TFM Midday Update 4-13-2026

CORN

May CBOT corn futures are 2 higher at 443, while December futures are up 1-1/2 at 474 currently.
Corn futures are rebounding to start the week after falling to multi-week lows last week. Failed peace talks over the weekend have pushed energy markets higher, providing support to corn.
Ample moisture is forecast across much of the I-states over the coming week, with Chicago expected to receive more than 4 inches of rain over the next seven days. The western Corn Belt is expected to see lighter precipitation, allowing planting to likely begin in some areas.

May CBOT soybean futures are 10 lower at 1165-3/4, while November futures are 4-1/2 lower trading at 1153-1/2 currently.
The soybean market is starting the week under pressure as traders weigh the implications of the ongoing conflict between the U.S. and Iran. The region is critical to China’s energy interests, and any deterioration in U.S.–China relations could jeopardize future U.S. soybean trade with China.
Managed money traders increased their net-long position in soybean oil last week to a record level of more than 148,000 contracts. Strong domestic soybean crush margins remain the most bullish component of the soybean complex.

May CBOT wheat futures are 15 cents higher at 586, May KCBOT wheat futures are 20 cents higher at 611, while May MIAX spring wheat futures are 14 cents higher trading at 614 currently.
After four days of sharply lower prices, wheat futures are bouncing higher to start the week with both war and weather premium being added back into the market.
While some moisture is forecast for a portion of wheat growing areas, some damage has likely already been done with 68% of the U.S. winter wheat area under some form of drought according to the latest drought monitor.

Keegan Madigan