TFM Midday Update 03-31-2025

CORN

Corn futures are trading lower at midday ahead of the USDA’s Prospective Plantings and Grain Stocks report, set for release at 11 a.m. CDT.
With a flood of market-moving data and the end of both the month and quarter, afternoon trade could see increased volatility.
Heavy rainfall is expected over the next week across the Ohio and southern Mississippi River valleys, likely delaying early fieldwork. Meanwhile, next week’s forecast calls for cooler but drier conditions across much of the U.S.
In Brazil, weather remains favorable for second-crop corn, with normal to above-normal moisture expected over the next two weeks. Given historically tight domestic corn stocks, weather conditions will remain a key focus in the months ahead.

Soybean futures are higher at midday ahead of the USDA’s Prospective Plantings and Grain Stocks report.
Brazil’s soybean harvest reached 81% completion late last week, ahead of last year’s pace of 73.6% for the same period.
The USDA’s Prospective Plantings report is expected to estimate soybean acreage at 83.8 million acres, down 3.3 million from last year due to weaker profitability compared to corn.

Wheat futures are slightly higher at midday Monday after hitting new contract lows late last week in both Chicago and Minneapolis.
Weak export sales and forecasts for moisture in parts of the Plains contributed to last week’s price drop.
Expectations for today’s USDA report calls for all wheat seedings at 46.48 million acres, up from 46.10 million in 2024, with quarterly stocks expected at 1.215 billion bushels, an increase from 1.087 billion last March.

Keegan Madigan