TFM Midday Update 2-12-2026

The CME and Total Farm Marketing offices will be closed Monday, February 16, in observance of Presidents Day

CORN

Corn futures are modestly higher at midday. March corn futures are up 1-1/2 cents at $4.29, while December futures are 2 cents higher at $4.61-3/4.
This morning, USDA released its weekly export sales report for the week ending February 5. For the 2025/26 marketing year, net corn sales totaled 2.07 million metric tons, with an additional 60,000 metric tons booked for 2026/27 delivery. These sales were well above the range of trade estimates.
Ongoing weakness in the U.S. dollar has continued to lend support to corn export competitiveness. The U.S. Dollar Index is currently testing a support level that has held since mid-June. A decisive break below that area could open the door to a move toward the early-2021 lows.

Soybean futures are receiving another lift from renewed optimism surrounding additional demand from China. March soybeans are up 13 cents at $11.37-1/4, while November futures are higher by 4-1/2 cents at $11.15.
Expectations for sustained Chinese demand received an additional lift following a report from the South China Morning Post indicating that President Donald Trump and Chinese President Xi Jinping could extend their countries’ trade truce for up to a year during a potential meeting in early April.
In its report released Thursday, USDA said U.S. soybean export sales for the week ending February 5 totaled 283,100 metric tons across the 2025/26 and 2026/27 marketing years. The figure fell below the low end of trade expectations, as analysts surveyed by The Wall Street Journal had projected sales of up to 1.1 million metric tons.

Wheat futures are trading higher at midday. March Chicago wheat futures are up 8 cents at $5.45-1/4, