Midday

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• Corn futures are trading slightly higher at midday, continuing to draw spillover support from strength in the energy markets. May corn futures are up 1-1/2 cents at $4.64-3/4, while December corn is 1-1/4 cents higher at $4.91.
• USDA released its weekly export sales report this morning, showing solid demand for corn. Net sales for the 2025/26 marketing year totaled 1.17 million metric tons, with an additional 12,000 metric tons booked for the 2026/27 marketing year.
• Oil markets saw sharp gains on Thursday, with prices jumping as much as 3% following a major escalation in the Middle East. Iran launched attacks on key energy infrastructure across the region in retaliation for a strike on its South Pars gas field, disrupting both oil and natural gas production and exports. For the corn market, this remains an important development. Corn maintains a strong relationship with energy markets through ethanol demand, meaning higher crude oil prices can provide underlying support to corn values as biofuel economics improve.

• Soybean futures are posting modest gains as the market continues to recover from Monday’s losses. May soybean futures are up 1/4 cent at $11.62, while November soybeans are 5 cents higher at $11.46-1/2.
• USDA reported soybean export sales this morning. Net sales for the 2025/26 marketing year totaled 298,200 metric tons, with an additional 6,600 metric tons booked for the 2026/27 marketing year.
• Higher-than-expected inflation data released on Wednesday provided underlying support to both corn and soybean markets. Rising inflation expectations tend to draw investment into tangible assets like grains and oilseeds, as funds look to hedge against inflationary pressure.

• The wheat complex is trading mixed at midday, with Kansas City futures under modest pressure while Minneapolis spring wheat posts slight gains. May Chicago wheat is down 2 cents at $6.02-1/4, Kansas City wheat is 5-3/4 cents lower at $6.20-1/4, and Minneapolis spring wheat is up 1/2 cent at $6.37-3/4.
• Chinese customs data showed a sharp increase in wheat demand during February. Imports of wheat and wheat flour totaled 320,000 metric tons for the month, up 344.1% from a year ago. On a year-to-date basis, imports have reached 1.29 million metric tons, marking a substantial increase of 1,068.7% compared to the same period last year.
• Coceral has increased its outlook for the 2026 EU and UK total grain harvest, now estimating production at 298.8 million metric tons, up from a previous forecast of 296.7 million. However, its wheat outlook moved in the opposite direction, with the estimate reduced from 143.9 million metric tons to 142.6 million. For reference, the 2025 wheat harvest totaled 148.7 million metric tons, indicating production is still expected to fall short of last year’s levels.

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. 

Grain Market Insider Interactive Quote Board

• Corn is higher at midday, supported by strength in crude oil. May corn is up 4.2 cents at 4.58½.
• S&P Global released its spring acreage estimate for U.S. corn at 95.2 million acres, down from 98.8 million in the current season, but still higher than some other private estimates.
• Planting in the southern U.S. is expected to begin within the next 10 days. On March 31, the USDA will release its Grain Stocks and Planting Intentions reports. With rising fertilizer and diesel costs, some surprises are anticipated in the data.
• Ethanol production slipped to 321 million gallons in the week ending Friday, March 13, down from 331 million the previous week and 1% lower year over year. Output came in at the low end of expectations.

• Soybeans are trading higher at midday despite concerns that Chinese demand may be delayed following the postponement of the Beijing summit. The entire soy complex is also higher, with May soybeans up 0.6 cents at 11.57½.
• By late April to early May, Brazil’s harvest will be complete, Argentina’s harvest will be advancing, and South American supplies will be peaking. This seasonal influx is not ideal for U.S. demand, as South American grain remains significantly discounted. China is expected to favor South American purchases, turning to the U.S. only for occasional politically driven buying.
• Brazil’s Agriculture Minister denied any changes to inspection protocols this week, though another cargo was reportedly rejected by China. Brazilian officials are expected to travel to China next week to negotiate import protocols.
• S&P Global estimated U.S. soybean spring acreage at 85.0 million acres, up from 81.2 million in the current season.

