BASIC & RECENT MARKET INFO

Tidbits Flash Sale: Yesterday, the USDA announced the sale of 115,000 mts of new crop corn to Colombia. Biofuel: The American Fuel & Petrochemical Manufacturers (AFPM) filed a lawsuit Friday in the D.C. Circuit court challenging the 2026-2027 Renewable Fuel Standard (RFS) volumes finalized by the EPA in March. The AFPM claims EPA’s “Set 2 rule” is the largest and most expensive RFS iteration in history and is the single most expensive regulation of President Trump’s second te

Tidbits Market Comment: It is normal for the price of corn to decline when the market comes to the conclusion that the crop is going to get planted and off to a good start. Monday’s Crop Progress Report assured the market the corn crop is, in fact, off to a good start and remaining acres will easily be planted before the insurance date. Better yet, widespread rain in most of the Corn Belt on the newly planted corn was predicted and falling the past three days in many Corn Bel

Tidbits The USDA will release its May S&D at 11 AM Central today, which will include the first of 36 monthly estimates for the 2026/27 crops. Flash Sale: Yesterday morning, the USDA announced the sale of 220,000 mts of old crop corn, 160,000 mts of new crop corn to Mexico and 128,000 mts of old crop to South Korea. China’s annual inflation accelerated to 1.2% in April 2026 from 1% in the previous month, exceeding market expectations of 0.8%. President Trump will arrive in Chi

Tidbits Fuel: The Department of Treasury has scheduled a public hearing for 27 May on the 45Z Clean Fuel Production Credit. The proposed rule defines eligibility, emissions rates, and certification requirements. California’s year-end data has just been released. Sustainable Aviation Fuel (SAF) consumption reached 119.5 million gallons in 2025. U.S. Economy: Yesterday, the S&P 500 rose nearly 1% and the Nasdaq Composite gained 1.7% as both indexes made new highs. The Dow J

Tidbits The U.S. and Iran launched new attacks yesterday as they fought for control of the Strait of Hormuz. Several merchant ships in the Persian Gulf reported explosions or fires. The U.S. said it had destroyed six small Iranian military boats. Iran attacked and set ablaze a large U.S. military base and oil port in the United Arab Emirates. Crude oil futures were up $4.48 yesterday. U.S. and China tensions took a turn for the worse over the weekend as Bloomberg reported tha

Tidbits The weather forecast is predicting limited rainfall through next week for Western Kansas, Eastern Colorado, and Nebraska with no rain in the Texas and Oklahoma Panhandles. The update to the Drought Monitor yesterday morning shows 70% of the U.S. winter wheat crop in drought. That is the largest since 2023 and the largest drought area for this time of the growing season since 2022. Total global grains production is expected to set a record during this marketing season,

Tidbits Planting Intentions and Quarterly Stocks reports will be released by the USDA today at 11 AM Central. Here is the May futures price change on the reports release days in previous years:

Tidbits The Federal Reserve left the fed funds rate unchanged yesterday afternoon, as was expected. Flash sale: Yesterday, the USDA announced the sale of 120,000 mts of new crop soybean meal to unknown. Oil exports through Saudi Arabia's Yanbu port on ‌the Red Sea are projected to reach a high of 3.8 million barrels per day this month. Average loadings from that port rose to 2.6 million bpd so far in March, up from 1.4 ​million bpd in February and 1.3 million bpd in January.

Tidbits 8 ships passed through the Strait of Hormuz on Tuesday, 5 more than the previous day, as S&P Global reported. Two of the ships were sanctioned vessels loaded with Iranian natural gas. Iran's new leader made his first statements, calling for national unity and stating that the Strait of Hormuz must remain closed. Brazilian soybeans were having trouble getting phyto-sanitary certificates, as we mentioned yesterday. Cargill announced later yesterday it had suspended soyb

Tidbits Crude Oil: Two tankers carrying Iraqi fuel oil were attacked within the territorial waters of Iraq last evening, causing both to catch fire in the Persian Gulf. A total of 25 crew members onboard the vessels have been evacuated so far by authorities in Iraq. Despite Donald Trump's statements, the U.S. refuses to escort civilian ships through the Strait of Hormuz, citing the high risk of attacks, Reuters reports. The International Energy Agency (IEA) approved yesterday

Tidbits S&D: As expected, the USDA did not make any significant changes to the U.S. balance sheets, as ending stocks of corn, soybeans, and wheat remained unchanged. Corn global inventories rose nearly 3 million mts; production rose 1.7 million mts in Ukraine and 1 million mts in Brazil, while down 1 million mts in Argentina. The average U.S. Farm price for 2025/26 at $4.10 and for 2026/27 it was pegged at $4.20 in February.

