February Crush data will be released later today. Trade analysts see crush for the month at 188.7 mb. If realized, February crush would be down 11.2% from January and 2.4% from last year.
Wheat prices trend higher at midday on global production cuts and lower anticipated wheat acres.
Yesterday’s wheat conditions report showed Kansas unchanged from the week prior while Oklahoma and Texas fell 4% and 5% respectively. Nebraska improved 11% thanks to some beneficial rainfall.
Agricultural group, Argus, dropped their Russian wheat output to 80.3 mmt from 81.5 mmt in their last forecast.
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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 ahead of the USDA’s Prospective Plantings and Grain Stocks report, set for release at 11 a.m. CDT.
With a flood of market-moving data and the end of both the month and quarter, afternoon trade could see increased volatility.
Heavy rainfall is expected over the next week across the Ohio and southern Mississippi River valleys, likely delaying early fieldwork. Meanwhile, next week’s forecast calls for cooler but drier conditions across much of the U.S.
In Brazil, weather remains favorable for second-crop corn, with normal to above-normal moisture expected over the next two weeks. Given historically tight domestic corn stocks, weather conditions will remain a key focus in the months ahead.
Soybean futures are higher at midday ahead of the USDA’s Prospective Plantings and Grain Stocks report.
Brazil’s soybean harvest reached 81% completion late last week, ahead of last year’s pace of 73.6% for the same period.
The USDA’s Prospective Plantings report is expected to estimate soybean acreage at 83.8 million acres, down 3.3 million from last year due to weaker profitability compared to corn.
Wheat futures are slightly higher at midday Monday after hitting new contract lows late last week in both Chicago and Minneapolis.
Weak export sales and forecasts for moisture in parts of the Plains contributed to last week’s price drop.
Expectations for today’s USDA report calls for all wheat seedings at 46.48 million acres, up from 46.10 million in 2024, with quarterly stocks expected at 1.215 billion bushels, an increase from 1.087 billion last March.
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 experiencing a pullback at midday, driven by weakness in the wheat markets, along with President Trump’s threats of significantly higher tariffs if Canada and Mexico collaborate against the US.
The corn markets continue to show weakness in Friday’s trade as traders await the USDA report set to be released on Monday. The USDA is expected to estimate corn acreage at 94.36 million, significantly higher than last year’s 90.6 million.
The Buenos Aries Grain Exchange pegged Argentine conditions at 27% good/excellent, down 2% from last week and compared to 22% last year. Harvest in this area is estimated to be 19.2% completed.
The soybean market remains on a downward trend at midday as traders position themselves ahead of what is expected to be a volatile trading session on Monday, with the release of the USDA’s anticipated acreage report and a potential tariff announcement next week. Meanwhile, soybean oil continues to gain momentum, posting gains.
The Buenos Aries Grain Exchange raised Argentina’s bean conditions 1% to 32% good to excellent compared to 31% last year.
Argentina’s soybean sales so far have been the slowest in 10 years at 8.4 million tons, or 18% of the crop, due to worries over a weakening currency.
AgroConsult, following a recent crop tour, raised their Brazilian production forecast to 172.1 million tons, up from the USDA’s estimate of 169 million tons, citing record yields in six Brazilian states.
In the US, the central and eastern Corn Belt regions are expected to receive rainfall over the next week, which should significantly improve soil moisture levels before planting, though it may also cause some delays in fieldwork.
The entire wheat complex is trading lower at midday, driven by improvements in global wheat growing regions, weak demand, and a soft technical outlook.
Wheat is facing pressure from improved chances of rain in the Black Sea region next week, along with showers expected in eastern Kansas, Nebraska, and South Dakota over the next five days. However, this rainfall is forecast to miss the Southwest Plains once again.
Monday’s USDA report is expecting all wheat seedings at 46.48 million acres, up from 46.10 in 2024 and quarterly stocks are expected at 1.215 billion bushels, up from 1.087 in March last year.
