Monday March 3, 2025

• The market is starting off the week in the red.
  • Corn is continuing lower with the May 2025 contract working on its seventh straight losing session. 
  • Soybeans are leading the way lower with double digit losses.
  • Wheat is following and seems to be unaffected by recent headlines.
• On Feb 28th there was a flash sale of 20,000MT of soybean oil to Unknown for 24/25 delivery.
• Trump met with Ukrainian President Zelenskyy in the Oval Office on Friday, and it didn’t go well… The wheat market didn’t seem to be affected by the headlines and seems to be more interested in the world weather story. 
• The funds trimmed their net long corn position last week and it is likely there was additional fund selling late last week after the CFTC’s reporting period.
  • There has been a lack of fundamental news for the corn market, this is likely contributing to fund selling.
• India had an unseasonably warm February, March forecasts are indicating that the trend may continue. There are some concerns that these temperatures will further reduce the yields of India’s wheat crop.