TFM Midday Update 09-15-2025

CORN

Corn futures are weaker at midday after a strong close to end last week. December corn futures are 5-1/2 cents lower at 424-1/4. July futures are 5-1/4 cents lower at 458-1/4.
Friday’s bullish trader reaction came despite record-large yield and production estimates of 186.7 bpa and 16.81 bb.
Some rain is expected this week west of the Mississippi River, but for most areas corn harvest should start to push along rapidly.

Soybean futures are slightly lower to start the week. November futures are 2-1/2 cents lower at 1043-3/4. July soybean futures are 2-3/4 cents lower at 1100-1/4.
Soybeans rallied late Friday afternoon as traders seemed skeptical of the USDA’s record soybean yield projection of 53.5 bpa after a record dry last 45 days across portions of the Corn Belt.
U.S. Treasury Secretary Scott Bessent is meeting with China’s Vice Premier this week on trade negotiations. Traders remain hopeful a deal could jumpstart the slow U.S. soybean export program.

Wheat futures are mixed to start the week. December CBOT wheat futures are currently 1-1/2 cents higher at 525-1/4. December KC wheat futures are 1-1/2 higher at 516-1/4 and December Spring wheat futures are 1-1/2 cents lower at 570-1/4.
Friday’s September WASDE raised U.S. wheat exports by 25 mb, but prices rallied despite sharp production gains among other major exporters. In total, other exporters were reported to have production up 9.3 mmt when compared to August.
Recent rains in Australia and Argentina—both key Southern Hemisphere wheat producers—should aid crops and likely act as a headwind for wheat futures.

Keegan Madigan