🌾 Grain Futures
Grain markets are lower today, following through on Friday’s sharp selloff — a classic “throw the baby out with the bathwater” move. The selling was driven largely by macro fear surrounding speculation over the next Federal Reserve Chair, despite those concerns likely being overblown. Metals and crude oil were also hit hard, adding pressure to commodities across the board.
Additional headwinds include:
Reduced geopolitical tension as President Trump dials back pressure on Iran
OPEC agreeing to maintain planned oil production increases
Warmer weather reducing near-term demand
Grain prices:
Corn: March down ~3½¢ at 424¾ | May off ~3¢ at 432¾
Wheat:
Chicago March down ~10¾¢ at 527¼
KC March down ~10¼¢ at 534½
Minneapolis March down ~10¢ at 568¼ (May down ~9½¢ at 582)
🌱 Soybeans
Soybeans are holding up better than other grains on a percentage basis due to ongoing weather concerns in southern Argentina.
Dry, hot conditions persist during pod-setting
Promised rains continue to miss forecasts — now heading into a fourth straight
