Recap for March 28

• Corn futures Thursday posted their largest one-day rally since July after the USDA estimated March 1 corn stocks and projected 2024 corn plantings below trade estimates. Winter wheat futures followed corn higher even as all-wheat stocks and plantings slightly topped expectations. Meanwhile, spring wheat futures took a downturn after spring wheat and durum planting expectations topped projections. May corn jumped 15┬╝┬ó to close at $4.42 per bu. Chicago May wheat added 12┬¥┬ó to close at $5.60┬╝ per bu. Kansas City May wheat added 7┬ó and closed at $5.85┬╝ per bu. Minneapolis May wheat dropped 6┬ó and closed at $6.45 per bu. May soybeans lost 1┬ó to close at $11.91┬¢ per bu; the September future and beyond were higher. May soybean meal was down $1.30 to close at $337.70 per ton; later months were mixed. May soybean oil added 0.28┬ó to close at 47.95┬ó a lb.

• The US dollar index closed higher Thursday.

• US gold futures soared Thursday despite the strengthening dollar. The April contract added $26.80 to close at $2,217.40 per oz

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