TFM Midday Update 2-9-2026

CORN

Corn futures are lower to start the week; March corn is currently down 1-1/4 cents trading at 428-3/4.
The USDA will release its monthly supply and demand report tomorrow. Corn ending stocks are expected to remain near seven-year highs, despite record-strong export demand.
Weekend rains brought some relief to drought-stressed areas of Argentina, while second-crop corn planting in Mato Grosso reached 28% complete as of late last week, according to local reports.

Soybean futures are backing off to start the week after last week’s sharp rally following President Trumps social media post hinting towards more sales of US soybean to China. March soybean futures are currently down 4-1/4 cents trading at 1110.
USDA announced a flash sale of 9.7 mb of soybeans to China this morning, marking the first reported sale to China since January 15.
Brazilian soybean harvest continues at a rapid pace, with 40% complete in Mato Grosso according to IMEA. Brazilian soybeans remain sharply discounted relative to U.S. export offers.

Wheat futures are lower Monday morning as futures test support. March CBOT wheat futures are 3 cents lower currently, trading at 526-1/2. March KCBOT wheat futures are 4 cents lower trading at 527 while March Spring wheat futures are a penny lower trading at 569.
Traders will closely watch USDA crop condition ratings later today following the January cold snap across the Plains, which may have caused some winterkill.
Dryness remains a concern across U.S. winter wheat regions, with 43% of acreage in drought as of last week and limited moisture expected in the near-term forecast.

Keegan Madigan