Corn and Soy Prices Surge Higher

Today, March and May grain contracts ended the day higher. March corn closed up 5¾¢ at $5.02 per bushel, marking the first daily close above $5 for the nearby corn contract since October 2023. May corn also saw gains, ending the day up 7¢ at $5.15¾ per bushel.

On the soybean front, March soybeans closed up 2½¢ at $10.38½ per bushel, while May soybeans were up 2¾¢ at $10.55½ per bushel.

CBOT wheat also experienced positive movement, with March up 4¾¢ at $6.04¾ per bushel and May up 4¼¢ at $6.17¾ per bushel. The Kansas City wheat contracts saw similar gains, with March up 6¢ at $6.27¼ per bushel and May up 6½¢ at $6.39¼ per bushel. Minneapolis wheat followed suit, with the March contract up 7½¢ at $6.41 per bushel and May up 6½¢ at $6.55¾ per bushel.

Despite mixed results in the livestock market, with April live cattle lower and March feeder cattle and April lean hogs in the green, the overall market sentiment remained positive. April crude oil was up $1.05 at $71.76 per barrel, indicating a bullish outlook for the energy sector.

Financial markets also showed signs of strength, with March S&P 500 futures and Dow futures up 15 points and 21 points, respectively, signaling investor confidence in the broader economy.

Corn and Soy Start Short Week in the Green: 9:50 a.m. CT

Ahead of 9:30 a.m. CT, May corn was up 2¢ at $5.10¾ per bushel, while May soybeans saw a slight increase, trading at $10.53 per bushel.

May wheat contracts, however, experienced some downward pressure. CBOT wheat was down 3½¢ at $6.10 per bushel, KC wheat was down 4¾¢ at $6.28 per bushel, and Minneapolis wheat was down 1½¢ at $6.47¾ per bushel.

Market analysts attributed the positive momentum in corn and soy prices to President Trump’s reciprocal tariff plan, which aims to boost demand for U.S. products by renegotiating trade agreements with other countries. Traders found comfort in the fact that the tariffs are not immediate and could ultimately benefit U.S. commodities.

Overall, the agriculture and commodity markets are showing resilience and optimism, with key indicators pointing towards a bullish trend in the near term.

Published: 3:37 p.m. CT