West Central Ag Grain Comments 03/02/26 8:43:31 AM
3/2/26
- Grain markets are mixed this morning. Corn and soybeans initially surged on last night’s open but have since pulled well off their highs. December ’26 corn reached a high of $4.72 overnight.
- Military action involving Iran has strengthened the energy markets. Crude oil spiked on the open and posted a high of $75.33/barrel, while soybean oil also surged to new contract highs at $64.28. Both markets have since retreated from their highs. The flow of products through the Strait of Hormuz and any Iranian retaliation will be monitored closely.
- CIF bids remain quoted versus the March contract for corn and soybeans. Most processors and terminals have rolled bids to May and have been steady to slightly firmer through the roll.
- Crop insurance spring prices are now finalized at $4.62 for corn and $11.09 for soybeans, compared to $4.70 and $10.54 last year. Premiums are lower this season, helped by provisions included in the One Big Beautiful Bill.
- 10-day weather forecasts have trimmed rainfall totals for parts of the Midwest, though any precipitation remains welcome. Mid-March temperatures are projected to run warmer than average.
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