“Prices ranged from $.03 to $.05 higher. CGO May-26 held within yesterday’s range. CGO and KC spreads were mixed. KC May-26 spread over CGO grew to over $.20 intraday having rallied over $.30 since late Feb-26 as the SW plains continue to miss out on rainfall. U.S. ending stocks were left unchanged at 931 mil. bu. while global stocks drifted down to 277 mmt. Safras & Mercado forecast Brazilian acres in 2026 will fall 15.5% from YA to 1.985 mil. HA. Production is expected to drop 14.5% to 6.85 mmt, below the USDA forecast of 8 mmt. Stocks/use among global exporters held steady at 17.7%, the highest in 7 years,” stated Mark Soderberg with ADM Investor Services.
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