TFM Midday Update 4-1-2022


  • May corn down 14 @ 7.35
  • USDA is estimating corn acreage at 89.5 million
  • USDA is estimating March 1 corn stocks at 7.850 bb
  • Private exporters reported export sales of 136,000 mt of corn for delivery to unknown during the 21/22 marketing year
  • 7 day forecast suggests broad precipitation over the eastern part of the corn belt (western areas are drier)
  • Brazil’s safrinha corn has chances for rain this weekend – Argentina is drier
  • May corn on China’s Dalian Exchange is around the equivalent of $11.37 per bushel


  • May soybeans down 25 @ 15.93
  • USDA is estimating soybean acreage at 91.0 million
  • USDA is estimating March 1 soybean stocks at 1.931 bb
  • Crush demand remains strong
  • Palm oil is lower after it was reported that Malaysia increased exports by 7% in March
  • Crude oil took a hit after news that the US would release 180 million barrels from strategic reserves – this may pressure soybean oil
  • May soybeans on China’s Dalian Exchange are around the equivalent of $21.24 per bushel


Like what you’re reading?

Sign up for our other free daily TFM Market Updates and stay in the know!



  • May wheat down 7 @ 9.99May KC up 2 @ 10.32, May MNPLS up 10 @ 10.89
  • USDA is estimating all wheat acreage at 47.4 million
  • USDA is estimating March 1 wheat stocks at 1.025 bb
  • Yesterday’s selloff in wheat seems to be unrelated to the USDA reports
  • Climate Prediction Center’s drought outlook suggests drought in the western US will remain through June
  • War continues in Ukraine and harvest of wheat and logistics of shipping are still major concerns
  • US wheat export sales are still down 24% from last year (despite expectations of more export demand due to the war)


  • Apr LC up 0.250 @ 139.625 & Apr FC up 1.100 @ 162.500
  • Cash was higher yesterday, which may continue today
  • Higher cash and strength in boxed beef should support futures
  • Estimate of lower corn planted acreage could lead to higher feed prices eventually
  • Choice cuts up 1.35 and select up 4.88
  • Cattle slaughter projected at 117K
  • CME Feeder Cattle Index for 3/31: up 0.35 @ 155.76


  • Apr hogs up 0.175 @ 101.925 & Apr pork cutout up 0.600 @ 108.550
  • Some chart gaps remain open on the downside
  • Lower cash was offset by higher cutouts yesterday
  • Fundamentals remain bullish – packers may need to be aggressive to fill demand
  • National Direct Afternoon report decreased 2.61
  • Hog slaughter projected at 473K
  • CME Lean Hog Index for 4/1: down 0.53 @ 103.13


Brandon Doherty

Sign up to get daily TFM Market Updates straight to your email!

back to TFM Market Updates