TFM Midday Update 01-06-2026

CORN

Corn futures are trading higher at midday on support from the soybean market. March futures are up 2-00 cents to $4.46-1/2.
Shipping agency, Cargonave, reported that Brazil’s 2025 corn exports have hit 41.7 mmt. This is up 4 mmt from the 2025 season.
Drying patterns seem to be the current theme in South America, specifically in Brazil. Further drought conditions may have a negative effect on the crop’s outlook, which may help aid U.S. prices.

Soybeans are improving for a second straight session, following yesterday’s strong performance. March futures are trading 4-00 cents higher to $10.66-00.
Soybeans are seeing follow through support today from China purchasing a reported 10 cargoes of U.S. soybeans. China has now purchased an estimated 10 mmt of US soybeans which is nearing the 12 mmt purchase agreement.
StoneX has raised their soybean production estimate for Brazil to 177.6 mmt, up from the group’s previous estimate of 177.2 mmt.

Wheat futures are mostly higher at midday, driven by recent dry weather conditions in the Plains. KC wheat is leading the way higher with March futures up 5-1/4 cents to $5.26-00. March Chicago wheat is up 1-3/4 cents to $5.14-1/4, while March Minneapolis is down half a cent to $5.70-3/4.
The Buenos Aires Grain Exchange has raised their wheat production forecast for Argentina to 27.8 mmt, up from the previous forecast of 27.1 mmt.
Weather remains relatively stable in the Plains states for much of the next two weeks. Above-normal temperatures with normal precipitation could put a pause on any significant moves higher, barring a cold snap.

Tanner Wilson