The ongoing cold and wet weather could have an impact for corn markets. “U.S. cold and wet Midwest weather may be helping U.S. domestic cash basis,” Steve Freed, VP of Grain Research for ADM Investor Services, said. “Some report crushers are having trouble buying corn… Wet U.S. Midwest spring could slow early corn plantings.”

In addition to China, corn analysts were watching trade issues with other countries, Jack Scoville, with the Price Futures Group, said. “Trade attention will now turn to Washington as it moves to resolve trade problems with China, Europe, and Japan, among others, and pushes for passage of the new North American trade agreement.”