Corn prices are trading lower at midday, with yesterday’s rally fading quickly. Prices have dipped back to this week’s lows, and the market remains volatile as traders await the USDA’s Prospective Plantings report, set for release on March 31. Uncertainty surrounding tariffs continues to add pressure, keeping the market on edge.
USDA confirms the US export sales of 218,604 tons of corn for delivery to an unknown destination in 24/25.
The corn market faced additional pressure yesterday following rumors that China was set to purchase a significant volume of Brazilian corn cargoes, which is somewhat unusual for this time of year.
The U.S. and safrinha corn crops will play a crucial role in global supplies later this year, and any signs of weather-related issues could trigger significant market reactions.
Soybean prices are turning higher at midday as the Brazil harvest progresses, and concerns over U.S. spring weather remain premature. While soybean meal is trading lower, soybean oil is experiencing gains at this time.
USDA confirms the US export sales of 20,000 tons of soyoil for delivery to an unknown destination in 24/25.
Soybean market pressure has returned following the cancellation of the oilseed workers’ strike in Argentina. The cancellation was because of government meeting earlier in the week.
U.S. tariffs have led to Brazilian soybean premiums rising due to strong demand from China, which has also provided some support to U.S. prices.
The Rosario Grain Exchange has reduced its outlook for Argentina’s 24/25 soybean crop, dropping its estimate to 46.5 mmt from 47.5 mmt previously.
Wheat prices are trending lower this morning across all three classes, with wheat futures pulling back after stronger-than-expected weekly export sales were released yesterday.
Some beneficial moisture is expected in the Northeast Plains and Eastern Midwest over the next week, easing weather concerns in parts of the U.S. However, the Western and Southern Plains remain dry.
The U.S. winter wheat area experiencing drought increased by 3% this week, reaching 27%, compared to 14% last year. Meanwhile, U.S. spring wheat under drought has risen to 39%.
French SRW conditions for the week remain unchanged at 74% good/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 prices continue to bounce higher at midday after closing near the 200-day moving average yesterday. Production cuts in South America are also boosting prices today.
Weekly corn export sales totaled 38 mb which were in line with trade expectations. Year-to-date commitments sit at 1.990 billion bushels, up 25% from last year.
The Rosario Grain Exchange cut their corn production estimate for Argentina to 44.5 mmt. Well below the USDA’s current estimate of 50 mmt.
Strategie grains has raised their EU corn production estimate for 25/26 to 60 mmt, up 1.9 mmt from last season.
Soybean futures continue to trend higher at midday on support from production cuts in South America.
Weekly soybean export sales came in above expectations at 29 mb. Year-to-date commitments total 1.656 billion bushels, up 14% from a year ago.
The Rosario Grain Exchange lowered their soybean production estimate for Argentina by 1 mmt to 46.5 mmt.
Wheat prices continue to firm at midday on concerns over inland hurricanes which are expected for much of the Plains and Midwest states this weekend.
Weekly wheat export sales totaled 31 mb which was above trade expectations. Year-to-date commitments total 775 mb, up 14% from last year.
IKAR has lowered their Russian wheat export forecast from 42.5 mmt to 40 mmt.
There is yet to be a cease fire agreement between Russia and Ukraine. Recent reports state Russia has continued to advance in Ukraine before an agreement is reached.
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 continue to trade lower at midday as attention shifts back to weather conditions in South America and the U.S., along with ongoing discussions surrounding tariffs. This follows a neutral USDA report released yesterday regarding corn.
Global exporter stocks are at their third-lowest level on record, and Brazil’s safrinha corn crop will be crucial to the global supply situation.
Traders will remain focused on the weather in Brazil and the U.S. over the next couple of months, as favorable growing conditions will be crucial to the market and crop yields.
Ethanol production slipped to 312 million gallons, down from 321 million gallons the previous week, however this is still up 3.7% from YA. Production was below expectations, with 106 million bushels of corn used in the process.
Soybeans remain lower at midday, following the mostly neutral USDA report released yesterday. The USDA kept the U.S. balance sheet for soybeans and soybean meal unchanged, but global ending stocks were reduced more than anticipated. As a result, soybeans, soybean meal, and soybean oil are all trading lower at midday.
Soybean traders continue to monitor weather conditions for the South American harvest, U.S. spring planting, and any updates on tariffs.
The Brazil harvest is now two-thirds complete, and ANEC expects Brazil’s soybean exports for March to reach 15.45 million tons, a 4% increase from last week’s forecast. Soybean prices are expected to stay under pressure due to declining U.S. exports, as a large harvest continues to come out of South America.
Some of the pressure on the soybean market this morning may stem from expected beneficial soil-replenishing rains across parts of the U.S. over the next two weeks.
Wheat futures are trading lower at midday, continuing to feel pressure from the USDA report released yesterday, which showed ending wheat stockpiles at 260.08 MMT, up from 257.56 MMT in the February report.
