Mark's Market Talk for March 31, 2025

Short report today as the big USDA reports will be released Monday and that will set the course for our markets unless we get into a weather market as we get into planting season. Last week May corn was down 11 cents while Dec corn was down 8 cents. The funds reduced their long positions some more and were down to 75,000 contracts last Tuesday and could be under 50,000 by now. The expected corn acres are driving the cart here as they anticipate lots of acres and good yields. May beans ended the week 13 cents higher while Nov beans were 21 higher. Bean oil was the leader as it suddenly is the go-to oil price wise.  Expected lower planted acres will help if the acre mix comes out as expected. While all eyes are on the expected planting report, there will also be a stocks report that may have an immediate impact on old crop grain. Next week we will have all the numbers, and we will discuss options.