SOYBEAN futures at the Chicago Board of Trade failed to finish positive amid hikes in crude oil on Tuesday.
AgMarket.net projected United States farmers to plant 86.10 million acres of soybeans this spring, compared to the U.S. Department of Agriculture’s current estimate of 81.20 million in 2025/26. The department is set to release its prospective plantings report on March 31.
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U.S. President Donald Trump is scheduled to announce the new biofuel blending volumes on Friday. The war with Iran reportedly will not affect the proposed volumes provided by the Environmental Protection Agency.
Brazil’s soybean exports so far in March are 633,400 tonnes, down nearly 18 per cent from all of March 2025. Exporter group ANEC said the decline is due to difficultly getting phytosanitary certificates from China and the increased risk shipping to the Persian Gulf region.
CORN futures were closed higher on Tuesday, due to spillover from crude oil.
AgMarket predicted U.S. corn acres at 94.40 million, down from 98.80 million a year ago as urea prices have climbed sharply because of the Middle East war.
The USDA reported that corn planting is underway, with Texas leading with 46 per cent complete, with Mississippi at 26 per cent and Arkansas at nine per cent. The nationwide crop progress reports are scheduled to resume on April 6.
Russia has halted ammonium nitrate exports until April 21, as a means to preserve domestic supply. Russia controls about 40 per cent of the world’s ammonium nitrate supply.
The French government has taken steps to assist its farmers who are struggling to cope with hikes in fertilizer and fuel prices. The measures include delayed payments of social contributions and short-term loans.
WHEAT futures were also higher on Tuesday, in sympathy with corn.
In the USDA’s state winter wheat ratings, Kansas fell six points at 46 per cent good to excellent, Colorado was down five points at 24 per cent, Texas nudged up one point at 16 per cent, and Oklahoma lost four points at 14 per cent.
While the weather forecast for the U.S. Southern Plains called for dryness in the short term with conditions turning wetter later on.
APK-Inform placed Ukrainian wheat exports for 2025/26 at 9.60 million tonnes so far, with an expected 14.50 million this year. Also, the consultancy forecast Ukraine’s 2026/27 wheat crop to slip three million tonnes at 20 million and for exports to recede by 500,000 tonnes at 14 million.
