TFM Morning Update 03-31-2026

The CME and Total Farm Marketing Offices will be Closed Friday, April 3, in Observance of Good Friday

CORN

Corn futures are trading slightly lower this morning ahead of the USDA reports that will be released at 11 am central. May corn is down 1-1/2 cents to $4.54-1/4 while December is down 2-3/4 cents to $4.81-1/4.
Estimates for today’s grain stocks report see corn stocks between 8,575 and 9,378 mb with an average guess of 9,113 mb, This would be up from last year’s 8,147 mb. Planting intentions are expected at 94.5 million acres for corn, which would be down from 98.8 ma last year.
Yesterday’s export inspections for corn were good at 1,790k tons, which compared to 1,703k last week and 1,718k a year ago. Top buyers were Mexico, Japan, and Korean Republic.

Soybean futures are trading higher this morning and have been driven by soybean meal. May soybean meal is up 2-1/4 cents to $11.62 while November is up 1/4 cent to $11.44-1/4. May soybean meal is up $1.80 to $316.70 and soybean oil is down 0.06 cents to 68.41 cents.
Estimates for the grain stocks report see soybean stocks at 2,086 mb with a trading range between 1,905 and 2,196 mb. This would compare to 1,911 mb last year. Planting intentions are seen at 85.5 million acres, which would be up from 81.2 ma last year.
Yesterday’s export inspections saw soybean inspections at 586k tons, which compared to 1,115k last week and 818k tons a year ago. Top destinations were to China, Indonesia, and Egypt.

All three wheat classes are trading higher this morning following drops in crop conditions in Kansas and Oklahoma. May Chicago wheat is up 1-1/4 cents to $6.08-1/2, KC is up 1-1/2 cents to $6.27-3/4, and Minn is up 1/4 cent to $6.52-1/4.
Estimates for grain stocks today see wheat stocks at 1,306 mb with a trade range between 1,250 and 1,334 mb. This would be up from 1,237 mb a year ago. All wheat acres are expected at 44.7 ma, which would compare to 45.3 ma last year.
Yesterday’s export inspections saw wheat inspections at 364k tons, which compared with 459k last week and 503k a year ago. Top destinations were to Japan, Nigeria, and Mexico.

Amanda Brill