US and European wheat futures declined on Friday March 14, with market participants saying that recent gains were overdone given the supply and demand fundamentals, particularly amid concerns about the effect of US tariffs on global trade flows.

Russia’s agricultural sector is steadily entering into the spring fieldwork phase, with the sowing of cereal and leguminous crops already under way in 20 regions, according to reports by Agriculture Minister Oksana Lut during a Federation Council session on Thursday March 13.

Soybean futures ended the week in positive territory on the Chicago Mercantile Exchange, following lower output estimates for Argentina, with support from external markets and soyoil gains. Market participants are also adjusting positions ahead of the USDA’s forecast for new crop soybean area in the US, due late in March.

Vegoils markets traded in positive territory on Friday March 14. Crude palm oil (CPO) futures rose for the second day, as continued weakness in the ringgit and gains in related Chinese vegetable oil futures provided support. Meanwhile, soyoil futures also traded higher on the Chicago Mercantile Exchange amid bargain buying and product-spreading dynamics with soymeal.

US and European wheat futures advanced on Thursday, March 13, with the Kansas contract extending gains over Chicago amid concerns that dry, windy weather could further stress winter wheat crops in the southern Great Plains.

US corn futures rose on Thursday March 13 driven by active global demand and technical buying after Wednesday’s double-digit declines.

Soybean futures on the Chicago Mercantile Exchange were up on Thursday March 13 as Argentina’s soybean crop estimates were cut by 1 million tonnes and US sales landed above estimates. Gains were limited by an increase in Brazil’s soybean output forecast in food agency Conab’s latest report.

The vegoils markets moved in opposite directions on Thursday March 13. In Asia, crude palm oil (CPO) futures rose, shedding three days of losses to recover due to gains in related vegetable oil futures and bargain buying, as well as a weaker ringgit. Soyoil fell on the Chicago Mercantile Exchange, driven down by product spreading, crude oil losses and lower US soyoil shipments.

US wheat futures edged lower on Wednesday March 12 when market participants attempted to weigh the effects of a raft of retaliatory actions taken after US President Donald Trump levied import tariffs on goods from the EU, China and Canada.

Global futures trended down on Wednesday March 12, as market participants reacted to the European Union's newly announced countermeasures on agricultural and industrial goods, sparking concerns over potential disruptions in agricultural trade flows.

Soybean futures on the Chicago Mercantile Exchange were down for the fourth consecutive session on Wednesday March 12 amid concerns over the effect of EU retaliatory tariffs on US agricultural exports and with pressure from lower soybean product futures.

The vegoils markets moved in mixed directions on Wednesday March 12, as crude palm oil (CPO) reversed a two-day losing streak and stayed rangebound while soyoil futures traded lower for the third session in a row on the Chicago Mercantile Exchange amid trade war uncertainties and prospects of weaker US demand.

US and European wheat futures declined on Tuesday March 11 after the USDA boosted its estimates for global wheat ending stocks and production for the 2024/25 marketing year in the March edition of the World Agricultural Supply and Demand Estimates report.

Global futures trended higher on Tuesday, March 11 amid overall steady corn projections.

Soybean futures went slightly up on the Chicago Mercantile Exchange on Tuesday March 11, after two consecutive sessions of losses following lower-than-expected global soybean ending stocks in the USDA’s World Agricultural Supply and Demand Estimates report.

Crude palm oil (CPO) futures fell for the second consecutive day on Tuesday March 11, tracking weakness in related vegoils and a firmer Malaysian ringgit, while soyoil futures had erased earlier gains on the Chicago Mercantile Exchange at the time of publication, after the US Department of Agriculture cut its estimates for domestic soyoil usage for biofuels.

US and European futures climbed on Monday March 10 as market participants positioned ahead of the release of the USDA’s influential World Agricultural Supply and Demand Estimates report on Tuesday March 11 and on concerns about crop health amid dry conditions in some North American growing regions.

Corn futures edged higher on Monday March 10, as traders positioned ahead of the USDA’s upcoming World Agricultural Supply and Demand Estimates report, which is expected to show lower US ending stocks and stronger exports.

Soybean futures on the Chicago Mercantile Exchange fell on Monday March 10, as market participants positioned ahead of the USDA’s World Agricultural Supply and Demand Estimates report and amid pressure from lower prices for soybean products and crude oil.

Vegoils markets traded in opposite directions on Monday March 10. Crude palm oil (CPO) declined, mainly due to February data released by the Malaysian Palm Oil Board (MPOB), which came outside of market expectations, and a stronger ringgit. Soyoil futures fell as well, with additional pressure from crude oil losses and profit taking after three sessions of increases. However, Chinese vegetable oil futures started the week up, especially rapeseed oil.

US and European wheat futures edged lower on Friday March 7 after US President Donald Trump paused all tariffs that fall under the USMCA trade agreement with Mexico and Canada until April, while pushing back on additional tariffs on US goods.

Global corn futures edged higher on Friday March 7, driven by steady demand and improved market sentiment regarding ongoing trade tensions.

Soybean futures slipped on the Chicago Mercantile Exchange on Friday March 7, after two days of increases, pressured by products despite support from external markets, as market participants monitor the next steps in US tariffs negotiations and the following week’s USDA supply and demand report.

Vegoils markets extended gains from the previous two sessions on Friday March 7. In Asia, crude palm oil (CPO) futures rose for the third consecutive day, recovering from losses earlier in the week from support due to a mix of stronger related vegoils, pre-weekend positioning and bullish supply sentiment. Soyoil futures on the Chicago Mercantile Exchange also rose for the third day in a row with support from stronger crude oil prices.

US wheat futures climbed across all major contracts on Thursday March 6, driven by higher weekly net sales and active international trade, including South Korea’s purchase of US-origin wheat.

US corn futures climbed on Thursday March 6, supported by strong export sales and easing trade tensions after US President Donald Trump announced a temporary pause on tariffs for Mexican goods under the US-Mexico-Canada Agreement (USMCA).

Soybean futures posted a double-digit gain on the Chicago Mercantile Exchange on Thursday March 6 on the back of stronger soymeal prices as the market followed the US President’s decision to postpone the implementation of tariffs on Mexico to April 2.

Vegoils markets rose again on Thursday March 6. In Asia, crude palm oil (CPO) futures extended gains, tracking increases in related oils and crude oil futures, despite overall cautious sentiment amid ongoing developments between the US and its trading partners. Soyoil futures on the Chicago Mercantile Exchange also rose following strong US export sales.