The potential activation of the Black Sea transportation agreement has caused Romanian and Bulgarian wheat prices to drop sharply, although US SRW remains the cheapest origin.
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 softer at midday on continued pressure from larger expected corn acres for this season.
Weekly export sales for corn totaled 40.9 mb, which was toward the upper end of trade expectations. Year-to-date commitments are at 2.088 billion bushels, up from 1.689 billion bushels last year.
South Africa’s Crop Estimates Committee has raised their total corn crop estimate for 2025 by 4.7% to 14.6 mmt. According to the committee, this would be 13% larger than 2024’s crop total.
Soybean futures are gaining momentum at midday on concerns over smaller bean acres in the US.
Weekly export sales for soybeans came in at 11.6 mb, which was on the low end of expectations. Year-to-date commitments total 1.681 billion bushels, up from 1.482 billion bushels last year.
Brazil’s soybean harvest has rapidly progressed as weather conditions have turned warmer and drier allowing for quick progression. Current production estimates sit at 169.3 mmt, which is down less than 1% from the previous estimate.
According to Anec, Brazil’s soybean exports could reach a record during March. Shipments are estimated to reach between 15-16.1 mmt, which compares to 13.5 mmt during March 2024.
Wheat prices remain lower at midday on rain chances for much of the Central Plains states and Eastern corn belt.
Weekly export sales for wheat totaled 4.1 mb, which was on the low end of expectations. Year-to-date commitments total 767.9 mb, up from 688.3 mb last year.
The USDA announced the sale of 100,000 mt of US wheat to Taiwan overnight.
Tensions between Russia and Ukraine are still persistent as their proposed agreement has not been activated yet. Russia has said they will move forward with the black sea grain agreement but not before they have access to the global SWIFT payment system, which the US has not confirmed the reinstatement yet.
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 turn lower at midday as traders await the release of the USDA’s reports, scheduled for Monday, March 31.
Corn remains under pressure due to expectations that U.S. farmers will increase their corn production to historically high levels this spring. U.S. farmers are projected to plant 94.36 million acres of corn this year, up 4.2% from 90.59 million acres in 2024.
Traders continue to closely monitor tariff developments ahead of President Trump’s planned announcement of reciprocal tariffs on April 2, which has sparked widespread concern over the future of U.S. agricultural exports.
Early corn planting in the southern US is advancing rapidly with 45% of the corn crop planted in Texas, based on a USDA report.
Ethanol production slowed to an 8-week low at 310 million gallons, down from 325 million the previous week. There was 105.5 million bushels of corn used in the production process.
Soybeans continue to rise at midday, despite ongoing pressure from weaker U.S. exports and expectations of a large crop from South America. Both soybeans and soybean oil are trading higher, while soybean meal is mixed.
Brazil’s soybean crop, projected to reach a record production high, was 77% harvested as of late last week, up from 69% at the same time in 2024.
Based on a Reuters survey, US soybean plantings are expected to come in at 83.76 million acres, down 3.8% from 87.05 million acres in 2024.
European Union soybean imports for the 2024/2025 season reached 9.84 mmt at the start of this week, a 7% increase compared to the same time last year, according to data from the European Commission.
Over the next 10 days, Brazil and Argentina are expected to receive rainfall, which will support ongoing crop development.
Wheat prices continue to decline at midday, supported by forecasts of rainfall in the Black Sea and central Plains crop regions. Additionally, improved conditions for SRW wheat in parts of the U.S are contributing to the downward movement.
Wheat futures are also under pressure as the Black Sea grain corridor is expected to reopen following an agreement between the U.S and Russia, ensuring safe passage for exports.
U.S. all-wheat plantings for the upcoming crop year are projected to total 46.48 million acres, based on a Reuters survey.
Grain consultancy Sovecon said that it downgraded its Russian wheat export forecast for the 24/25 season to 40.7 mmt from 42.2 mmt. But it also increased the 25/26 season export forecast to 39.1 mmt from 38.9 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 prices continue to drift lower at midday as much of the Eastern corn belt is expected to see rain this next week.
