TFM Midday Update 3-13-2026

CORN

Corn continued to trend lower at midday as crude oil remained under pressure and the U.S. dollar strengthened. May corn is down less than a cent at 4.61 ¾.
CONAB is set to release its latest update this morning, with corn production expected at 139.8 million tons.
The Buenos Aires Grain Exchange reports that Argentina’s corn harvest is now just under 10% complete.
U.S. corn area under drought declined 5% this week to 46%, compared to 55% at the same time last year. Additional precipitation is expected across the northern Midwest and eastern Corn Belt over the next several days, though conditions are expected to turn drier again after early next week.
LSEG estimates that lower corn acreage this spring could reduce U.S. corn production by 7.2% from last season if trendline yields of 183 bushels per acre are achieved.

Soybeans continue to move lower at midday as crude oil prices pull back and the U.S. dollar moves above 100 for the first time since Thanksgiving 2025. The entire soy complex is lower at midday with May soybeans down 11.2 cents at 12.16.
CONAB will release its latest update this morning, with Brazil’s soybean crop expected at 179.3 million metric tons.
The Buenos Aires Grain Exchange reported Argentina’s soybean conditions improved 2% from last week, while U.S. soybean area under drought fell 6% this week to 47%, compared to 46% at this time last year.
U.S. and Chinese officials will meet in Paris this weekend to lay the groundwork for the early April summit in Beijing. That could provide some support for soybeans through the end of March on hopes of potential pre-summit purchases.

Wheat is trading higher at midday amid ongoing global weather concerns. Chicago May wheat is up 9.6 cents at 6.08 1/4, while Kansas City May wheat is up 10.6 cents at 6.38.
Russian wheat export prices reached a 6½-month high this week, but recently slower exports suggest there is still ample exportable supply.
Dryness is increasing across the Black Sea region and Russia’s southwest growing areas, including the Volga region, where moisture levels have fallen to a six-year low. Germany and Poland are also expected to trend drier, while the U.S. Plains are forecast to enter a very warm and dry period through the end of the month.
U.S. winter wheat under drought fell 1% this week to 55%, still double the 27% reported at this time last year.

Lauren VandenLangenberg