The United States Department of Agriculture reported 23,500 tonnes of old crop wheat, a marketing-year low, were sold for export during the week ended March 26, down 51 per cent from the week before and well below pre-report trade estimates. Meanwhile, 272,800 tonnes of new crop wheat were sold, near the higher end of trade expectations.

U.S. Census data said 1.94 million tonnes of wheat were exported in February, a six-year high for the month.

CORN prices were lower for the fifth session in their last six.

The USDA reported 1.149 million tonnes of old crop corn were sold for export last week, down eight per cent from the week before but within trade expectations. In addition, 102,600 tonnes of new crop corn were also sold, exceeding trade guesses.

There were 6.77 million tonnes of U.S. corn exported in February, a record high for the month.

The USDA said the February corn grind was at 424.8 million bushels, up 0.7 per cent from last year. Corn used for ethanol so far this marketing year totalled 2.744 billion bushels, down seven million from last year.

Bloomberg reported that China purchased Argentine corn for the first time in 15 years.

StoneX raised its estimate for Brazil’s first corn crop 1.5 per cent to 27.2 million tonnes but trimmed its safrinha corn crop forecast by 0.7 per cent to 106 million. The firm projected Brazil’s overall 2025-26 corn production at 135.7 million tonnes, down 2.9 per cent from the year before.

SOYBEANS were down for the second consecutive day but remained in their trading ranges.

Export sales of old crop U.S. soybeans were 353,300 tonnes last week, within trade estimates and down 49 per cent from the previous week. There were no new crop export sales.

There were 377,200 tonnes of old crop U.S. soymeal sold for export, within trade expectations and down 40 per cent from the week before.

Old crop U.S. soyoil export sales totalled 1,100 tonnes last week, near the lower end of trade expectations and up 53 per cent from the previous week.

A total of 4.195 million tonnes of U.S. soybeans were exported in February, up 34.6 per cent from a year ago. There were also 1.37 million tonnes of soymeal and 71,814 tonnes of soyoil shipped.

The USDA reported 214.2 million bushels of soybeans were crushed in the month of February, up 13 per cent from last year but down six per cent from January. The average daily crush of 7.65 million bushels was an all-time record. The crush for the first half of the marketing year was 1.334 billion bushels, up 8.3 per cent from last year.

StoneX increased its estimate for Brazil’s soybean harvest 1.1 per cent to 179.7 million tonnes. 

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United States President Donald Trump said in a televised address on Wednesday that his country would hit Iran hard over the next two to three weeks, but did not say when he expected the war would end. As a result, crude oil rose between US$7 to US$12 per barrel Thursday afternoon.

An analyst said crude oil’s climb spilled over into vegetable oils, including Chicago soyoil as well as canola. Chicago soyoil gained nearly two U.S. cents per pound, while European rapeseed and Malaysian palm oil were higher.

There will be no trading tomorrow due to the Good Friday holiday.

At mid-afternoon, the Canadian dollar was down more than one-tenth of a U.S. cent compared to Wednesday’s close.

There were 57,301 canola contracts traded on Thursday, compared to Wednesday when 56,844 contracts changed hands. Spreads accounted for 39,832 contracts in today’s trade.

Settlement prices are in Canadian dollars per metric tonne.

May 727.00 up  8.50

Jul 740.00 up  8.20

Nov 733.80 up  8.30

Jan 739.80 up  8.40

Spread trade prices are in Canadian dollars:

May/Jul 12.80 under to 13.30 under 11,665

May/Nov  5.40 under to  7.30 under    822

May/Jan 11.80 under to 12.50 under      9

May/Mar 15.50 under to 17.00 under      4

May/Jul 16.40 under to 17.60 under      1

Jul/Nov  8.00  over to  5.90  over  5,744

Jul/Jan  2.00  over to  0.10  over     17

Jul/Mar  2.40 under to  4.00 under      2

Nov/Jan  5.50 under to  6.30 under  1,384

Jan/Mar  3.70 under to  4.50 under    202

Mar/May  0.70 under to  0.90 under     28

May/Jul  0.10  over                    38

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United States President Donald Trump said in a televised address on Wednesday that Iran will be hit hard by attacks over the next two to three weeks while stopping short of saying when he expected the war would end. As a result, crude oil prices climbed US$5 to US$9 per barrel.

An analyst said rising crude oil was spilling over into Chicago soyoil and, in turn, influencing canola. Chicago soyoil gained more than one U.S. cent per pound, while European rapeseed and Malaysian palm oil were higher.

The Canadian dollar was down more than one-tenth of a U.S. cent compared to Wednesday’s close.

There will be no trading on Friday due to the Good Friday holiday.

