Date Published: 9:33 a.m. CT

As of 9 a.m. CT, March corn has experienced a decrease of 2½¢, settling at $4.38¼ per bushel. In a broader view, January soybeans also faced a dip, down 9¾¢ at $10.67 per bushel. The market for wheat showed similar declines, with March CBOT wheat down 4½¢ at $5.24¾ per bushel and March Kansas City wheat down 5¢ at $5.13 per bushel. Meanwhile, March Minneapolis wheat fell by 3½¢, now priced at $5.72¼.

Market Influences

Current market analysis suggests that attention remains focused on two key areas: the demand from China for U.S. soybeans and the production situation in Brazil. In addition, ongoing discussions regarding a potential resolution to the Russia-Ukraine conflict are noteworthy, as reported by the Commstock Report.

Recent weather events in Brazil have resulted in widespread rainfall across major production regions, maintaining mostly favorable growing conditions. However, concerns are arising regarding possible harvest delays if heavy rains continue. Forecasts indicate further precipitation in Mato Grosso and Goiás over the next 10 days, contrasted with drier conditions expected in Parana, Sao Paulo, western Mato Grosso do Sul, and parts of Minas Gerais. Any harvest delays for Brazilian soybeans could subsequently affect the planting timeline for safrinha corn.

Export Sales Announcements

This morning, the USDA announced new export sales:

• 150,320 metric tons of corn were sold to unknown destinations for the 2025/2026 marketing year.
• China secured a purchase of 136,000 metric tons of soybeans for the same marketing year.

Livestock and Crude Oil Prices

Shifting to livestock markets, March feeder cattle were reported down 93¢ at $333.15 per hundredweight (cwt), while February live cattle fell by 50¢, settling at $229.05 per cwt. Furthermore, February lean hogs dropped by $1.30, now priced at $83.23 per cwt.

In the energy sector, January crude oil saw a decrease of 53¢, priced at $56.91 per barrel.

Financial Market Overview

The U.S. Dollar Index for March is currently down to 97.82. In contrast, stock market indices reported slight gains, with the S&P 500 Index rising by 9.64 points and the Dow Jones Industrial Average up by 35.80 points.