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Wheat futures are trading sharply higher this morning, while soybeans and the soy product markets are lower on followthorugh selling. Corn is caught in the middle.

Crops react to USDA planting intentions report

USDA unexpectedly estimates farmers intend to plant more acres to soybeans than corn in 2022. March 1 stocks were slightly lower than expected, while soybean stocks came in higher than anticipated.

Soybeans and cotton above expectations

USDA will release its Prospective Plantings and Grain Stocks Reports today, Biden Admin may remove restrictions on E15 and China’s PMI fell below growth-neutral in March...

Quiet trade expected ahead of USDA’s reports at 11 a.m. CT. Hog futures will be supported by Wednesday’s bullish Hogs & Pigs Report.

OPEC Sticks to Production Plan Despite Elevated Oil Prices | Biden to Again Tap SPR

SRW areas show the largest improvement