CORN

• Corn is leaning higher at midday after March corn reached 6-month highs on Tuesday.
• Expanding dry conditions throughout Argentina and Southern Brazil could help keep support on breaks.
• Emater estimates that corn plantings in Rio Grande do Sul have reached 95%.

SOYBEANS

• Soybeans are trading higher at midday after a strong close to end 2024 on Tuesday.
• Indonesia has not yet finalized their regulations for the implementation of B40 blend biodiesel but is aiming to have this completed this week.
• NASS Crush will be released this afternoon with average trade guesses for crush around 206-208.1 mb, which would be about 4% higher from a year ago.

WHEAT

• All three wheat classes are trading lower at midday on a higher US dollar and added precipitation across the Plains states in the next 6-10 days.
• Mexico announced they will temporarily remove their wheat import tariff to rebuild stocks and lower domestic prices.
• EU wheat prices hit 6-month highs overnight, which could offer some support under the market.

Author

Tanner Wilson