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All prices as of 6:30 am Central Time

• Corn is trading slightly lower to start the day ahead of the planting intentions report where trade is anticipating a higher number of corn acres. Grain stocks will also be released today and corn is forecast around 8.15 billion.
• Friday’s CFTC report saw funds as sellers of corn by 32,663 contracts which reduced their net long position to 74,607 contracts.
• Estimates for today’s planting intentions report see corn acres at 94.4 million with a range between 92.5 and 96.6 million. This compares to the USDA’s outlook forum at 94.0 ma and 90.6 ma planted last year.

• Soybeans are trading higher this morning with the expectation that planting intentions will be on the low side in favor of higher corn acres. Soybean meal is trading higher while soybean oil is lower.
• Friday’s CFTC report saw funds as sellers of soybeans by 20,954 contracts which increased their net short position to 42,959 contracts. They sold 17,009 contracts of bean oil and 23,037 contracts of meal.
• Estimates for today’s planting intentions report for soybeans see acreage at 83.8 million with a range between 82.5 and 85.5 ma. This would compare to the Outlook Forum’s guess of 84.0 ma and last year’s plantings of 87.1 ma.

• All three wheat classes are trading lower this morning with KC wheat leading the way lower. This trend lower in wheat comes despite lower anticipated production  in the US and in the Black Sea region as a maritime truce could make it easier to ship grain.
• Friday’s CFTC report saw funds as sellers of Chicago wheat by 11,919 contracts which left them short 92,587 contracts. They bought back 1,213 contracts of KC wheat which left them short 45,450 contracts.
• Estimates for today’s Planting Intentions report see wheat acres at 46.5 million with a range between 45.4 and 47.1 million. This would compare to 46.1 million acres last year.

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

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

All prices as of 6:30 am Central Time

• Corn is trading lower to start the day and overnight got only 3 cents within the low earlier this month at $4.42-1/2 ahead of the planting intentions report in which traders are expecting a large acreage number.
• Yesterday’s export sales report was on the light side for corn but came in within trade expectations. 1,040k tons of corn were sold which compares to 1,558k last week and 1,333k last year. Top destinations were to Japan, Mexico, and Colombia.
• Estimates for the planting intentions report on Monday see corn acres at 94.4 million with a range between 92.5 and 96.6 million. This compares to the USDA’s outlook forum at 94.0 ma and 90.6 ma planted last year.

• Soybeans are trading lower to start the day in overall risk-off trade across the grain market. Despite trading lower today, prices are near the top of their recent range following yesterday’s double digit gains. Both soybean meal and oil are trading lower.
• According to Agroconsult, the Brazilian soybean crop is seen at 172.1 mmt after their crop tour. This would be an increase from their estimate last month of 171.3 mmt.
• Estimates for the planting intentions report for soybeans see acreage at 83.8 million with a range between 82.5 and 85.5 ma. This would compare to the Outlook Forum’s guess of 84.0 ma and last year’s plantings of 87.1 ma.

• All three wheat classes are trading lower this morning with May Chicago wheat making new contract lows overnight. The potential maritime ceasefire between Ukraine and Russia has pressured wheat futures.
• Yesterday’s export sales in wheat of 111.5k tons were on the lower end of analyst estimates and compare to 242.3k last week and 552.4k last year. Primary destinations were to Japan, Nigeria, and the Philippines.
• Estimates for Monday’s Planting Intentions report see wheat acres at 46.5 million with a range between 45.4 and 47.1 million. This would compare to 46.1 million acres last year.

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

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

All prices as of 6:30 am Central Time

• Corn is trading higher to start the day after two days of losses that saw May corn losing 13 cents and falling below support at the 200-day moving average. Tariff fears and the upcoming planting intentions report have pressured the market.
• Estimates for today’s export sales report see corn sales in a range between 600k and 1,600k tons with an average guess of 1,008k tons. This would compare to 1,558k a week ago and 1,333k a year ago at this time.
• Yesterday’s ethanol stocks report saw stocks rise by 2.9% to 27.35m bbl which compares to analyst expectations of 26.759m. Plant production came in at 1.053m b/d compared to estimates of 1.084m.