• Wheat is higher at midday, supported by strength in energy markets. May Chicago wheat is up 10.2 cents at 6.00 ¼, while May Kansas City wheat is 14.2 cents higher at 6.21.
• Weather concerns are increasing as hot temperatures move into the southern Plains this weekend, with readings expected in the mid-90s across Texas and Oklahoma. Precipitation is also forecast to run below normal over the next two weeks.
• Russia’s exports are beginning to pick up, with railway operator Rusagrotrans expecting March wheat exports to reach 4.5 million tons, well above the five-year average of 2.9 million.
• China’s customs data showed February wheat imports were up 344% from a year ago, with year-to-date 2026 imports rising more than 1,000% versus the same period last year. China appears to be taking advantage of abundant, competitively priced global wheat supplies.

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. 

Grain Market Insider Interactive Quote Board

• Corn futures are backing off at midday after earlier strength, pressured by weaker wheat prices. July futures are down 4-00 cents to $4.61-3/4.
• Conab estimates that Brazil’s safrina crop planting is now at 85.5% complete. The group also mentioned that there are about 1.3 million hectares yet to be planted in the center-south region.
• Ukraine’s exports continue to lag last year’s pace with total exports for the current marketing year sitting at 13.03 mmt. This is down from 16.10 mmt last year.

• Soybeans are trying to push higher at midday, lifted by a slight rebound in crude oil. July futures are up 2-1/4 cents to $11.69-3/4.
• Soybeans remain affected by news headlines and today’s trade is no different after President Trump asked China for a one-month delay for the Bejing summit. This is leading to some optimism that both sides may continue trade talks.
• NOPA crush for the month of February exceeded expectations at 208.785 mb. This was up 17.4% from February 2025. Soyoil stocks totaled 2.080 billion, up 9.5% from January and 38.4% higher from a year ago.

• All three wheat classes are lower at midday pressured by broad grain weakness. July Chicago wheat is down 8-00 cents to $5.99-3/4, July KC is 11-1/2 cents to $6.19, and July Minneapolis is 10-1/4 cents lower to $6.38-1/4.
• Recent weather events are helping to keep wheat prices somewhat stable as cold weather threatens freeze injury to some parts of the Plains states.
• Ukraine wheat exports are slow with current marketing year exports totaling 9.41 mmt, down from 12.73 mmt this time 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. 

Grain Market Insider Interactive Quote Board

• Corn futures are starting the week lower, following sharp losses in soybean futures. May corn is currently down 13 cents trading near 453 while December futures are 11 cents lower trading near 480.
• In addition to weaker soybeans, crude oil futures are down about $4 per barrel, both weighing on a corn market that had recently moved into technically overbought territory.
• In South America, Argentina’s corn harvest is roughly 10% complete, while second-crop corn planting in Mato Grosso, Brazil’s largest producing state, was essentially finished as of late last week.
• A convergence of major moving averages just below the 450 level on May corn could provide strong technical support if the market continues to pull back.

• Soybean futures are sharply lower early Monday, with May futures down over 50 cents, currently trading near 1173. Selling was triggered by reports that President Trump may postpone his late-March visit to China to focus on military operations in the Middle East.
• The recent soybean rally had been supported by expectations surrounding the China meeting and stronger soybean oil prices. With uncertainty around the meeting and soybean oil down more than 3% this morning, the market has shifted to a risk-off tone to start the week.
• In Argentina, soybeans are entering the peak pod-fill stage, with recent rainfall helping stabilize crop conditions. Additional moisture is expected over the next two weeks, which could support a strong finish to the growing season.
• In Brazil, while quality concerns persist, the record crop size remains largely unquestioned. Harvest in Mato Grosso was estimated at 96% complete as of late last week.

• Wheat futures are lower across the board Monday. Chicago May futures are down 13 cents trading near 600. May KC futures are down 5 cents trading near 625 while May Spring Wheat futures are down 9 cents trading near 627.
• The U.S. hard red winter wheat belt is forecast to remain warmer and drier than normal over the next two weeks, allowing dryness concerns to persist across key growing areas. Meanwhile, sharply lower corn and soybean futures to start the week are weighing on wheat prices Monday.
• U.S. demand remains relatively solid despite intense global competition, with export commitments up 12% from 2024–25 levels through March 5. However, U.S. wheat continues to face a pricing disadvantage compared to major exporters such as Argentina and Russia.

