Grains and oilseeds are lower on Wednesday following the overnight session. The U.S. dollar is slightly higher following yesterday’s steady trade. Crude oil is steady following Tuesday’s gains.
CORN
March corn traded 2.75 cents higher on Tuesday to close at $4.28 ½ a bushel. Prices recouped their losses from the previous session. Prices seem to be more rangebound this week, which could continue between the January low of $4.17 and last week’s high near $4.35.
President Trump signed the funding bill that ended the partial government shutdown on Tuesday. Most of the government will be funded through the rest of the 2026 fiscal year, which ends on Sept. 30.
The USDA confirmed that private exporters sold 130,480 MT of corn to unknown buyers during the 2025/26 marketing year.
Rainfall in Mato Grosso has been lower than average over the past two weeks. While that may favor Brazil’s soybean harvest, more rain is needed to benefit the incoming Safrinha corn crop.
SOYBEANS
March soybeans traded 5.50 cents higher on Tuesday to close at $10.65 ¾. Futures extended their gains from Monday’s lows, led by higher soybean oil prices.
The U.S. Treasury Department released proposed regulations for the 45Z tax credit this week. Eligibility for the tax credit mirrored earlier proposals of limiting feedstocks to the U.S., Mexico, and Canada, which could bolster domestic demand.
Soybean oil traded near recent highs this week on the news, as well as the announced trade deal with India. No details have been released, but there is an assumption that soybean oil exports could benefit. Domestic inventories climbed year-over-year through the fourth quarter of 2025.
Meanwhile, strong soybean meal demand sent inventories to a six-year low in December, despite record production during the month.
Brazil’s ongoing soybean harvest could continue to cap gains in the soy complex.
WHEAT
March wheat futures were steady on Tuesday, largely pausing their recent selloff after trading just 1 cent higher to $5.28 ¾. Selling did resume overnight into this morning, with prices stretching down to yesterday’s lows around $5.25.
Prices are currently trading a minor support, as the area served as resistance before breaking above it last week.
Weather in the Plains is expected to be mild over the next couple of weeks, along with better chances of precipitation.
Hard red spring wheat stocks in warehouses in Minnesota and Wisconsin are up 24.3 percent year-over-year as of February. Higher stocks have been weighing on spring wheat futures, which failed to gain similar momentum to the winter wheat contracts.
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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.