Soybeans Up Over 18¢. Tuesday, April 8, 2025

Just past 9 a.m. CT, May corn was up 2¢ at $4.66½ per bushel.

This morning USDA announced Spain is buying 240,000 metric tons of corn for the 2024/2025 marketing year.

May soybeans were up 18¼¢ at $10.01¼ per bushel.

Naomi Blohm, senior market advisor at Total Farm Marketing, said since it has been a quiet morning so far, with no new tariff news, traders are jumping in to buy soybeans but the commodity is still trading within its current range.

Arlan Suderman, chief commodities economist at StoneX, said, “Soybeans saw the most selling in the grain and oilseed complex during the tariff market collapse, with corn holding well, followed by a relative quick recovery by wheat. Soybeans are catching up, supported by [a] firming cash basis both here and in Brazil. U.S. exports continue to impress, with marketing-year-to-date export inspections exceeding the seasonal pace needed to hit USDA’s target …. There’s also a cautious optimism that we will see guidance for the Renewable Fuel Standard emerge from the EPA in the weeks ahead. Today’s strength doesn’t mean that the market has the strength to sustain a rally, but I would call this a recovery rally for now, as the outside markets try to find calmer waters.”

May wheat contracts were mixed. CBOT wheat was up 1¼¢ at $5.37¾ per bushel. KC wheat was down 1¼¢ at $5.58. Minneapolis wheat was down a penny at $5.93.

June live cattle were up $2.10 at $196.28 per hundredweight (cwt) a little past 9 a.m. CT. May feeder cattle were up $2.48 at $273.75 per cwt. June lean hogs were up $1.03 at $91.08 per cwt.

May crude oil was up 50¢ at $61.20 per barrel.

The U.S. Dollar Index June contract was down to 102.95.

June S&P 500 futures were up 186 points. June Dow futures were up 1,367 points.

Tags: corn, soybeans, wheat, futures, live cattle, feeder cattle, lean hogs