Friday March 28th, 2025

The markets are ending the week in the red.
- Ideally the bears of the market want the May 25 corn contract to close above 4.46 today. The market appears to be preparing for a “high” corn acreage number on Monday.
- Yesterday Soybeans rallied off of positive US/China talks and ideas that the USDA will lowball the acreage number on Monday.
- SRW futures posted fresh lows on the overnight, which seemed to be a result of technical selling. Wheat continues to lead the losses this morning with precipitation chances for the Plains and Black Sea optimism.
Export Sales:
- US corn sales declined last week, net corn sales were reported at 1mmt which is down 31% compared to the previous week. Japan was the largest corn buyer of the week.
- Net soybean sales were near the lower end of pre-report expectations, down 4% from the previous week and 28% from the prior 4-week average. Mexico was the largest buyer of the week.
- Wheat sales were also near the low end of expectations and down 65% from the prior 4 week average.
The USDA released weekly drought monitor data yesterday. Snow fell across eastern Nebraska which helped improve drought conditions. However the remainder of the region experienced dry weather, worsening conditions in South Dakota, Kansas and Oklahoma.
- US Areas Experiencing Drought
  - Corn 44%
  - Soybeans 36%
  - Winter Wheat 38%
  - Spring Wheat 39%