Tidbits The USDA will issue its March S&D at 11 AM Central time today. There were new contract highs in the soy complex and also in a few deferred corn futures months amid crude oil spikes. AgRural reports Brazil’s first corn harvest hit 42%, lagging the 54% seen a year earlier. Planting of Brazil's second corn crop reached 82%, compared with 92% a year earlier. While corn plantings in Mato Grosso have reached 94%, just shy of the 96% pace from a year ago. Brazilian farmers h

Tidbits Flash Sale: Yesterday morning, the USDA announced the sale of 154,000 mts of new crop corn and 24,000 mts of 2027 crop corn to Japan. Soybean Demand & Oil: Weekly Export Sales reported 407,100 mts of soybeans were booked for export this marketing year which ends 31 August. Soybean sales were down 49% from a week ago and down 30% from the 4-week average. China bought 75,500 mts, but 66,000 mts was switched from an unknown buyer to China. So, China only bought 9,500 mts

Tidbits Canada's wheat exports for this marketing year to date reached a record 11.25 million mts, up 1.19 million mts from last year’s record pace. Soybeans: Friday’s Commodity Futures Trading Commission’s (CFTC) Commitment of Traders (COT) Report, which is issued every Friday, and we report the numbers on Sundays as part of our Weekly Basis, showed the big spec funds were net buyers of 94,316 of soybean contracts for the week ending last Tuesday. Peak Trading Research r

Tidbits Flash sale: Yesterday morning the USDA announced the sale of 192,350 mts of old crop soybeans to unknown. Biofuel: Republican U.S. lawmakers plan to create a task force to study potential year-round sales of higher-ethanol E15 gasoline blends in the U.S., after an attempt to pass such legislation in a funding bill this week fell through. Farm groups and Midwest ethanol advocates blasted the decision to form a task force instead of passing legislation, calling it a blo

Tidbits Ag Futures will not trade Sunday night to Monday afternoon morning due to Martin Luther King Jr. Day. Grain futures will reopen Monday evening at normal times. Exports: Yesterday morning, the USDA announced the sale of 136,000 mts of old crop corn to South Korea and 334,000 mts of old crop soybeans to China. Chinese customs data showed they imported 8.044 million mts of beans from all sources in December 2025, up 1.2% from December 2024. Total imports in 2025 at 111.8

Tidbits Trade talks: Trump's special trade representative, John Cole, who was in Minsk in recent days for trade talks with Belarus’ officials, announced yesterday that the U.S. is lifting sanctions on Belarusian potash. Belarus is the world’s third leading potash exporter behind Canada and Russia. Export sales: As we reported yesterday, on Friday morning, the USDA announced the sale of: 132,000 mts of old crop soybeans to China 93,895 mts of old crop soybean meal to Mexic

Tidbits President Donald Trump said on Saturday that the airspace above and surrounding Venezuela should be considered "closed in its entirety." He gave no further details as the U.S. ramps up pressure on President Nicolas Maduro's government. Ukrainian President Volodymyr Zelenskiy said yesterday that a delegation headed by security council secretary Rustem Umerov was on its way to the U.S. to continue talks on an agreement to end the war with Russia. Umerov has been put i

Tidbits Harvest report from Northeast Illinois farmer: "I can verify yield difference on beans: beans planted early April were 25 bushels more than beans planted 3rd week in May." U.S. weather: Last evening’s 6 to 10 day forecast predicts the hot weather will continue for the Midwest and Eastern U.S. with a chance for rain in the Western Corn Belt. Brazil weather from AgrInvest Commodities: "After September's rains, the atmosphere is clearing up again in the Center-Nort

Tidbits Basis Bids: On Thursday, St. Louis basis changes were: Soybean -12X (12¢ under November futures), was 10¢, the strongest level since August 13th. Corn 8¢ firmer to 4 over the December futures price. Soft Red Winter wheat was up 16¢ at -17Z (17¢ under December futures price). The Lower Mississippi is expected to drop below 8 feet by next Friday. President Trump and Chinese President Xi are scheduled to meet on 31 October. Crude oil: With crude oil refinery runs red