Chicago crop futures rebounded on Monday after posting losses across the board to end last week.
Corn, wheat, and soybean futures were all pressured lower on Friday amid a disappointing weekly export sales report from the USDA. However, the markets bounced today as traders were reportedly looking ahead to Friday’s world supply-demand report, which may contain some surprises. The January report contains the USDA’s final supply estimates for the previous growing season.
Soybeans were further underpinned by media reports that US President-elect Donald Trump’s tariff plans may be more targeted than originally expected. However, Trump himself denied the reports on his social media platform, helping to take soybeans off their highs. Receding fears of a full-blown drought in Argentina also limited soybean gains. March beans gained a nickel to $10.08 ¾, and November was up 4 ¾ cents at $10.13.
Short covering also helped to boost wheat futures on the day. There was a significant winter storm across the southern and central US winter wheat areas over the weekend. Temperatures are turning colder, but snow from the weekend – and more coming Thursday – is helping to keep crops protected. March Chicago wheat was up 11 ¼ cents at $5.40 ½, March Kansas City gained 14 ¼ cents to $5.53 ¼, and March Minneapolis added 14 ½ cents to $5.92 ¼.
March corn was 7 cents higher at $4.57 ¾, and December 2025 was up 4 ¾ cents at $4.45 ½.
