New corn crop trade estimates are slightly higher than expected at 1.682 billion bushels while global inventories are well below the average.
Favorable weather pushes for an increase in wheat production. Orange juice, coffee and sugar stocks remain consistently high in the weekly charts.
The upcoming May WASDE reports may reflect optimism for corn futures as bushels' average continue to rise while soybean is expected to drop slightly.
The orange juice market makes headlines this week as it surpasses other crops. Vegetable and palm oils dropped due to lesser demands.
The rainy season favors the Argentinian market as commercial buying props up soybeans. Crop futures are also looking agriculturally optimistic.
Agricultural crops closed low since last week with coffee and sugar futures looking dimmer. Cocoa grind data are eventful, scoring high this week.
China threatens to tax US soybeans by 25 percent above the normal rate but supply and demand continue to rise, owing to the wet weather.
Trade wars between the US and China hurt crops as futures remain volatile despite closing high on wheat, palm oil, vegetable oil and rice.
Amid trade wars between the U.S. and China, corn stocks remain steady. Experts see a favorable market for corn in the coming days.
Thanks to USDA Perspective Plantings, corn and soybeans closed higher this week. Despite a drop, cotton and sugar remain unfazed.