By Kirk Maltais


--Corn for July delivery rose 1.2% to $4.80 a bushel on the Chicago Board of Trade Thursday, rising in reaction to damage being dealt to energy infrastructure in the Middle East, which in turn is making fertilizer more expensive.

--Wheat for July delivery rose 1% to $6.21 3/4 a bushel.

--Soybeans for July delivery rose 0.6% to $11.83 1/2 a bushel.


HIGHLIGHTS


Feast or Famine: CBOT corn led row crops higher, following the uptick in natural gas futures surge. Fertilizer is the key concern among grain traders, with corn the most exposed to higher fertilizer costs because it's a nutrient-intensive crop. Analytics provider DTN said urea and anhydrous ammonia prices jumped by 12% and 7%, respectively, from this time last month, as energy-producing infrastructure in the Middle East comes under attack. Natural gas is essential for producing nitrogen-based fertilizers.

Dry Zone: Drought conditions in some winter-wheat growing areas in the Plains supported CBOT wheat, although it lagged behind corn. The U.S. Drought Monitor shows growth in drought areas in the western side of the region, particularly in western Nebraska. Dry conditions are showing up as the growing season continues, while harvest-time typically begins in the summer months. CBOT wheat has been following corn, which has been on the rise as the war in Iran disrupts natural gas traveling through the Strait of Hormuz and impacts the price and availability of fertilizer.


INSIGHT


Battered on All Sides: Farmers in the U.S. are being economically harmed on many fronts, said the American Farm Bureau Federation. In a letter to President Trump, a group of 54 agricultural groups are calling for farmer bridge payments to be effectively and quickly distributed, in order to mitigate tough farm economics. The letter also called for E15 regulations nationwide, and for final rules governing the renewable fuels obligations to be set. Most of these issues have been present for farmers for some time, but the war in Iran is ramping up the pressure on finances as costs for fuel and other key inputs rise.

Lackluster Showing: Export sales of U.S. grains reported by the USDA were mostly on the low side of analyst projections. For the week ended March 12, export sales of U.S. soybeans totaled 304,800 metric tons across the 2025/26 and 2026/27 marketing years. Wheat sales totaled 402,000 tons across both marketing years, and corn totaled 1.18 million tons. All three of these figures were on the low end of forecasts from analysts surveyed by The Wall Street Journal this week.


AHEAD


--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.

--The USDA will release its weekly Grain Export Inspections report at 11 a.m. ET Monday.


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


(END) Dow Jones Newswires

03-19-26 1508ET