U.S. weather concerns for the ongoing wheat crop are easing, as beneficial rains are expected for the eastern part of the Northern Plains, along with a lack of cold temperatures in the forecast. Moisture is crucial as the U.S. crop begins to come out dormancy.
Traders remain concerned about the Black Sea region, as dry weather persists for the ongoing wheat crop.
Canada is expected to plant 2.6% more wheat in 2025 compared to 2024, while reducing its canola acreage.
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 remain higher at midday ahead of the March WASDE report which is expected to show slightly lower US and world ending stocks.
China’s Ag Ministry said imports of US corn are set to decline due to the ongoing trade war between the two countries.
Coceral has lowered their EU and UK corn production estimate from 297.8 mmt in December to 296.1 mmt.
Soybeans continue to be firm at midday as no major changes are expected in today’s supply and demand report.
AgRural estimates that Brazil’s soybean harvest has now reached 61%, up from 55% at this time last year.
According to grain and oilseed export group, Capeco, soybean production in the country is expected to drop from a record 11 mmt in 2024 to 9.5 mmt this year.
Wheat prices are softer at midday on expected higher ending stocks in today’s WASDE report.
Weekly wheat ratings showed both Kansas and Texas good-to-excellent conditions dropping by 2% and 6% respectively. Oklahoma improved 11% to 46% good-to-excellent.
Canada’s wheat plantings are seen at 26.9 million acres, slightly up from 26.6 million acres in 2024.
India’s wheat production this year could be a record at 115.43 mmt according to the countries farm ministry.
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 steady to higher to start the week, following last week’s strong finish.
Stronger-than-expected export and ethanol demand now halfway through the marketing year makes a slight reduction in U.S. corn carryout in tomorrow’s USDA WASDE report likely.
Managed money cut its net long position in CBOT corn futures and options by 118,000 contracts through March 4 — the second-largest weekly selloff on record — bringing the net long to approximately 220,000 contracts
Soybeans start the week lower as uncertainty around U.S. soybean demand persists.
Tomorrow’s USDA WASDE report is expected to show U.S. carryout steady to higher compared to last month. While crush demand remains strong, export demand has slowed in recent weeks.
The IMEA reported that soybean harvest in Mato Grosso was over 91% complete as of late last week. Brazilian soybean for export are about 40 cents per bushel cheaper than U.S. soybeans for export.
Wheat futures are leading the market higher to start the week, aiming for a third higher close in the last four sessions.
Much of the U.S. winter wheat crop is expected to green up this week, with above-normal temperatures in the forecast.
According to Thursday’s drought monitor, 24% of U.S. winter wheat areas are experiencing some level of drought, up from 14% a year ago.
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 shift higher at midday on support from tariff delays for Mexico and Canada.
The US Census Bureau estimated January corn exports at a new record high of 243 mb.
January ethanol exports came in at 195 million gallons, up 32% from the same month last year.
Brazil’s corn exports are seen reaching 337,635 mmt during March compared to 140,561 during March 2024.
Soybean futures look to rebound at midday as the market digests the news of tariff delays for USMCA goods.
The US Census Bureau estimated January soybean exports at 191 mb, down from 219 mb in January 2024.
China’s combined soybean imports for January and February rose 4.4% to 13.61 mmt. Imports are now expected to slow down this month with the trade war starting.
Brazil’s soybean exports are seen reaching 14.8 mmt in March compared to 13.5 mmt during the same period last year. Brazil is expected to take a large share of export business away from the US as the ongoing tariff situation is still a cause for concern.
Wheat prices remain weak at midday on rainfall across key growing parts of the US and rising global production estimates.
The US Census Bureau placed January wheat exports at 49 mb, down from 55 mb in January 2024.
US winter wheat under drought conditions climbed 2% from last week to 24%. This also compares to 15% this same time last year.
The Russian Ag Ministry said they could limit wheat exports if the winter wheat crop isn’t sufficient.
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 trading continues to rise at midday, as optimism grows following a heavy-volume selloff earlier in the week. Traders are hopeful that tariffs could be eased on certain products, including corn.
Corn weekly export sales came in at 38 mb and were in line with expectations. With old crop sales at 1.951 billion, up 26% from YA vs the USDA forecast of up 7%.
Total corn commitments to Mexico have reached a record 705 million, with fulfilled shipments totaling 405 million, leaving 300 million still outstanding.
Dry conditions in Brazil are starting to attract market attention, with dry weather expected to persist over the next two weeks. While it’s not a concern now, the situation will need to be monitored closely as the dryness continues.
Soybeans continue to trade higher at midday, building on yesterday’s strength amid ongoing tariff uncertainties. Soybeans, soybean meal, and soybean oil are all posting gains.
USDA confirms the sale of 20,000 tons of U.S. soy oil for delivery to an unknown destination for the 24/25 year.
