TFM Midday Update 04-30-2026

CORN

At midday, corn futures are lower as the market pauses following recent gains. July corn is down 6 cents at $4.71-3/4, while December futures are 4-3/4 cents lower at $4.93.
This morning, the USDA reported corn export sales of 1.6 million metric tons for the week ending April 23 for the 2025/26 marketing year. That total came in on the high end of trade expectations, signaling continued strength in export demand.
The USDA reported U.S. corn planting at 25% complete as of Monday, ahead of expectations and above the five-year average. However, upcoming Midwest storms could slow progress and limit near-term fieldwork.

Soybean futures are lower across the board this morning, tracking weakness in crude oil. July soybeans are down 4-1/4 cents at $11.92-3/4, while November futures are 2-3/4 cents lower at $11.68-1/2.
In its latest weekly report, the USDA said soybean export sales for the week ended April 23 totaled 261,100 metric tons across the 2025/26 and 2026/27 marketing years. That figure came in within trade expectations, which ranged from 200,000 to 600,000 metric tons according to The Wall Street Journal survey.
Soybean prices continue to find support from strength in energy markets. Soybean oil has led the complex, pushing to multi-year highs and providing underlying support to soybean futures.

Wheat futures are lower across the board this morning as traders take profits following the recent rally. July Chicago wheat is down 15 cents at $6.38, Kansas City is 13-1/4 cents lower at $6.91-1/2, and Minneapolis spring wheat is down 10-1/2 cents at $7.05.
This morning, the USDA reported wheat export sales for the week ending April 23 at 226,100 metric tons for the 2025/26 marketing year, with an additional 156,700 metric tons booked for 2026/27. That total came in within trade expectations.
The market is monitoring Indonesia’s move to tighten wheat import regulations effective May 8. Products such as feed wheat will now require government approval for each shipment, introducing uncertainty for demand from one of the world’s largest importers.

Matthew Lucas