Friday March 21st, 2025

• Corn and Soybeans are trading down to flat, while wheat is trying to hold flat to positive.
  • Corn ran into technical resistance, grains range-bound ahead of the USDA’s report. 
• Export Sales
  • Corn sales continued their seasonally strong pace this week, seeing 58.9mbu booked, corn sales our now 7% ahead of the needed pace. 
  • Soybean sales were lower then expectations, at 13mbu. China is still the top export destination. 
  • Wheat sales saw cancellations this week as YTD sales are now running just 2% ahead of the needed pace. 
• The nearby May 25 corn contract had a small rally yesterday and gained 7 cents per bushel. Another week of strong exports. 
• Canada and US biofuel companies are cutting down on production due to uncertainty regarding the Trump administration policy on biofuel subsidies and trade.
• Rumors on Twitter noted that Brazil had booked corn imports from the US, there has been no confirmation of this transactions.