Glacier FarmMedia – WHEAT saw double digit gains on Wednesday as weather concerns enter the market, as well as war premiums.
Much of the United States Plains from Nebraska to Texas will be dry over the next week. Meanwhile, soft red winter wheat growing areas in the U.S. will also remain dry with some scattered showers.
Traders are estimating the U.S. exported 300,000 to 550,000 tonnes of wheat during the week ended March 12, with new crop sales up to 50,000 tonnes.
Jordan was tendering for 120,000 tonnes of milling wheat.
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CORN showed their sixth positive session in their last seven.
The U.S. Energy Information Administration reported daily average ethanol production at 1.093 million barrels per day for the week ended March 13, down 33,000 from the previous week. Stocks were up 827,000 barrels at 26.407 million.
The trade forecast U.S. corn export sales last week at a range between 600,000 and 1.8 million tonnes of old crop. New crop sales would be up to 100,000 tonnes.
U.S. President Donald Trump invited biofuel producers and farmers for an event at the White House on March 27. The 2026 and 2027 biofuel blending quotas are expected to be finalized at the end of March.
SOYBEANS made gains for the second straight session, but they paled in comparison to Monday’s losses.
Trump confirmed on Tuesday that his meeting with Chinese President Xi Jinping has been postponed to mid- to late-April due to the ongoing conflict in the Middle East.
The USDA reported a private export sale of 120,000 tonnes of soybeans to unknown destinations for 2026-27 delivery.
Analysts expect the USDA to report 350,000 to 800,000 tonnes of old crop soybeans exported last week, as well as up to 100,000 tonnes of new crop. Soymeal sales are projected at between 150,000 and 350,000 tonnes, while soyoil could see net reductions of 20,000 tonnes or net sales of 22,000 tonnes.
Brazil’s agriculture minister will negotiate soybean safety requirements and inspections for exports to China, said news reports.
