TFM Midday Update 04-01-2026

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

CORN

Corn continues to shift lower at midday as the market continues to react to yesterday’s USDA report. May corn is 8.2 cents lower at 4.49 ½.
Dr. Cordonnier left his production estimates for Brazil and Argentina unchanged, noting that strong export competition from Brazil’s safrinha crop is not expected to affect the U.S. market until early summer.
Significant rainfall is expected over the next week across the central and eastern Corn Belt, with lighter amounts forecast for the Plains. This added moisture should be beneficial as the region moves into the early stages of planting. The average U.S. corn planting dates are April 20 for Iowa, Indiana, and Nebraska, and April 13 for Illinois.
Ethanol production slipped to 316 million gallons in the week ended Friday, March 27, down from 328 million the previous week; however, it was still up 1% from the same week last year.

Soybeans pull back at midday as the market still reacts to lower than expected acres from yesterday’s USDA report. The entire soy complex is lower at midday with May soybeans down 16.2 cents at 11.55.
Dr. Cordonnier left his production estimates for Argentina and Brazil unchanged this week; however, Argentina is expected to experience localized flooding, with heavy storms forecast across central and southern regions this weekend that could lead to potential damage.
Storms are moving into northern Missouri and the eastern Corn Belt this morning and are expected to persist into the weekend across the central Midwest and northern regions, helping to improve soil moisture.
The NASS February crush report will be released after the close today and is expected to come in at 215 million bushels, up 13.4% from February a year ago.

Wheat futures shift lower at midday trade as reports of the war in Iran may be heading toward a negotiated end is pulling crude lower this morning adding pressure to wheat. May Chicago wheat is 19.4 cents lower at 5.96 ½ while May Kansas City wheat is 22.6 cents lower at 6.12 ¾.
Concerns are growing as weather issues persist across the HRW crop region, which could potentially reduce production more than expected. However, the forecast for the next 10 days shows potential storms that could help stabilize crop stress in many areas.
Unseasonal rainfall and hailstorms across the Punjab crop region in India have raised concerns about potential damage to the wheat crop.
Russia’s railway operator estimates that March wheat exports could reach 4.85 million tons, just below the 2024 record of 4.89 million tons.

Lauren VandenLangenberg