• Soybeans are trading higher this morning and have fared the best this week between corn and wheat as prices remain rangebound but have not sold off as trade expects a small acreage number in Monday’s report. Both soybean meal and oil are trading higher this morning.
• Estimates for today’s export sales report see soybean sales in a range between 300k and 900k tons with an average guess of 492k tons. This would compare to 353k last week and 384k tons the previous year.
• The Brazilian soybean harvest is reportedly nearly completed on schedule with production estimates at 169.3 mmt which is on par with the USDA’s estimate.

• All three wheat classes are trading higher to start the day with Minneapolis wheat leading the way higher. Ukraine and Russia may be arranging a maritime ceasefire which has pressured markets, but both countries have been able to export grain by other methods, so the ceasefire may not have a large effect.
• Estimates for today’s export sales report see wheat sales in a range between 100k and 600k tons with an average guess of 383k tons. This would compare to 242k last week and 552k the year before.
• Ukrainian grain exports are down 6% on the season so far with 32.3m tons of grain. Wheat exports as of May 31 were 12.9m tons which was down 4.4%.

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

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

All prices as of 6:30 am Central Time

• Corn is mixed to start the day with the front months slightly higher and new crop contracts slightly lower in quiet trade. Prices have been rangebound ahead of the planting intentions report and potential tariffs in the beginning of April.
• Early estimates for planting intentions see corn acres at 94.4 million with a range between 92.5 and 96.6 million. This compares to the USDA outlook forum’s 94.0 ma and 90.6 ma planted last year.
• Estimates for the weekly ethanol production report see production lower than last week at 1.084 million barrels per day and stockpiles at 26.76m bbl compared to 26.58m a week ago.

• Soybeans are trading higher this morning after three consecutive days of losses. Futures have been rangebound as trade expects a lower acreage number but deals with poor export demand. Soybean meal is trading lower while bean oil is higher.
• Estimates for the planting intentions report on the 31st see 83.8 ma of soybeans planted with a range between 82.5 and 85.5 ma. This would compare to the Outlook Forum’s guess of 84.0 ma and 87.1 ma last year.
• AgRural has cut its estimate for the Brazilian soybean crop to 165.9 mmt on disappointing yields in the South. This is now below the USDA’s estimate of 169 mmt. Harvest in the country is 73.84% complete.

• Wheat is mixed to start the day with Chicago and KC trading lower while Minneapolis trades slightly higher. Dry weather forecasts across HRW areas should be friendly to prices with crop conditions falling.
• Russia and Ukraine both agreed to a maritime and energy truce in exchange for eased sanctions by the US. This should make shipping grains out of the Black Sea easier.
• The weekly crop report yesterday showed good to excellent ratings in Kansas improving by 1 point to 49% while in Oklahoma, ratings fell by 9 points to just 37%. Texas improved by 3 points to 31% 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. 

All prices as of 6:30 am Central Time

• Corn is trading lower to start the day after yesterday it recovered from its lows to post a slight gain. Tariff fears are likely pressuring the market as President Trump said that the tariffs would be on automobiles, chips, and pharmaceuticals, instead of reciprocal tariffs like previously reported.
• Yesterday’s export inspections report was good for corn with 1,463k tons inspected which compared to 1,692k the previous week and 1,255k a year ago. Shipments were primarily to Mexico, Japan, and South Korea.
• The USDA ag attaché sees Mexican corn imports down in 25/26 as a result of higher domestic production. They see local prices driving a larger planting area.

• Soybeans are trading lower this morning following a lower close yesterday. Soybean prices in China have fallen which has hurt US futures, but poor export demand has been bearish as well. Both soybean meal and oil are trading lower as well.
• AgRural has cut its estimate for the Brazilian soybean crop to 165.9 mmt on disappointing yields in the South. This is now below the USDA’s estimate of 169 mmt. Harvest in the country is 73.84% complete.
• Yesterday’s export inspections were better than expected for soybeans at 822k tons compared with 658k the previous week and 786k tons a year ago. Primary destinations were to China, Egypt, and Japan.

• All three wheat classes are trading lower this morning with KC wheat leading the way lower. Crop conditions were mixed while yesterday’s export inspections came in better than expected.
• The weekly crop report yesterday showed good to excellent ratings in Kansas improving by 1 point to 49% while in Oklahoma, ratings fell by 9 points to just 37%. Texas improved by 3 points to 31% good to excellent.
• Yesterday’s export inspections was good for wheat at 485k tons which compared to 495k last week and 433k tons a year ago. Primary destinations are to the Philippines, Mexico, and Nigeria. 

