Grain Market Commentary 3/30/26
CBOT:
Corn settled 6–7 cents lower across the board. The May26 and Jul26 contracts each lost 6.75 cents, closing at $4.5575 and $4.675, respectively. The Sep26 contract lost 7.0 cents, settling at $4.7025. Dec26 futures closed 7.0 cents lower at $4.7025 and $4.84.
Soybeans posted losses of 0-3 cents. May26 futures closed at $11.5975, losing 1/2 of a cent. The Jul26 contract lost 1.25 cents to close at $11.75. The Nov26 contract lost 1.0 cent, closing at $11.44.
Market Headlines:
President Trump issues another warning to Iran:
President Trump on Monday warned Iran to open the Strait of Hormuz or risk US strikes on its energy infrastructure. The President posted on social media saying that “Great progress has been made but, if for any reason a deal is not shortly reached, which it probably will be, and if the Hormuz Strait is not immediately ‘Open for Business,’ we will conclude our lovely ‘stay’ in Iran by blowing up and completely obliterating all of their Electric Generating Plants, Oil Wells and Kharg Island.”
The US Senate Banking Committee is planning to hold Kevin Warsh’s Federal Reserve nomination hearing as soon as April 13:
The Senate Banking Committee is planning to hold a confirmation hearing for Kevin Warsh’s Federal Reserve chair nomination as soon as April 13. The hearing has been delayed after Senators Tillis and Warren raised concerns that advancing a new chair while the current chair faces a politically charged criminal investigation could set a troubling precedent for Fed independence. Markets are watching the nomination closely for clearer signals on the future direction of US monetary policy.
Weekly Export Inspections:
(week ended 3.26.26)
US corn export inspections for the week came in at 70.45 million bushels, well above market expectations of 47.24–64.96 million bushels. The figure topped the prior week’s 66.93 million bushels and ran 4.14% ahead of the 67.65 million bushels inspected during the same week last year. Over the last four weeks, inspections averaged 65.78 million bushels per week, compared to 67.00 million bushels per week during the same period last year.
Cumulative corn export inspections now stand at 1.826 billion bushels, 36.17% above the prior year’s same-week total of 1.341 billion bushels. The year-over-year advantage continues to narrow from earlier in the marketing year, as the prior year saw a pickup in export inspections from February through June. Top destinations were Mexico, Japan, and South Korea.
US soybean export inspections came in at 21.53 million bushels, just below market expectations of 22.05–45.93 million bushels. The figure fell from the prior week’s 40.96 million bushels. Over the last four weeks, inspections averaged 33.41 million bushels per week, supported by China’s delayed US soybean purchase window this marketing year.
Cumulative soybean export inspections now stand at 1.099 billion bushels, trailing last year’s same-week total of 1.498 billion bushels, a 26.64% year-over-year deficit. This compares to the USDA’s 2025/2026 export projection of 1.575 billion bushels. Top destinations were China, Egypt, Indonesia, and Mexico.
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