TFM Morning Update 03-30-2026

CORN

Corn futures are trading slightly lower to start the week ahead of tomorrow’s anticipated stocks and acreage reports. May corn is down 1/4 cent to $4.61-3/4 and is near the bottom of its recent range while December is down 1-1/2 cents to $4.88-3/4.
On Friday, the EPA finalized biofuel blending standards which were very favorable for soybean oil, but 15 billion RINs of conventional (ethanol) biofuel will be mandated. Corn demand for ethanol is expected to hold its recent pattern near 5.5 billion bushels.
Friday’s CFTC report saw funds as buyers of corn as of March 24. They bought 55,744 contracts which increased their net long position to a whopping 284,548 contracts.

Soybean futures are trading higher to start the week with May soybeans up 6-1/4 cents to $11.65-1/2 and November up 3 cents to $11.47. May soybean meal is down $1.90 to $313.40 while May soybean oil is propping up soybeans with a gain of 1.32 cents to 68.73 cents. On Friday, prices dipped after China announced an investigation into US trade retaliation.
Friday’s biofuel blending announcement was very friendly for soybean oil but traders sold the fact following the announcement. The EPA announced that bio-mass based diesel volume requirements would be 8.86 billion RIN’s compared to the proposed 7.12 billion this year. This was up significantly from expectations. This will create much more demand for bean oil but will likely leave excess soybean meal from increased crushing.
Friday’s CFTC report saw funds as sellers of soybeans by 4,093 contracts which left them with a net long position of 197,904 contracts. They bought 265 contracts of bean oil and bought 24,039 contracts of meal.

All three wheat classes are trading lower with May Chicago wheat down 4-1/4 cents to $6.00-3/4, May KC wheat down 8-3/4 cents to $6.24, and Minn wheat is down 2-1/4 cents to $6.46.
Thursday’s U.S. Drought Monitor data showed an expansion of severe and extreme drought across key winter wheat regions, while shifting weather forecasts for the coming week have also provided support to the wheat market.
According to USDA data as of March 24, 57% of U.S. winter wheat acres are now experiencing drought conditions, up 2 points from the previous week. Meanwhile, spring wheat drought exposure held steady for the third consecutive week at 21%.

Amanda Brill