CORN

• 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

• 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.

WHEAT

• 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.

Author

Tanner Wilson