Grain Marketing Specialist
Corn Unchanged as of 7:45
March corn closed 6 1/4 cents higher and new-crop December finished 3 3/4 cents higher on the week last week. March corn was slightly higher early this morning with a return of bitter cold temperatures in the northwestern Plains that is expected to move across the northern states this week. In South America, northeastern Brazil may receive some beneficial rain Tuesday, but the seven-day forecast remains mostly dry with increased rain chances in southern Brazil and central Argentina.
Beans Down 3 as of 7:45
March soybeans were 6 1/2 cents higher and new-crop November beans were 8 cents higher on the week. Increased chances for rain in southern Brazil and central Argentina this week help those areas while central Brazil's crop areas are expected to only see a light amount of moisture.
Wheat Minneapolis & Kansas City both Unchanged as of 7:45
March Kansas City WW finished 12 1/4 cents higher, and March Minneapolis SW ended 7 1/4 cents higher last week. This week's colder temperatures will reach into the southwestern Plains, but the bigger threat for the area may be that the seven-day forecast is still mostly dry as we make our way through winter.