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. 

Grain Market Insider Interactive Quote Board

• Corn continued to trend lower at midday as crude oil remained under pressure and the U.S. dollar strengthened. May corn is down less than a cent at 4.61 ¾.
• CONAB is set to release its latest update this morning, with corn production expected at 139.8 million tons.
• The Buenos Aires Grain Exchange reports that Argentina’s corn harvest is now just under 10% complete.
• U.S. corn area under drought declined 5% this week to 46%, compared to 55% at the same time last year. Additional precipitation is expected across the northern Midwest and eastern Corn Belt over the next several days, though conditions are expected to turn drier again after early next week.
• LSEG estimates that lower corn acreage this spring could reduce U.S. corn production by 7.2% from last season if trendline yields of 183 bushels per acre are achieved.

• Soybeans continue to move lower at midday as crude oil prices pull back and the U.S. dollar moves above 100 for the first time since Thanksgiving 2025. The entire soy complex is lower at midday with May soybeans down 11.2 cents at 12.16.
• CONAB will release its latest update this morning, with Brazil’s soybean crop expected at 179.3 million metric tons.
• The Buenos Aires Grain Exchange reported Argentina’s soybean conditions improved 2% from last week, while U.S. soybean area under drought fell 6% this week to 47%, compared to 46% at this time last year.
• U.S. and Chinese officials will meet in Paris this weekend to lay the groundwork for the early April summit in Beijing. That could provide some support for soybeans through the end of March on hopes of potential pre-summit purchases.

• Wheat is trading higher at midday amid ongoing global weather concerns. Chicago May wheat is up 9.6 cents at 6.08 1/4, while Kansas City May wheat is up 10.6 cents at 6.38.
• Russian wheat export prices reached a 6½-month high this week, but recently slower exports suggest there is still ample exportable supply.
• Dryness is increasing across the Black Sea region and Russia’s southwest growing areas, including the Volga region, where moisture levels have fallen to a six-year low. Germany and Poland are also expected to trend drier, while the U.S. Plains are forecast to enter a very warm and dry period through the end of the month.
• U.S. winter wheat under drought fell 1% this week to 55%, still double the 27% reported at this time 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. 

Grain Market Insider Interactive Quote Board

• Corn futures continued to trade higher at midday, supported by strength in crude oil markets. May corn rose 4.2 cents to 4.64½.
• CONAB is expected to release its latest production update tomorrow morning. Current estimates place safrinha corn planting at 76% complete, trailing the 83% historical average. Based on the current pace, approximately 6–7 million acres remain to be planted. Dr. Michael Cordonnier suggests that 1–2 million of those acres could ultimately be switched to milo if delays continue.
• Pressure is building for government action on fertilizer prices as planting approaches. If fertilizer costs stay elevated over the next 60 days, the market could see a reduction in U.S. corn acres.
• Weekly corn export sales came in at 60 million bushels, matching trade expectations. Year-to-date commitments now stand at 2.619 billion bushels, up 32% year-over-year, well ahead of the USDA’s projected 15.5% increase.

• Soybeans continued to trade sharply higher at midday as strength in crude oil spilled over into the market, providing additional support. The entire soy complex was higher at midday, with May soybeans up 19 cents at 12.33.
• Cargill reported yesterday that exports of Brazilian soybeans to China are currently paused due to changes the Brazilian government made to the export inspection process at China’s request. Some traders view this as a potential signal that China may be creating room for U.S. soybean purchases later this month ahead of the Trump–Xi meeting.
• CONAB will release its latest crop estimates tomorrow morning. The agency currently estimates harvest progress at 50.6% complete, compared to 60.9% at the same time last year.
• Soybean export sales for the week totaled 17 million bushels, coming in at the low end of expectations. Year-to-date commitments stand at 1.341 billion bushels, down 19% from last year, compared to the USDA forecast calling for a 16% decline.

