Corn, wheat, and soybeans fell this week as farmers cheered better weather forecasts.
Across much of the Corn Belt, farmers have been worried that cold, wet weather could delay spring planting, but warmer and drier weather is expected next week, hopefully allowing them to get into the fields. This could boost corn and soybean acreage this year, an expectation that sent both markets to a two-week low on Friday, at $3.78 and $10.32 per bushel respectively.
Meanwhile, wheat farmers across Colorado, Kansas, Oklahoma, and Texas are expecting heavy rains, which should alleviate drought concerns, a factor that pulled Kansas City wheat down to $4.85 per bushel on Friday.