Friday March 7, 2025

• The markets are back in the red this morning.
  • Some technical resistance was reached yesterday
  • China still fighting with U.S. tariffs 
• Flash Sale: 20,000mt of Soybean Oil sold to unknown destination for 24/25 delivery. 
• Weekly Export Sales
  • Sales for the week have been following seasonal trends. Corn, beans, and wheat all met expectations for the week. 
  • Corn saw 35.8mbu booked, all coming from our typical partners, Japan was the largest purchaser.
  • Soybean sales were on the low end of expectations at 13mbu. China booked more than half of beans sold last week, their YTD purchase pace is well below the past serval years. 
  • Wheat sales remain steady with 12mbu sold. 
• March WASDE estimates can be seen below, report will be released on March 11th at 12pm. 
• US Drought Conditions
  • Data from March 4th, shows that 2025 is drier at this time of the year than any of the last 5 years. Dryness right now is not a cause of concern, concern would come if dryness continues into the longer term. 
  • US Areas experiencing drought
    • Corn 60%
    • Soybean 50%
    • Winter Wheat 24%