Corn planting is well under way for much of the Southern US. Louisiana sits at 61% planted, followed by Texas at 45%, Mississippi at 14%, and Oklahoma at 10%.
The Rosario Grain Exchange reported that corn harvest in Argentina has reached 23% but continues to advance at a slow pace due to high humidities.
Soybean futures continue to be choppy at midday with limited news and continued tariff uncertainties.
The US and China are scheduled to meet sometime this week to discuss how to move forward amid the ongoing trade war. Tensions are still high between the two countries so a deal may not be made right away.
AgRural lowered their soybean production estimate for Brazil to 165.9 mmt, well below the USDA’s projection of 169 mmt. As of March 20, 77% of the crop was harvested, compared to 70% complete last week and 69% the same week last year.
Wheat prices remain weaker at midday on forecasted weather calling for rainfall for much of the SRW growing areas in the US over the next week.
Winter wheat ratings were seen improving 1% to 49% good-to-excellent for Kansas. Oklahoma continues to be hampered by drought conditions and severe weather threats. Good-to-excellent ratings for the state fell 9% to 37%.
The USDA Attache in Mexico City reported that 25/26 production could only amount to 1.6 mmt, which would be down 40% from last season.
IKAR has raised their Russian wheat production forecast for the 25/26 season from 81 mmt to 82.5 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 prices continue to decline at midday as traders remain focused on tariff policy developments and await the release of the USDA’s Prospective Plantings Report, scheduled for March 31.
Corn futures continue to extend Friday’s losses, driven by concerns that U.S. tariffs may dampen demand for U.S. agricultural products and expectations that the USDA will forecast a sharp increase in corn acreage this spring.
Traders are closely monitoring South American weather, which appears favorable for the safrinha corn growing areas over the next 7-10 days. Brazil is expected to receive beneficial rains in Paraná and Rio Grande do Sul, with no extreme heat anticipated across the country’s crop regions.
At the U.G. Gulf Coast, basis bids for corn continued to rise on Friday due to limited farmer selling and slow barge movement along the Mississippi River, traders told Reuters. Repairs and winter closures throughout the river system have also caused delays in barge tows.
Soybeans continue to trade lower at midday as futures struggle with slower demand for U.S. soybean exports, coupled with lower predicted U.S. acreage for 2025. The entire soybean complex is posting losses at midday.
Soybean prices remain under pressure this week due to declining U.S. exports, expectations of a large South American crop, and escalating trade disputes. If these disputes persist, they could weaken foreign demand for U.S. agricultural products.
Brazilian consultant AgRural has lowered its forecast for the country’s soybean harvest to 165.9 mmt, a reduction of 2.6 mmt from the previous estimate. This decrease is attributed to drought conditions that affected production in Brazil’s Rio Grande do Sul state.
This week, the U.S. Trade Representative is expected to begin talks with his Chinese counterpart, marking the start of potential trade deal negotiations. However, with the large volume of soybeans coming out of Brazil, it is doubtful that China will be in any rush to reach an agreement.
All three classes of wheat remain lower, still pressured by last week’s rebound in the U.S. dollar. However, the market retains underlying support from tightening global supplies and ongoing weather damage to the U.S. winter wheat crop.
Wheat futures remain lower due to the potential revival of the Black Sea Grain Transport Initiative and a cease-fire. Over the weekend, the U.S. envoy stated that the U.S., Russia, and Ukraine are moving toward a peace deal.
Continued dryness is expected across most of the Black Sea region, though some areas have received rainfall. IKAR raised its Russian wheat estimate to 82.5 million metric tons, up from 81.0 million, due to improvements in the southern and central regions.
Weather continues to pressure wheat prices, despite the most recent weather system passing through the Southern Plains and missing key wheat production areas. Additionally, little to no rain is forecasted for the upcoming week. Traders will begin monitoring U.S. state condition ratings for insights into yield potential as wheat emerges from dormancy and begins to green up across Kansas.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
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