TFM Midday Update 3-26-2026

CORN

Corn futures are trading lower at midday as the market continues to consolidate. May corn is down 3 cents at $4.64-1/4, while December futures are 1 cent lower at $4.92-1/4.
USDA reported corn export sales this morning for the week ending March 19, showing solid demand. Net sales for the 2025/26 marketing year totaled 1.22 million metric tons, with an additional 135,000 metric tons booked for the 2026/27 marketing year.
Attention is shifting toward USDA’s acreage estimates set for release next Tuesday, as rising fertilizer and fuel costs tied to the Middle East conflict increase the focus on farmer planting decisions.

Soybean futures are trading modestly higher this morning, supported by renewed optimism surrounding upcoming U.S.–China trade talks. May soybeans are up 4-1/2 cents at $11.76-1/4, while November soybeans are 5-1/4 cents higher at $11.55-1/4.
USDA’s latest weekly export sales report showed stronger-than-expected soybean demand. For the week ending March 19, total sales across the 2025/26 and 2026/27 marketing years reached 695,900 metric tons, coming in above analyst expectations of 200,000 to 500,000 metric tons.
Uncertainty surrounding negotiations to end the U.S.-Israeli conflict with Iran has continued to support energy markets. Ongoing doubts about a near-term resolution have kept crude oil prices firm, which in turn has helped lift soybean oil higher.

The wheat complex is trading higher across all three classes at midday. May Chicago wheat is up 1/2 cent at $5.98-1/4, Kansas City wheat is 4-1/4 cents higher at $6.22, and Minneapolis spring wheat is up 1-3/4 cents at $6.42-1/2.
USDA reported wheat export sales this morning for the week ending March 19. Net sales for the 2025/26 marketing year totaled 397,200 metric tons, with an additional 205,800 metric tons booked for the 2026/27 marketing year.
The wheat market continues to monitor drought conditions across the U.S. Plains, with forecasts pointing to limited rainfall through early April and above-normal temperatures expected this week, conditions that are likely to further intensify dryness.

Matthew Lucas