Crop Progress
Corn: 4% planted, 2% behind expectations and 1% behind the average pace.

Soybeans: 2% planted, 1% behind expectations but in line with the average pace.

Spring Wheat: 7% planted, in line with expectations.

Winter Wheat Ratings: 47% good/excellent, in line with expectations.

Wheat

Monday’s Recap
Wheat futures were mostly lower Monday with the July contract finishing the session at 561’6, off by 8’4 (1.49%). Combined volume was a heavy 188,688, with July seeing 75,761 change hands. Overall open interest added 3,136, or 0.67%, to 467,969. July gained 11,414 (5.71%), finishing at 211,163.

Technicals
May wheat futures pulled back to Friday’s “breakout point” and have so far been able to use that as support. Higher lows and higher highs are still intact over the last 2 weeks. The big barrier for the Bulls to get out above comes in from 555-557 1/2. If the Bulls can achieve that we could see a more meaningful relief rally kick into gear.

Technical Levels of Importance
Resistance: 555-557 1/2***, 569-570 1/4***, 575 3/4-577 1/2****
Pivot: 530-537
Support: 515-520*

Weekly Export Inspections Snapshot
Monday’s weekly wheat inspections were reported at 604k metric tons, that was above the top end of expectations.

Want to read the full article with charts? Click here: https://bluelinefutures.com/2025/04/15/a-choppy-grain-trade-to-start-the-week/ 

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