Wednesday February 26, 2025

• Markets are mostly red this morning. 
• It has been a slow news week so far, the bulls need fed and we haven’t seen the fundamental news needed to give the markets a push.
  • The USDA’s annual Agricultural Outlook Conference should provide some news for the market on Thursday and Friday.
  • As we get closer to planting season we should see an increase in fundamental factors as well.
• Yesterday the May 2025 corn contract had its 3rd consecutive lower close. The contract is trading 24 cents off its recent highs this morning.
  • US corn acres continue to be a topic of conversation due to the prospect of a drastic increase in acreage.
• Sovecon lowered their outlook for Russian wheat exports from 42.8mmt to 42.2mmt. This estimate is 4.5% lower than the average for the previous three seasons.
  • Analysts are concerned about the limited snow cover on the crop as some will be exposed to upcoming frosts.