Tuesday April 29th, 2025

• Grains are in the red this morning.
  • Wheat slipped on Monday with more rainfall in the forecast across the Plains.
  • Corn and soybean planting is ahead of schedule in the US.  Corn planting is 24% complete and beans are 18%.
  • December corn gapped lower on the Monday night open. 
• US winter wheat ratings jumped up to 49% G/E, exceeding analysts’ expectations of 47%, see chart below. 
• Export Inspections:
  • Corn shipments were strong seeing 65.1MBU shipped, sitting near the upper end of pre-report expectations.  YTD shipments are now 8% ahead of the pace needed to hit the USDA target.
  • Soybean shipments met the trade expectations at 16.1MBU, YTD shipments are now 4% ahead of the USDA expectations.
  • Wheat shipments surged, surpassing expectations for the second consecutive week, 23.8MBU on the week.  This pushes YTD shipments on par with the USDA target.
• The Trump administration will allow nationwide sales E15 gasoline this summer.