TFM Midday Update 3-27-2026

CORN

Corn is mixed at midday with May corn down 1 cent at 4.66 ¼ and July down 1 cent at 4.77 ¼.
The latest U.S. Drought Monitor indicates that 41% of corn-growing areas are currently under drought conditions, compared to 44% at the same time last year.
The Prospective Plantings report is expected to be released next week and is anticipated to show corn acreage at 94.4 million acres, down from 98.788 million in 2025. However, there are concerns that the data was collected before fuel and fertilizer prices began to rise.
The CEO of JBS, the world’s largest meatpacker, said the company expects corn prices to increase in 2026, as elevated fuel prices support strong ethanol production in the U.S. and Brazil.

Soybeans are under pressure at midday despite renewed strength in crude oil markets and a morning export sale. May soybeans are down 3.6 cents at 11.69¾.
USDA confirms the sale of 105,000 tons of U.S. soybeans for delivery to unknown destinations in 2025/26.
The U.S. Drought Monitor shows that 42% of U.S. soybean areas are under drought this week, compared to 36% a year ago.
Many countries continue to seek additional fertilizer supplies, but the head of Russia’s fertilizer lobby said there is very little spare capacity to meet global demand, with plants already operating at full capacity.

Wheat is trading higher at midday as weather forecasts continue to raise concerns. May Chicago wheat is up 2.2 cents at 6.07 ¼ and May Kansas City wheat is up 8 cents at 6.34 ¾.
U.S. winter wheat under drought increased 2% this week to 57%, nearly 20% higher than this time last year. Forecasts indicate that the southwestern Plains will receive little to no moisture through the end of next week, keeping crop stress levels elevated.
Next week’s planting report is expected to show total wheat acreage at 44.79 million acres, down from 45.33 million last year. Spring wheat acreage is anticipated to be the lowest since 1970.
India’s wheat crop is estimated at 113–114 million tons, down from a previous estimate of 115 million. Meanwhile, the EU projects 2026/27 common wheat production at 125.9 million tons, compared to 134.2 million this season.

Lauren VandenLangenberg