Wheat
Tomm Pfitzenmaier, Summit Commodity Brokerage, says grains saw risk off selling and positioning ahead of President Trump’s Liberation Day announcement on tariffs. However, Mexico’s president says they don’t want a tit for tat trade war.
Randy Martinson, Martinson Ag, says grains are not seeing follow through buying after the strong closes on Tuesday as the market is trading tariff fears.
Tommy Grisafi, Nesvick Trading, says grain futures saw risk on buying as traders were adding weather premium but biofuels news was also supportive.
DuWayne Bosse of Bolt Marketing says the grain markets are still digesting the USDA report data but are looking ahead now at weather and the impact of “Liberation Day.”
Darren Frye with Water Street Solutions says the USDA Prospective Plantings and Quarterly Stocks Reports usually generate plenty of fireworks but the reaction was rather benign.
Ford began phasing out its flex fuel engine options starting with 2024 model year F Series trucks. Missouri farmers are asking the auto giant to reverse that decision and get back on board with ethanol.
USDA’s March Prospective Plantings report estimates U.S. farmers will plant 95.3 million acres of corn in 2025, 83.5 million acres of soybeans and 45.4 million acres of wheat.
Brad Kooima of Kooima Kooima Varilek says the cattle are seeing pressure on end of quarter profit taking by the funds who are still long in the market. Grains are mixed ahead of the big USDA reports.
Randy Martinson, Martinson Ag, says he expects more corn in the Dakotas and Minnesota but at the expense of more spring wheat than soybeans.
Kent Beadle, Paradigm Futures expects high volatility at the end of the month and recommends farmers get some sort of risk management strategy in place to at least put a flood under grain prices.