Wednesday April 16th, 2025

• Corn and wheat are trading in the green and soybeans are trading flat.
  • The grains traded lower in the overnights to bounce back this morning. 
  • US corn remains competitive on the export market, as Brazil will not have much available until midsummer. 
• The March NOPA soybean crush report came in at 194.6mbu yesterday, up from 177.9mbu in February, but lower than last March (196.4mbu). 
• Flash sale of 110,000mmt of corn sold to Portugal for 24/25 delivery. 
• Chinese soybean imports fell to a 12 year low in March, at just 3.5mmt. March is seen usually as a low import month for soybeans as it is between U.S. shipments and new crop south American shipments. Chinese soybean imports were down 8% compared to last year in the first quarter. Imports for corn and wheat were also down for the first Q1, 72% below last year. 
• Weather Update:
  • Argentina will see rains isolated in the central crop areas through Friday, with a drier extended stretch ahead. 
  • Brazil saw rains again in the north/northeast and rains will hold center north going forward, improving moisture levels for there second crop corn. 
  • Heavier rains to be seen in the corn belt over the weekend.