CORN

• Corn prices are mixed at midday on recent rainfall across the corn belt and a drier weather forecast for early May, which will rapidly progress planting.
• Weekly export sales for corn were in line with expectations at 45 mb. Year-to-date commitments total 2.273 billion bushels, up 26% from last year.
• The Office of the United States Trade Representative has reported that there are currently more than 30 trade deals being worked on this week.

SOYBEANS

• Soybean futures continue to trade higher at midday, as many are hoping for China and the US to start negotiation talks amid 30 other countries doing the same.
• Weekly soybean export sales totaled 10 mb which were on the low end of trade expectations. Year-to-date commitments are at 1.729 billion bushels, up 13% from a year ago.
• Paraguay’s soybean production estimate for 2024/25 was increased by 5% to 10.2 mmt, due to favorable weather conditions.

WHEAT

• Wheat prices are seeing pressure at midday due to beneficial rainfall which is seen improving soil and crop conditions.
• Weekly export sales for wheat came in at 9 mb, in line with expectations. Year-to-date commitments total 782 mb, which is up 13% from last year.
• Egypt’s Supply Minister expects the country to import 4.5 mmt of wheat for the 2025/26 season.
• LSEG raised their 2025/26 wheat production forecast for India by 1% to 114.6 mmt.

Author

Tanner Wilson