TFM Morning Update 04-17-2026

CORN

Corn futures are slightly higher to start the day with May corn up 2 cents to $4.50-1/2 while December is up 3/4 cent to $4.77-1/2. Corn has posted a crossover buy signal and may have put in a temporary bottom on April 10.
Yesterday’s export sales report saw an increase of corn sales by 55.1 mb for 25/26 as of April 9 and an increase of 2.2 mb for 26/27. Last week’s export shipments of 61.4 mb were below the 63.8 mb needed weekly.
According to the Buenos Aires Grain Exchange, the 25/26 corn harvest is forecast to reach a record 61 mmt, which would be up from the previous estimate of 57 mmt following a revision of higher planted acreage.

Soybean futures are trading lower this morning thanks to losses in soybean oil. May soybeans are down 4 cents to $11.59-1/2 while November is down 4 cents to $11.52. May soybean meal is down $1.20 to $331.50 and May soybean oil is down 0.52 cents to 68.82 cents as it follows crude lower.
Yesterday’s export sales report saw an increase of soybean sales of 9.1 mb for 25/26 and no change for 26/27. Last week’s export shipments of 30.1 mb were above the 18.6 mb needed each week.
Brazilian soybean exports for 2026 are expected to be an all-time record at 13.6 mmt, but the total revenue is expected to fall as a result of high global supply. Projected revenue has been cut $7 billion from last month’s estimate.

All three wheat classes are trading higher this morning with May Chicago up 1-1/2 cents to $6.00, KC up 1 cent to $6.43-3/4, and Minn wheat up 3/4 cent to $6.52-1/2. Tightening of global fertilizer supplies have supported wheat.
Yesterday’s export sales report saw an increase of 3.7 mb of wheat sales for 25/26 and an increase of 4.8 mb for 26/27. Last week’s export shipments of 11.5 mb were below the 17.5 mb needed each week.
While Australia has just been reported to have secured some fertilizer for their crop needs, western Australia is now expected to plant less wheat and more canola as it requires less fertilizer.

Amanda Brill