• Wheat also continued to push higher in midday trade as global developments provided support. May Chicago wheat was up 11.4 cents at 6.06½, while May Kansas City wheat was up 11.2 cents at 6.24¾.
• Germany’s crop is estimated to fall 3.8% year over year, while Expana estimates EU SRW production at 128.6 million tons, slightly above last month’s estimate of 128.3 million tons.
• Russia is redirecting wheat exports to Iran via the Caspian Sea as shipments from Black Sea terminals remain suspended.
• Wheat export sales totaled 17 million bushels, coming in above expectations. This brings year-to-date commitments to 864 million bushels, up 12% from last year, compared to the USDA forecast calling for a 9% increase.

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. 

Grain Market Insider Interactive Quote Board

• Corn is trading higher at midday after yesterday’s lower close, with stronger overnight energy prices providing support. May corn is up 5.6 cents at 4.57 ¼.
• Dr. Cordonnier reduced his Argentina crop estimate by 1 million tons while increasing his Brazil estimate by a similar amount.
• Farmers in Mexico have been protesting the government’s lack of action on low corn prices. The Mexican president yesterday proposed prioritizing private sector purchases of domestically produced corn over imports. Because Mexico is a major buyer of U.S. corn, the measure could affect U.S. exports if implemented.
• Ethanol production rose to 331 million gallons in the week ended March 6, up from 322 million the prior week and 6% above year-ago levels, coming in at the high end of expectations.

• Soybeans are higher at midday following yesterday’s USDA report, which offered no major surprises for the soybean sector. Soybeans and soybean oil are higher, while soybean meal is lower at midday. May soybeans are up 19.6 cents at 12.22.
• Dr. Cordonnier left his Brazil crop estimate unchanged and reduced his Argentina estimate by 500,000 tons to 48 million, in line with the USDA.
• A fire at Cargill’s soy processing facility in Wichita, Kansas, was reported late Monday. The plant will remain offline until damage can be assessed and repairs completed. The facility primarily serves domestic markets rather than exports.

• Wheat is higher at midday, supported by stronger overnight energy prices. May Chicago wheat is up 4.2 cents at 5.95 ¼, while May Kansas City wheat is up 7 cents at 6.15 ¾.
• Beneficial rains were reported across southeastern areas of the southern Plains over the last 24 hours, but precipitation is expected to be sparse over the next two weeks as a below-normal moisture pattern develops across the Plains.
• Safras pegged Brazilian production at 6.85 million tons, down 14.5% from last year as planted area declined 15%.
• India’s wheat output is projected to hit a record 120.2 million tons, up from 118 million tons last 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. 

Grain Market Insider Interactive Quote Board

• Corn futures remain weaker at midday, pressured by the sharp drop in energies. May futures are down 5-3/4 cents to $4.48-00 while July futures are 5-1/2 cents lower to $4.60-00.
• Today’s March WASDE is expected to show a slight increase from 2.127 to 2.136 billion bushels for US ending stocks. World ending stocks are seen left unchanged from February’s report.
• AgRural estimates Brazil’s safrina corn planting at 82% complete, behind last year’s pace of 92% at this time. The group also pegs Brazil’s first corn crop at 42% harvested, lagging last year’s pace of 54% through the same period.

• Soybeans are starting to lean higher after early pressure from the pull back in energies. May futures are up 2-1/4 cents to $11.98-1/2 while the July contract is 2-3/4 cents higher to $12.11-3/4.
• Today’s WASDE report is expected to show a slight drop in US ending stocks from 350 mb to 344 mb. World stocks are also expected to drop slightly. 
• According to AgRural, Brazil’s soybean harvest is see at 51% complete, up from 36% last week but down from 61% through the same period last year.

• All three wheat classes are trading lower at midday along with corn and soybeans. July Chicago futures are down 12-1/4 cents to $6.00-3/4, July KC is down 11-1/2 cents to $6.21-1/2, while July Minneapolis futures are 16-1/4 cents lower to $6.42-1/2.
• US ending stocks are seen falling to 926 mb, down from February’s estimate of 931 mb. World ending stocks are expected to be left unchanged from February.
• Rainfall is expected to move in next week across much of the SRW growing areas, while the Plains are expected to miss out. Upside potential may be capped as rains move through.

