Grains in the Green | Thursday, March 13, 2025

Ahead of 9 a.m. CT, May corn was up 6¾¢ at $4.67½ per bushel.

May soybeans were up 13¾¢ at $10.14¼ per bushel.

May wheat contracts were also higher. CBOT wheat was up 11¢ at $5.65 per bushel. KC wheat was up 14¾¢ at $5.87¾. Minneapolis wheat was up 9¾¢ at $6.04¼.

“Grain markets are higher today after yesterday’s sell off and on news that Argentina pegs their corn and bean production numbers less than USDA…” said Noami Blohm, senior market advisor at Total Farm Marketing, just before the overnight session ended.  

“Soybean output is expected to reach 46.5 million metric tons (mmt), one million less than predicted last month (vs. USDA at 49 mmt). Argentina corn output is seen at 44.5 million metric tons, 1.5 million less than previously expected (vs. USDA at 50 mmt).”

This morning, USDA released the weekly Export Sales report, covering the week that ended Thursday, March 6.

“This morning’s export sales came in with corn at the higher [end of the range] of expectations,” said Angie Setzer, partner at Consus Ag Consulting. “Corn exports are still running 407 million bushels ahead of last year’s pace at this time, with the USDA projecting a 158-million-bushel increase.

“Soybean sales came in above pre-report expectations and were relatively large for a week in March. China was in as the biggest buyer, with Indonesia and the Netherlands right behind them. Year-to-date, soybean sales are currently running 187 million bushels ahead of a year ago, with the USDA forecasting a 130-million-bushel increase.

“Wheat sales for the week were huge, coming in 84% larger than the prior four-week average and above pre-report estimates. Panama, South Korea, and unknown were in as the big wheat buyers for the week. Wheat sales are now running 69 million bushels ahead of last year, with the USDA expecting a 128-million-bushel increase year-over-year.”

April live cattle were up 5¢ at $201.45 per hundredweight (cwt) ahead of 9 a.m. CT. April feeder cattle were up 13¢ at $280.85 per cwt. April lean hogs were down 73¢ at $85.78 per cwt.

April crude oil was down 54¢ at $67.14 per barrel.

The U.S. Dollar Index March contract was up to 103.90.

March S&P 500 futures were down 24 points. March Dow futures were down 118 points.

Published: 9:11 a.m. CT