Glacier FarmMedia – CORN posted gains for the third straight session and the sixth time in seven sessions on the Chicago Board of Trade on Thursday.
The United States Department of Agriculture reported old crop corn export sales at 1.172 million tonnes for the week ended March 12, down 332,000 from the previous week. There were also 12,000 tonnes of new crop sales, compared to 500 the week before.
The International Grains Council raised projected 2025-26 worldwide corn ending stocks by one million tonnes from the February estimate at 306 million. Carryout for 2026-27 was pegged at 294 million tonnes.
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A survey by Allendale projected U.S. corn acreage this spring at 93.68 million acres, down 5.12 million from last year.
SOYBEANS made gains for the third straight day.
U.S. old crop export sales totalled 298,200 tonnes last week, below trade expectations and 158,270 below the previous week’s total. There were also 6,600 tonnes of new crop soybeans sold for export, compared to 9,518 the previous week.
Old crop soymeal export sales were 220,900 tonnes, along with 1,400 tonnes of new crop. In addition, 5,200 tonnes of old crop soyoil were also sold.
IGC projected 2025-26 worldwide soybean ending stocks at 78 million tonnes, down one million from the February estimate. Carryout for 2026-27 was raised one million tonnes at 79 million.
Abiove estimated the upcoming Brazilian soybean crop at 177.85 million tonnes, 730,000 tonnes more than in its previous estimate.
Allendale also estimated 85.66 million acres of soybeans planted this spring, up 4.46 million from last year.
Minneapolis spring WHEAT saw the biggest gains compared to the two other major U.S. varieties on Thursday.
U.S. weekly export sales for old crop wheat were 189,000 tonnes, below trade estimates and down from 455,439 tonnes the previous week. Export sales for new crop wheat totalled 212,100 tonnes, well above trade estimates.
The IGC lifted the projected global old crop wheat stocks by one million tonnes at 283 million. For new crop, carryout was trimmed by six million tonnes at 276 million.
SovEcon raised its 2026 Russian wheat production forecast by 1.7 million tonnes at 87.6 million.
Taiwan purchased 105,025 tonnes of wheat in an overnight tender.
Allendale projected 44.88 million acres of wheat planted in the U.S. this year, down 423,000 acres from last year. Spring wheat acreage was estimated at 9.68 million acres while durum acres totalled 2.11 million.