Weekly soybean exports came in at 38 mb, in line with expectations. Old crop commitments are at 1.631 billion, up 13% from YA vs the USDA forecast of up 8%.
Brazil’s soybean crop is now forecasted at 171.6 mmt, down from the previous estimate of 174 mmt, due to hot and dry weather in key growing areas. Despite the decrease, the crop is still projected to be 11% higher than the 2023/24 season.
Wheat remains higher at midday, as optimism grows that a tariff compromise for grains can be reached with Canada and Mexico.
Weekly wheat exports came in at 15 mb and were in line with expectations. Year-to-date commitments are at 746 mb, up 10% from the YA vs the USDA forecast of up 20%.
Wheat fundamentals could shift significantly depending on how the U.S. wheat crop and Black Sea crops finish. Weather conditions this month and into April will play a crucial role in crop development during this critical period.
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 mixed at midday, remaining under pressure following last week’s USDA report showing nearly a 4% increase in U.S. corn planting estimates and ongoing tariff concerns.
The corn market remains volatile as tariff negotiations persist, but there is some relief following comments from the Commerce Secretary suggesting that tariffs with Mexico and Canada could be eased.
President Trump and the Mexican President have a call scheduled for tomorrow to discuss tariffs. If the corn tariff on Mexico is lifted, it could lead to a rebound in the corn market after a period of significant weakness in the last few trading sessions.
The average daily ethanol production for the week ending February 28th averaged 1.093 million barrels. It is estimated that the amount of corn used for this week’s ethanol production was 110.28 million bushels.
Soybean prices continue higher at midday following remarks from the U.S. Commerce Secretary suggesting that tariffs could be eased with Canada and Mexico. Soybeans and soybean meal are seeing gains, while soybean oil is trading lower.
USDA confirms 20,000 tons of soy oil to unknown destinations for the 24/25 year.
China purchased several cargo loads of Brazilian soybeans yesterday, while the U.S. Gulf basis is falling due to a lack of Chinese demand for U.S. soybeans.
Dr. Cordonnier kept the South American soybean estimate unchanged, as dry conditions persist in Brazil and northern Argentina. Central Argentina is forecast to receive heavy rains over the next five days, with potential flooding in some areas, though drier weather is expected to return once the rain passes.
Wheat prices continue to trade higher at midday, supported by a weaker U.S. dollar and the potential easing of tariffs, which is encouraging buying.
USDA confirms the U.S. export sale of 130,000 tons of wheat to South Korea for the 24/25 year.
LSEG kept their Russian production estimate unchanged at 79.6 mt but raised their EU27+UK production forecast to 139.4 mt, a 1.2% increase, as crop conditions have improved.
The U.S. Plains are expected to remain dry with moderate temperatures, while the Black Sea region is also forecast to stay dry. Wheat conditions in these areas are not expected to change at this time.
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 fall at midday on pressure from the implementation of tariffs.
China announced a 15% tariff on U.S. corn in retaliation of the additional 10% tariff the U.S. placed on China.
Yesterday the USDA announced a sale of 114,000 mt of corn to Mexico for delivery in 24/25.
Corn used for ethanol in January totaled 457.4 mb, down 4.6% from December but up 3.7% from January 2024.
Soybean futures continue to trade lower at midday due to the ongoing trade war.
China announced they would impose a 10% tariff on U.S. soybeans in retaliation of the U.S. tariffs on China. The country also announced they would halt soybean imports from U.S. companies, CHS, LDC, and EGT.
Soybean crush for the month of January was seen at 212.6 mb, up 9.4% from January 2024.
Wheat prices, much like the rest of the grain market, are weaker at midday. July Chicago futures look to trade lower for a seventh straight session.
U.S. winter wheat crop conditions have been updated as of March 2. Kansas and Oklahoma saw slight improvements by 4 and 1 points, respectively. Ratings were seen falling for Texas, Montana, Nebraska, and South Dakota.
Russia’s February wheat exports came in at a 1.90 mmt, which is a 5-year low for the month.
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 lower at midday, continuing on last week’s market weakness.
If futures fail to rebound by today’s close, this would mark the seventh straight session of declines.
Favorable weather persists in South America following a weekend of beneficial rainfall. In Brazil, second-crop corn planting in Mato Grosso reached 85% completion last week, slightly ahead of the five-year average.
Soybean futures are lower at midday and on pace for their fourth consecutive day lower.
Weekend rains in Argentina provided much-needed relief, adding pressure to the market as the new week begins.
The IMEA reported soybean harvest for Mato Grosso was 82% complete as of late last week, this is five percentage points ahead of the five-year average.
Wheat futures are slightly lower at midday after last week’s massive drop in prices.
Threat of tariffs with both Mexico and Canada, set to begin on Tuesday, are continuing to weigh on futures to start the week.
A mostly warm and dry pattern is expected to be in place over both the U.S. Plains as well as the Black Sea region over the coming week.
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.
