TFM Midday Update 03-31-2026

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

CORN

Corn prices remain lower at midday, pressured by an expected increase to U.S. corn stocks. May futures are down 3-1/4 cents to $4.52-1/2.
Today’s Acreage report is expected to show a decrease to corn acres, with total acres estimated at 94.4 million acres. This compares to 98.8 million acres planted last year and 94.3 million acres estimated in last year’s report.
Corn stocks are expected to increase to 9.1 billion bushels, up nearly 1 billion bushels from last year.
AgRural estimates that Brazil’s safrina crop is now 99% planted. The group also slightly lowered their production estimate to 135.7 mmt for Brazil. However, this is still well above USDA’s 132 mmt estimate.

Soybeans are starting to fade at midday but remain slightly higher ahead of today’s reports. May soybeans are up 00-3/4 to $11.60-1/2.
Today’s Acreage report is expected to show an increase to the soybean area in the U.S. Total acres are seen at 85.5 million acres, which is up from 81.2 million acres estimated in last year’s report. Soybean stocks are also expected to increase to the largest since 2020 at just over 2 billion bushels.
AgRural pegs Brazil’s soybean harvest at 75% complete as of March 26. This compares to 68% a week earlier and 82% a year ago.

All three wheat classes remain higher at midday, supported by a drop in conditions and lower expected wheat area. May Chicago futures are up 10 cents to $6.17-00, May KC is 14-00 cents higher to $6.40-1/4, and May Minneapolis is trading 5-3/4 cents higher to $6.57-3/4.
Wheat stocks are expected to increase to 1.3 million bushels, which compares to last year’s March 1 estimate of 1.2 million bushels. All wheat acres are expected to decrease to 44.7 million acres, compared to last year’s estimate of 45.3 million acres.
Yesterday’s Conditions report showed a drop in ratings for Kansas, Oklahoma, Texas, Colorado, Nebraska, and South Dakota. This has been supportive for wheat prices as most areas need moisture.

Tanner Wilson