Oil Slide Knocks U.S. Farm Futures Before Corn and Wheat Rebound

Overview

• - President Trump’s early Monday post ordering a five‑day pause on strikes against Iranian energy sites pushed crude down sharply and dragged grain, oilseed and cotton futures lower in the session.
• - Following Monday’s selloff, prices steadied on Tuesday with corn up 5 to 6 cents, wheat higher by 5 to 8 cents, cotton modestly firmer, and soybeans mixed as crude recovered about $5.
• - Recent CFTC data show funds adding corn longs by 35,533 contracts to 228,804, trimming soybean longs by 20,110 to 201,997, and slashing cotton’s net short by a record 26,549 to 40,205, moves that can speed price swings when large orders hit thin markets.
• - USDA reports point to uneven export demand with wheat shipments at 458,411 metric tons for the week ending March 19 and marketing‑year wheat exports 17.98% above last year, corn inspections at 1.7 million tons with season‑to‑date shipments up 37.8%, and soybean commitments running 19% below a year ago.
• - Livestock split continues as live cattle futures firm on tight supplies and February placements of 1.61 million head, workers stay on strike at JBS’s Greeley plant, and lean hog futures soften with a lower cash index and a weekly slaughter near 2.5 million head.