TFM Midday Update 3-30-2026

CORN

Corn futures are lower at midday with May futures down 3 cents, currently trading at 459, and December futures down 3-1/2 cents, currently trading at 486-3/4.
Corn futures are under pressure to start the week following morning comments from Donald Trump about a potential cease-fire with Iran. The remarks contrast with messaging coming out of Tehran, adding uncertainty to outside markets. Traders are also adjusting positions ahead of Tuesday’s USDA report.
In tomorrow’s report, March 1 U.S. corn stocks are expected near 9.1 billion bushels, roughly 1 billion bushels larger than a year ago. 2026 U.S. corn acreage is projected at 94.4 million acres, compared with 98.8 million planted last year and 94.3 million estimated in last year’s March report.

Soybean futures are leading the grain complex higher to start the week. May futures are currently up 8 cents, trading near 1167-1/2, while November futures are up 8-1/2 cents, trading near 1152-1/2.
Last week’s EPA announcement was viewed as supportive for soybean oil. Initial estimates placed 2026 renewable fuel volume requirements near 5.61 billion RINs, but the finalized figure came in significantly higher at 7.12 billion.
March 1 U.S. soybean stocks are expected to be the largest since 2020, with trade estimates just over 2 billion bushels ahead of tomorrow’s report from the USDA. 2026 U.S. soybean acreage is projected at 85.5 million acres, compared with 81.2 million planted last year.

Wheat futures are mixed to start the week as better chances for moisture are forecast for the Plains over the next two weeks. May CBOT wheat is currently up a penny, trading at 606. May KCBOT wheat is currently down 3-3/4 cents, trading at 629, while May Spring wheat is currently up 3 cents, trading at 639-1/2.
Also weighing on the wheat market is the continued abundance of global supplies. U.S. hard winter wheat FOB values are reportedly more than $1.10 per bushel above comparable Russian offers, limiting U.S. export competitiveness.
On Tuesday’s report from the USDA, March 1 wheat stocks are estimated near 1.3 bb, which would mark the largest level in five years.

Keegan Madigan