TFM Midday Update 4-15-2026

CORN

Corn prices are trading higher at midday, supported by strength in crude oil and solid demand. May corn futures are up 6-1/2 cents at 4.49-1/2.
COAB’s latest Brazilian production update, released yesterday, came in at 139.57, up from their previous estimate of 138.27. Dr. Cordonnier also increased his production estimate by 2 million tons to 134 million, while the USDA estimate stands at 132 million.
Overnight rains impacted parts of the Great Lakes region, with significantly more precipitation expected over the next week across the central and eastern Midwest, while the Plains are forecast to remain dry.
Ethanol production rose to 329 million gallons in the week ended April 10th, up from 328 million the previous week and 10.7% above YA.

Soybeans are trading higher at midday, supported by strength in bean oil, with the entire soy complex moving higher. May soybeans are up 9-1/4 cents at 11.67-1/4.
The soybean market still faces two major risks: a potential delay of the mid-May China–U.S. summit and the possible announcement of a new Argentina tax holiday. Either—or both—of these developments would be considered bearish for the soybean market.
Significant rainfall occurred over the past 24 hours across the Great Lakes region, with additional precipitation expected in the central and eastern Corn Belt over the next week, helping to ease soil moisture concerns ahead of planting.
CONAB’s latest Brazil production estimate, released yesterday morning, came in at 179.15—essentially in line with expectations of 179, but above last month’s 177.85.

Wheat is trading lower at midday, as some precipitation is expected across the southwestern Plains in the 6–15 day outlook. May Chicago wheat is down 2 cents at 5.90-1/4, while May Kansas City wheat is 2-1/4 cents lower at 6.20.
Ukraine is urging Israel to detain a Russian wheat cargo ship that has docked in the country to offload what it claims is “stolen” Ukrainian wheat.
Germany’s farm cooperative association estimates total wheat production in the country is down 3.3% year over year this season. In France, SRW wheat area is expected to increase 2.6% from last year, with crop conditions unchanged this week at 84% rated good to excellent.
Russia’s Agriculture Minister reports that 97% of the country’s wheat crop is in good condition.

Lauren VandenLangenberg