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

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

All prices as of 6:30 am Central Time

• Corn are trading lower to start the day after gaining 5-3/4 cents last week. Pressure may be coming from the uncertainty of tariffs which are coming again next week along with the upcoming planting intentions report which may show a large number for corn.
• The USDA ag attaché sees Mexican corn imports down in 25/26 as a result of higher domestic production. They see local prices driving a larger planting area.
• Friday’s CFTC report saw funds as sellers of corn by 39,271 contracts as of March 18. This reduced their net long position to 107,270 contracts.

• Soybeans are trading lower this morning and although they have trended lower since the beginning of February, they have been rangebound over the past two weeks. If planting intentions are lowered in the upcoming report, soybeans could see a boost. Both soybean meal and oil are lower as well.
• The Brazilian soybean harvest is reportedly 73.84% complete which compares to 69.33% at this time last year. The US ag attaché to Brazil sees production at 173 mmt for the 25/26 crop.
• Friday’s CFTC report saw funds as sellers of soybeans by 6,461 contracts increasing their net short position to 22,005 contracts. They sold 13,757 contracts of bean oil and bought 11,014 contracts of meal.

• All three wheat classes are trading lower this morning along with the rest of the grain complex as tariff fears and uncertainty pressure markets. Needed rains for HRW wheat areas mostly missed over the weekend which could lower crop conditions.
• The US has begun ceasefire talks with Russia in the Black Sea region to secure a maritime peace before coming to a wider agreement with the war. Putin’s primary demand is how much Ukrainian territory Russia will get to keep.
• Friday’s CFTC report saw funds as sellers of Chicago wheat by 3,256 contracts leaving them net short 80,668 contracts. They bought back 2,059 contracts of KC wheat which left them short 46,663 contracts.

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

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

All prices as of 6:30 am Central Time

• Corn futures are mixed to start the day with the front months slightly lower and new crop slightly higher. For the week, May corn is set to gain 10 cents which would take back the losses of last week.
• Yesterday’s export sales report for corn was supportive at 1,558k tons sold which compared to 980.7 a week ago and 1,185k tons a year ago at this time. The top buyers were Japan, South Korea, and Mexico.
• There have been rumors that Brazil has booked US corn for import which has been supportive as well, but if this is true it is not completely uncommon as they will sometimes purchase between 1.5 and 3.0 mmt per season.

• Soybeans are unchanged to slightly lower to start the day in quiet trade across the grain complex. For the week, May futures are set to lose 2 cents which would make the fourth consecutive week of losses. Soybean meal is slightly higher while bean oil is lower.
• Yesterday’s export sales were disappointing for soybeans with just 352.7k tons sold which was below the average trade estimates. This compared to 794.8k last week and 494.3k tons a year ago. Primary destinations were to China, Taiwan, and Saudi Arabia.
• A large grain exchange in Argentina has cut their estimate for the soybean production estimate by 1 million tons as a result of drought conditions. Estimates are now at 48.6 mmt.

• All three wheat classes are trading higher in their front months but slightly lower in the deferred contracts. May Chicago wheat is set to make a small gain on the week following a 5-3/4 cent gain last week.
• Yesterday’s export sales report was poor for wheat sales at only 242.3k tons which was well below estimates and last week’s 866k but higher than a year ago at 176.3k tons. Top destinations were to Guatemala, Vietnam, and Mexico.
• US 2025 all-wheat acres could reach 46.6 million (up from 46.0 million last year). March 1 stocks are expected to be around 1,225 million bushels (up from 1,089 million last year). There’s also a chance of rain in Kansas.

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

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

All prices as of 6:30 am Central Time

• Corn futures are trading higher to start the day with the May contract finding support at the 200-day moving average yesterday before moving higher. Strong export demand has kept the corn market supported.
• US ethanol stocks fell by 2.9% to 26.575m bbl compared to analyst expectations of 27.271m. Plant production came in at 1.105m barrels per day compared to the average guess of 1.059m.
• Estimates for today’s export sales report see corn sales in a range between 650k and 1,300k tons with an average guess of 1,100k tons. This would compare to 981k last week and 1,186k tons a year ago at this time.

