Friday February 28, 2025

• Corn and soybeans are trading in the red to start the day and wheat is trying to hold in the green.
• Export Sales
  • Corn sales missed the trade guess yesterday, showing a seasonally low week at 31.3mbu. Year to date sales are 196mbu ahead of the USDA target. 
  • Soybeans sales fell mid-range at 15.1mbu, which is on par for the course when we look at the past month of weekly sales.
  • Wheat missed its mark this week, failing to meet the low end of expectations at 9.9mbu. 
• Trump talk
  • President Trump made comments about possibly delaying the new tariffs on Mexico and Canada until April 2nd, another statement made by white house officials said that March 4th was the deadline for the new tariffs to go in effect. 
  • Trump also announced an additional 10% tariff on China. 
• Weather Update
  • The U.S. remains dry today and tomorrow before rains fire up in the southern plains on Sunday/ Monday, leading to a wetter early-week period in the plains. The 11-15 day forecast looks wetter
  • Argentine rains mostly held to the far north yesterday, chances will build into the heart of the corn and soybean areas early next week. 
  • Brazilian rains fell again north to south over the past 24 hours. Chances remain through the weekend into early next week.