The corn and soybean markets are showing some renewed strength, driven by a combination of weather concerns and positioning ahead of key reports. Traders are keeping a close eye on U.S. weather patterns, which remain a critical factor. While parts of the Corn Belt have seen beneficial rain, forecasts are mixed and any prolonged heat could shift market momentum quickly. Looking ahead, the market will be focused on updated crop conditions, export demand, and acreage adjustments—particularly as we approach USDA’s next round of reports.
U.S. demand appears to be holding up reasonably well, though not without challenges. Export sales have been steady, and domestic use remains solid, but global competition continues to keep buyers cautious. South America remains a wildcard. While Brazil’s second corn crop is progressing, dry pockets and logistical issues still raise questions about export reliability. Argentina’s crop has fared better recently, but the region’s overall production outlook could influence global balance sheets in the weeks to come.
Jeff Peterson with Heartland Farm Partners gives the days Market Wrap Up
