Thursday April 24th, 2025

• Old crop corn and beans are up, wheat is flat his morning.
  • Soybean futures saw strength yesterday from the optimism over US-China trade tensions, as well as technical buying.  May futures pushed above their 200-day moving average.
  • Corn futures have slipped lately, as forecasts of dry weather across the Corn Belt are expected to speed up planting.
  • Wheat futures also lower, pressured by a slowdown in global wheat tenders and rainfall expected across the US Plains.  HRW wheat futures posted fresh lows overnight.
• Trump is considering lowering tariffs on Chinese imports in an effort to ease trade tensions.
• Weather:
  • Drought, as well as excessive rainfall across China’s key growing regions are impacting crops, see map below for a better visual.
    • The North China Plain and South East China regions are experiencing below average rainfall- significantly affecting the corn and wheat production.  
    • Heavy rainfall in China’s northeastern region is delaying planting of corn and beans.
  •  Theoretically, a massive projected U.S. corn area will get planted in early May, after the Midwest weather pattern flips from wet to dry.
  • Dry weather in the forecast for Argentina over the next week.