TFM Midday Update 09-30-2025

CORN

Corn remains lower at midday, pressured by yesterday’s bearish Crop Progress report. December corn is down 3-1/4 cents to $4.18-1/4, while the March contract is 3-3/4 cents lower to $4.34-3/4.
Monday’s Crop Progress report showed corn ratings unchanged from the previous week at 66% good-to-excellent. Harvest advanced to 18% complete, up from 11% last week, but down from 20% through the same week last year.
Today’s quarterly stocks report is expected to show stocks at 1.337 billion bushels, down from 1.763 billion bushels last year.
Weather remains favorable through the weekend before rain chances move in early next week. This should help harvest to progress before any potential delays.

Soybeans continue to see weakness at midday as harvest pressure brings down prices. November soybeans are 6-1/2 cents lower to $10.04-00, with the January contract trading 7-00 cents lower to $10.22-3/4.
Yesterday’s Crop Progress report showed soybean ratings improving 1 point to 62% good-to-excellent. Harvest jumped to 19% done, up from 9% last week, but down from 24% complete through the same week a year ago.
The average guess for today’s soybean stocks figure is 323 million bushels, which is below last year’s 342 million bushels.
According to AgRural, Brazil’s soybean planting is now 3.2% complete, up from 0.9% last week and ahead of last year’s pace of 2% at this time.

Wheat prices are lower at midday as the market is anticipating higher wheat stocks compared to a year ago. December Chicago wheat futures are down 3-1/2 cents to $5.16-00.
Winter wheat planting now sits at 34%, up from 20% a week ago, but slightly behind last year’s pace of 37% complete through the same week. Winter wheat emerged is at 13%, which is on par with last year’s figure.
Wheat stocks are expected to increase to 2.043 billion bushels in today’s stocks report, which would be up from 1.992 billion bushels in last September’s report.
According to Poland’s central statistical office, the country’s wheat output is now expected to reach 13.4 million tons, up from last year’s 12.8 million.

Tanner Wilson