West Central Ag Grain Comments 04/02/26 9:34:45 AM
4/03/26
- Good morning — grain markets are higher to start the day, with corn up around a nickel while soybeans and wheat are also posting gains. Corn spreads are mixed, with CK/CN trading within a tight ½-cent range overnight and sitting at -11 at the open. SK/SN is unchanged at -16, still offering roughly 8¢/month and about 59% of full carry.
- In his address yesterday, President Trump indicated the U.S. could take significant action against Iran within the next 2–3 weeks. Energy markets reacted sharply, with May WTI crude oil up $11 and trading above $110/barrel. The situation will remain a key market focus, especially with the long weekend ahead.
- Basis levels were slightly firmer yesterday as the market rolled into April. CIF soybeans are bid +86K for late May, while CIF corn is at +88K for April. Soybean processors also strengthened bids, supported by nearby crush margins holding above $2.50/bushel.
- Weekly Export Sales came in at 45.3 million bushels of corn, 13 million bushels of soybeans, and 4.4 million bushels of sorghum for the week ending March 26.
Reminder: Grain markets will be closed tomorrow in observance of Good Friday. Have a great Easter weekend
|
|