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. 

Grain Market Insider Interactive Quote Board

• Corn futures are continuing higher at midday with May corn up 4 cents at 464-3/4 and December corn up 6 cents at 490-1/2.
• Crude oil futures traded as high as $120 per barrel overnight as the conflict in the Middle East expanded over the weekend. While both corn and crude have since backed off their overnight highs, market volatility and uncertainty remain elevated.
• The USDA will release their March WASDE report tomorrow, minor balance sheet adjustments are expected with the report taking a major backseat to the conflict in the Middle East.

• Soybean futures are higher at midday with May soybeans up 14 cents near 1215 and new crop November futures up 12 cents trading near 1159.
• Soybeans and soybean oil gapped higher Sunday night as the energy and broader agricultural complex reacted to continued strikes in the Middle East over the weekend, with no clear end to the conflict in sight.
• Brazilian export soybeans have widened their price advantage over U.S. supplies amid recent market moves, with the spread now estimated near $1.30 per bushel.
• Managed money funds were estimated to hold a net long position of nearly 200,000 soybean contracts as of March 3. For comparison, funds held a net long of nearly 240,000 contracts at their peak last November.

• Wheat futures are following the grain complex higher to start the week. May CBOT wheat is up 5 cents currently trading near 622. May KCBOT wheat is up 9 cents currently trading near 632 while May MIAX spring wheat is up 9 cents now trading near 641.
• As in corn and soybeans, funds have been active buyers in wheat and are likely now net long after covering sizeable short positions. Chicago funds were net short nearly 120,000 contracts as recently as January. Funds are also net long Minneapolis wheat and have covered most of their Kansas City short position.
• Weekend storms brought some moisture to parts of the Plains, but the western Plains — particularly the Texas Panhandle — remain very dry. Those areas will need meaningful rainfall by April to support crop conditions.

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. 

Grain Market Insider Interactive Quote Board

• Corn futures continue to push higher amid ongoing concerns about potential disruptions to global fertilizer supplies as spring planting approaches. May corn is up 3.4 cents at 4.57.
• There are rumors in the U.S. of potential additional corn acreage reductions this spring if farmers did not secure fertilizer supplies before the war with Iran began and are unable to obtain any before spring planting, as roughly one-quarter to one-third of global fertilizer trade moves through the Strait of Hormuz.
• U.S. drought coverage increased by 10% this week to 51%, compared to 60% at this time last year. Significant moisture is forecast for the south-central Midwest, the eastern Corn Belt, and the Delta over the next week.
• Argentina’s harvest is still underway, reaching 7% complete as of this week, according to the Buenos Aires Grain Exchange.
• In Brazil, safrinha planting is likely nearing three-fourths complete across the country, with the top producing state, Mato Grosso, potentially beyond 90%. IMEA will release its update this afternoon.

• Soybeans continue to post gains in midday trade as sharply higher energy prices provide support. The entire soy complex is trading higher at midday, with May soybeans up 16.4 cents at 11.95 ¼.
• The Iran war continues to disrupt global shipping, and during times of conflict, securing food supplies becomes a priority, which is sparking buying across the soy complex.
• U.S. drought coverage increased by 10% this week, highlighting the need for additional soil moisture in some areas as spring planting approaches.
• Argentina’s soybean conditions have stabilized, though 26% of the crop remains rated poor to very poor. Rainfall over the next two weeks is expected to favor the northern growing region, while the southeastern region remains dry and is approaching peak pod filling.

• Wheat is posting double-digit gains at midday, leading the grain complex higher. May Chicago wheat is up 19.6 cents at 6.03 ½ while May Kansas City wheat is up 16.6 cents at 6.09.
• The UN FAO estimates global wheat output will decline 3% in 2026, while the global food price index rose 0.9% in February, marking its first increase in five months.
• U.S. winter wheat under drought increased 6% this week to 56%, more than double the level at this time last year, which was 24%. Some rain moved across the far southern Plains overnight, with additional precipitation in the forecast for next 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.