TFM Morning Update 04-16-2026

CORN

Corn futures are mixed to start the day with May corn down 1/4 cent to $4.51 and December up 1 cent to $4.79. On the chart, corn has posted a crossover buy signal in all months could continue to move higher.
Estimates for today’s export sales report as of April 9 seen corn sales in a range between 900,000 and 1.70 million metric tons with an average guess of 1.3 mmt. This would compare to 1.38 mmt a week ago.
Ongoing constraints through key Gulf shipping routes have tightened global supplies of nitrogen-based fertilizers such as ammonia and urea, pushing input costs higher ahead of the U.S. planting season. This could push some acres away from corn and towards other crops.

Soybean futures are mixed as well this morning with May soybeans down 1 cent to $11.66 while November is up 1/4 cent to $11.54-3/4. May soybean meal is down $1.90 to $332.50 and soybean oil is up 0.59 cents to 68.20 cents.
Estimates for today’s export sales report see soybean sales in a range between 200k and 700k tons with an average guess of 450k tons. This would compare to 295,400 mt sold a week ago. Bean meal exports are estimated around 450k metric tons.
Soybean planting is off to a record-fast start, with 6% completed nationwide compared to just 2% at this time last year and the five-year average. Progress has been led by southern states such as Louisiana, Arkansas, Mississippi, and Tennessee, which are already 30–39% planted.

All three wheat classes are trading higher this morning with May Chicago up 7-1/2 cents to $6.01-1/4, KC up 14-1/2 to $6.40, and Minn up 11-1/2 cents to $6.51. Rains are expected in key growing areas, but not until the end of the month.
Estimates for today’s export sales report see wheat sales in a range between 150k and 600k tons with an average guess of 375k tons. This would compare to 254,300 mt last week.
USDA reported that U.S. winter wheat conditions declined 1 point to 34% good-to-excellent as of April 12. Meanwhile, spring wheat planting reached 6%, in line with last year and slightly below the five-year average.

Amanda Brill