DELMARVA — A midweek crude oil rally pulled corn and soybean prices higher Wednesday as commercial buyers stepped in and energy sector gains boosted demand expectations for biofuels. Soybean oil led the agricultural rally on anticipated biodiesel demand.
The energy support comes even as authorities release record amounts from strategic reserves, showing strength in underlying market fundamentals.
Markets
May corn futures settled at $4.37/bu, up $0.03. May soybeans gained $0.08 to close at $10.72/bu. May wheat added $0.02, finishing at $5.19.
Local cash corn on Delmarva is trading near $4.20, while soybeans are bringing $10.50 at area elevators.
Forecast
Rain is already moving in this morning with temperatures climbing to 56°F. The precipitation will transition to a rain and snow mix later today as northwest winds pick up from 10 to 20 mph. Snow likely continues tonight as temps drop to 30°F.
Friday looks much better with mostly sunny skies and highs reaching 51°F as lighter south winds return. Field work is on hold until at least Friday.
This article is based on the Delmarva Farm Report Update Morning Edition, March 12, 2026. Hosted by Tom Bradley.
