Buoyed by Friday’s bullish USDA supply-demand update, corn and soybean futures continued to rise on Monday. Wheat gained as well.
Friday’s report reduced US production for both crops below trade expectations and tightened 2024-25 ending stocks as well.
Trading at the highest in three months, soybean futures were further boosted today by increasingly warm and dry weather for the soybean crop in Argentina. Some showers are expected later this week and into the weekend, although relief is only expected to be temporary. On the other hand, solid Brazil soybean production prospects continue to overhang the market, especially as combines start to nose into fields in the No. 1 production state of Mato Grosso. March beans climbed 27 ¾ cents to $10.53, and November added 20 cents to $10.51.
Corn, which is at its highest in a year, also saw some support from the weather in Argentina. March corn gained 6 cents to $4.76 ½, and December 2025 was up 7 cents at $4.57 ¼.
Wheat rode the coattails of corn and soybeans higher, although some of the upward momentum was blunted by weak export demand for US supplies and the strong American dollar which makes US wheat more expensive for foreign buyers. March Chicago wheat was up 14 ¼ cents at $5.45, March Kansas City was 9 ¼ cents higher at $5.61 and March Minneapolis closed 9 ¼ cents higher at $5.93 ½.
