By Kirk Maltais


--Corn for July delivery rose 1.8% to $4.60 3/4 a bushel on the Chicago Board of Trade Monday, after rainfall expected in winter-wheat growing areas over the weekend was less than anticipated by the market.

--Soybeans for July delivery rose 0.8% to $11.81 3/4 a bushel.

--Wheat for July delivery fell 0.1% to $6.00 1/2 a bushel.


HIGHLIGHTS


Ending Soon: President Trump's Truth Social post that "China is very happy that I am permanently opening the Strait of Hormuz," had grain traders thinking an end to the war in Iran may come sooner rather than later. While headlines came out throughout the trading session creating doubts about a quick end to the conflict, CBOT futures remained steady throughout the day.

Climate Change: Traders are keeping their eye on how the weather unfolds in the Corn Belt, where corn and soybean planting is underway. Right now, rainfall is arriving to planting areas across region, which is adding beneficial soil moisture to the land. The weather is predicted to turn drier next week, which is initially expected to be a good thing for farmers getting out into their fields, but it may eventually become an issue for nascent crops. "The private meteorologists are generally grabbing hold of El Niño like grim death," Marex's Charlie Sernatinger said in a note.


INSIGHT


Different Story: Farmers across the U.S. are feeling the shortfall in U.S. fertilizer supplies stemming from the war in Iran, with the fallout varying by region. The American Farm Bureau Federation said only 19% of farmers in the southern states--ranging from Virginia to Texas--prebooked their fertilizer needs ahead of this planting season, versus 67% in the Midwestern region. Roughly half of the farmers in the region said they are unable to "afford all needed fertilizer for 2026." In the south that number rises to roughly 75% of farmers.

Added Exposure: Market prediction platform Kalshi said today it added new contracts tied to commodity prices. The firm unveiled a new "Commodities Hub" that expands the amount of commodities that can be bet on using the platform. "Amid recent geopolitical uncertainty - the war in Iran, rising inflation, and political shifts in many of the world's most powerful countries - the commodities market has exploded both in volume and volatility," Kalshi said. In addition to oil and gold, the platform now includes lesser-traded assets like coffee, copper, sugar, and wheat, that will trade 24/7, allowing for "pricing functionality amid after-hours volatility."

Top End: Average daily production of ethanol in the U.S. landed on the high end of analyst forecasts for the week, according to data from the EIA. In its report published Wednesday for the week ended April 10, the EIA said average daily production was 1.12 million barrels a day. That's up by 4,000 barrels a day from last week, and landed on the high end of forecasts from analysts surveyed by Dow Jones this week. They expected an average of 1.066 million barrels a day and 1.126 million barrels a day. Stockpiles also rose for the week, climbing to 26.7 million barrels.


AHEAD


--The USDA will release its weekly export sales report at 8:30 a.m. ET Thursday.

--The USDA will release its monthly Cattle on Feed report at 3 p.m. ET Friday.

--The CFTC will release its weekly Commitment of Traders report at 3:30 p.m. ET Friday.


Write to Kirk Maltais at kirk.maltais@wsj.com

(END) Dow Jones Newswires

04-15-26 1538ET