About 31,100 canola contracts have traded at 10:02 CDT. Prices in Canadian dollars per metric tonne:

Price          Change

May 726.80     up  8.30

Jul 740.20     up  8.40

Nov 733.50     up  8.00

Jan 739.60     up  8.20

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United States President Donald Trump delivered a televised address on Wednesday, saying U.S. forces could hit Iran hard over the next two to three weeks. He stopped short of saying when he expects the war to end. Crude oil surged between US$8 to US$14 per barrel this morning.

Chicago soyoil gained more than one U.S. cent per pound, while European rapeseed and Malaysian palm oil were also higher.

The Canadian dollar was down more than one-tenth of a U.S. cent compared to Wednesday’s close.

There will be no trading on Friday due to the Good Friday holiday.

Nearly 19,400 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 CDT:

May  729.60  up 11.10

Jul  743.10  up 11.30

Nov  736.20  up 10.70

Jan  741.70  up 10.30

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The National Weather Service is forecasting above-normal precipitation across the entire United States Plains for April 8 to 14, which would alleviate dry conditions in winter wheat growing areas.

Heavy rainfall will move from central Texas to Wisconsin later this week, bringing 40 to 75 millimetres of rain by Saturday. The heaviest rains are expected in Oklahoma, eastern Kansas and western Missouri.

The U.S. Department of Agriculture will release weekly export sales data on Thursday. Traders are expecting 200,000 to 500,000 tonnes of old crop wheat and 100,000 to 300,000 tonnes of new crop to be sold during the week ended March 26.

SOYBEANS lost more than 10 cents per bushel as Chicago soyoil came down after speculation the war in Iran could end sooner than later.

Indonesia announced a plan to expand its biofuel mandate, implementing gasoline consisting of 50 per cent biofuel beginning July 1. While the move would reduce fossil fuel consumption in the country by four billion litres annually, it would reduce the amount of palm oil available to global markets.

Brazil has enlisted bank managers to use satellite imagery to determine if farmers have been illegally deforesting their land. The government argued that on-the-ground efforts have become more difficult and the new form of enforcement would withhold billions of dollars of publicly subsidized credit.

The trade anticipates between 300,000 to 700,000 tonnes of old crop U.S. soybeans and up to 50,000 tonnes of new crop sold for export last week.

CORN prices were lower for the fourth time in its last five sessions.

Counties in central Kansas and southern parts of Missouri, Illinois and Indiana are allowed to plant corn beginning today. Soil temperatures in Kansas City and Indianapolis were at a suitable 13 degrees Celsius.

The trade expects between 900,000 and 1.6 million tonnes of old crop U.S. corn, as well as up to 100,000 tonnes of new crop were sold for export last week.

The U.S. Energy Information Administration reported average daily ethanol production at 1.075 million barrels per day for the week ended March 27, down 41,000 bpd from the previous week. Ethanol stocks fell by 1.179 million barrels at 25.991 million.

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Crude oil lost between US$2 to US$4 per barrel the United States and Iran said there could be an end to the Middle East war in the near future. The news shrunk the risk premiums for crops.

A trader attributed profit-taking, the long weekend and bearish fundamentals for canola’s downturn, adding that lower prices could raise buying interest from China.

Chicago soyoil lost more than one U.S. cent per pound, while European rapeseed and Malaysian palm oil were down.

At mid-afternoon, the Canadian dollar gained one-quarter of a U.S. cent compared to Tuesday’s close.

There were 56,844 canola contracts traded on Wednesday, compared to Tuesday when 62,917 contracts changed hands. Spreads accounted for 30,168 contracts in today’s trade.

Settlement prices are in Canadian dollars per metric tonne.

May 718.50 dn 13.30

Jul 731.80 dn 12.70

Nov 725.50 dn 11.10

Jan 731.40 dn 10.80

Spread trade prices are in Canadian dollars:

May/Jul 12.50 under to 13.30 under  9,157

May/Nov  4.50 under to  8.20 under    374

Jul/Nov  8.20  over to  5.00  over  4,008

Jul/Jan  2.20  over to  0.40  over     36

Nov/Jan  4.80 under to  6.00 under  1,418

Jan/Mar  3.60 under to  4.50 under     64

Mar/May  0.60 under to  1.00 under     18

May/Jul  0.40  over to  0.20 under      9

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Crude oil prices lost more than US$2 per barrel after United States President Donald Trump and Iranian President Masoud Pezeshkian said the end of the war between the two countries was possible. Trump will make a nationally televised address at 8 p.m. CDT tonight.

