CORN

• Corn prices remain higher at midday ahead of the March WASDE report which is expected to show slightly lower US and world ending stocks.
• China’s Ag Ministry said imports of US corn are set to decline due to the ongoing trade war between the two countries.
• Coceral has lowered their EU and UK corn production estimate from 297.8 mmt in December to 296.1 mmt.

SOYBEANS

• Soybeans continue to be firm at midday as no major changes are expected in today’s supply and demand report.
• AgRural estimates that Brazil’s soybean harvest has now reached 61%, up from 55% at this time last year.
• According to grain and oilseed export group, Capeco, soybean production in the country is expected to drop from a record 11 mmt in 2024 to 9.5 mmt this year.

WHEAT

• Wheat prices are softer at midday on expected higher ending stocks in today’s WASDE report.
• Weekly wheat ratings showed both Kansas and Texas good-to-excellent conditions dropping by 2% and 6% respectively. Oklahoma improved 11% to 46% good-to-excellent.
• Canada’s wheat plantings are seen at 26.9 million acres, slightly up from 26.6 million acres in 2024.
• India’s wheat production this year could be a record at 115.43 mmt according to the countries farm ministry.

Author

Tanner Wilson