Corn and Wheat futures higher as traders await USDA data.

Virginia McGathey discusses the current state of the grain markets as traders navigate geopolitical delays and upcoming government data. Soybean futures remained largely sideways as Middle East conflicts stalled talks with China, while implied volatility in Soybean Oil futures surpassed 40% for the first time in several months. Corn futures found support from firm ethanol production, though market participants shifted focus toward the upcoming planting intentions report. In the options market, a notable move toward the put side was observed in Corn futures with 3,300 puts added. Meanwhile, Wheat futures received a boost as investors utilized commodities as an inflation hedge despite plentiful global supplies. Market attention remains centered on the USDA planting intentions report scheduled for next Tuesday.