An analyst said risk premiums for comparable oils and commodities are being “evaporated” due to the renewed optimism in the Middle East. Chicago soyoil dropped more than one U.S. cent per pound, while European rapeseed and Malaysian palm oil were also down.

The Canadian dollar was up one-quarter of a U.S. cent compared to Tuesday’s close.

About 35,400 canola contracts have traded at 10:05 CDT. Prices in Canadian dollars per metric tonne:

Price          Change

May 720.80     dn 11.00

Jul 734.00     dn 10.50

Nov 727.50     dn  9.10

Jan 733.10     dn  9.10

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United States President Donald Trump and Iranian President Masoud Pezeshkian made comments suggesting the end of the war between the two countries could be near. As a result, crude oil prices dropped between US$1 to US$3 per barrel.

Chicago soyoil was down more than one U.S. cent per pound, while European rapeseed and Malaysian palm oil also showed declines.

The loonie was up one-quarter of a U.S. cent compared to Tuesday’s close.

Nearly 17,600 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CDT:

May  722.40  dn  9.40

Jul  735.00  dn  9.50

Nov  728.40  dn  8.20

Jan  733.90  dn  8.30

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SOYBEANS on the Chicago Board of Trade gained more than 10 cents per bushel after the USDA estimated fewer planted acres than expected.

Projected soybean plantings for 2026 came to 84.7 million acres, slightly lower than the trade’s pre-report estimate of 85.55 million acres, but an increase of 3.48 million acres from last year.

Soybean stocks as of March 1 were 2.104 billion bushels, an increase of 195 million from last year and up 37 million from the trade’s pre-report estimate.

WHEAT futures were supported by incoming dry weather and fewer projected acres.

U.S. all wheat planting intentions for 2026 were 43.78 million acres, 1.01 million below the trade’s estimate and 1.554 million less than last year.

U.S. wheat stocks as of March 1 totalled 1.30 billion bushels, down 10 million under the trade guess but up 63 million from one year ago.

The Kansas state crop progress report showed winter wheat conditions at 40 per cent good to excellent, down six points from the previous week. The USDA’s first crop progress report will be released on Monday.

Romania’s ag ministry reported its wheat harvest at a record 12.69 million tonnes.

Tunisia tendered for 100,000 tonnes of soft milling wheat.

CORN made modest gains on Tuesday and halted a three-session downturn in the process.

U.S. planting intentions for 2026 totalled 95.34 million tonnes, 970,000 tonnes above the trade’s estimate but 3.43 million lower than last year.

U.S. corn stocks as of March 1 were 9.02 billion bushels, 84 million below the trade guess, but an increase of 873 million bushels from last year’s total.

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Crude oil prices declined late in trading after an unconfirmed media report said Iranian President Masoud Pezeshkian was open to ending the Middle East war provided there are guarantees. Crude oil lost between US$1 to US$3 per barrel by the afternoon.

Chicago soyoil, European rapeseed and Malaysian palm oil were higher.

An analyst said that canola is leaning bullish, according to the technicals for Chicago soyoil. Another analyst said he’s monitoring any demand disruption for vegetable oils, especially for the Asian markets. He said there’s the potential for a lack of diesel along with the possibility of fuel becoming too expensive.

Statistics Canada reported canola deliveries for February 2026 at 2.021 million tonnes, compared to 1.615 million one year earlier.

StatCan also reported that 951,353 tonnes of canola were crushed last month, up from 882,610 tonnes in February 2025.

At mid-afternoon, the Canadian dollar was down more than one-tenth of a United States cent compared to Monday’s close.

There were 62,917 canola contracts traded on Tuesday, compared to Monday when 65,983 contracts changed hands. Spreads accounted for 42,406 contracts in today’s trade.

Settlement prices are in Canadian dollars per metric tonne.

May 731.80 up  4.10

Jul 744.50 up  4.00

Nov 736.60 up  2.80

Jan 742.20 up  2.10

Spread trade prices are in Canadian dollars:

May/Jul 12.40 under to 13.30 under 11,670

May/Nov  4.70 under to  7.60 under    893

May/Jan 10.40 under to 11.10 under      1

Jul/Nov  8.20  over to  5.40  over  5,602

Jul/Jan  2.50  over to  1.50  over     23

Jul/Mar  2.00 under to  2.30 under      2

Jul/Jul  2.40 under to  4.30 under    101

Nov/Jan  5.10 under to  6.20 under  2,116

Jan/Mar  3.90 under to  4.60 under    419

Mar/May  0.40 under to  1.50 under    177

Mar/Jul  0.50 under to  2.10 under     23

May/Jul  0.50  over to  0.70 under    146

Jul/Nov 39.70  over to 37.00  over     30

To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/

Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends, and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos

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