• Soybeans are trading lower to start the day and have been drifting to lower prices since the beginning of February due to poor export demand and tariff threats. The USDA’s potential reduction in soybean planting intentions could be helpful. Soybean meal is higher while soybean oil is lower.
• Abiove has estimated the Brazilian soybean crop for 2025 0.5% lower at 170.9 mmt compared to 171.7 mmt the previous month, but this output would still be up 11% from last year. This estimate is near the USDA’s 169.0 mmt.
• Estimates for today’s export sales report see soybean sales in a range between 250k and 800k tons with an average guess of 638k. This would compare to 795k last week and 494k the year before.

• All three wheat classes are trading lower this morning with KC wheat leading the way lower after posting double digit losses yesterday that far exceeded Chicago wheat’s loss. This came after needed rains fell in hard red winter wheat areas.
• US 2025 all-wheat acres could reach 46.6 million (up from 46.0 million last year). March 1 stocks are expected to be around 1,225 million bushels (up from 1,089 million last year). There’s also a chance of rain in Kansas.
• Estimates for today’s export sales report see wheat sales in a range between 100k and 650k tons with an average guess of 513k. This would compare to 866k last week and 176k tons the previous year.

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

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

All prices as of 6:30 am Central Time

• Dalian corn futures were lower, while South Brazil remains dry. US Northwest Midwest is also dry, and US PNW corn prices remain the cheapest for Asian buyers — with Gulf prices now competitive for North Africa.
• Trade is eyeing lower 2025 corn prices if US farmers plant 94.0 million acres (up from 90.6 million last year) and summer weather is normal. Domestic corn feed use is facing competition from wheat and sorghum.
• US March 1 corn stocks could reach around 8,200 million bushels, down from 8,352 million last year.

• The May/July soybean meal spread widened to a record -8.00. US soymeal export prices are around $347, compared to Argentina at $332. Dalian soybean and soymeal futures were lower, while palm oil and soyoil were higher.
• Rain in central Brazil is slowing the harvest, while southern Brazil and Argentina remain dry — though Argentina is expecting rain next week.
• The USDA acreage and March 1 stocks report is next. Trade expects US 2025 soybean acres near 83.0 million (down from 87.0 million last year) and stocks around 1,880 million bushels (up from 1,845 million last year). Trade tensions, tariffs, and global weather continue to fuel uncertainty.

• Wheat is supported by dry weather across the US Southern Plains and the Black Sea. However, futures are struggling near key moving average resistance due to concerns about export demand and slowing global economies.
• EU wheat exports are down 34% year-over-year. Iraq announced plans to export 2 million metric tons of wheat (typically imports 2–4 million), while Russia’s export estimate is 40.0 million metric tons (vs USDA’s 45.0 and 55.0 last year).
• US 2025 all-wheat acres could reach 46.6 million (up from 46.0 million last year). March 1 stocks are expected to be around 1,225 million bushels (up from 1,089 million last year). There’s also a chance of rain in Kansas.

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

Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.

Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies. 

All prices as of 6:30 am Central Time

• Corn is trading lower this morning but the May contract has found some support at the 200-day moving average. Yesterday’s export inspections were strong and export demand has been firm, but funds seem to continue to sell.
• Yesterday’s export inspections report saw 1,659k tons of corn inspected for export which compared to 1,844k the previous week and 1,326k tons a year ago. Corn demand has remained firm despite tariff fears.
• Brazil has decided to increase the blend of ethanol in the country’s gasoline to 30% from the current level of 27.5% in order to help the local industry with increased demand. Brazil is the world’s second largest producer of ethanol.

• Soybeans are trading higher this morning but have been relatively rangebound since the beginning of the month. World soybean values are higher which is supportive, and Chinese soybean stocks are said to be tight. Soybean meal is lower while soybean oil is trading higher.
• Yesterday’s NOPA crush report saw US soybean crush reduced to 177.87 million bushels from 187.9 mb in January. This was well below the average trade estimates and was also down from February crush a year ago.
• Yesterday’s export inspections report saw 647k tons of soybeans inspected for export which compared to 854k the previous week and 700k tons a year ago.

• All three classes of wheat are trading higher this morning as dry weather across much of the winter wheat growing areas remains a concern. Russia may also have losses in production due to weather which could tighten the world balance sheet.
• Yesterday, the USDA released its weekly crop report which showed good to excellent ratings for wheat in Kansas down to 48% from 52% the previous week. The wheat ratings in Texas and Oklahoma were unchanged at 28% good to excellent and 46% respectively.
• Yesterday’s export inspections report saw wheat inspections at 493k tons which compared to 242k the previous week and 394k tons a year ago at this time.

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

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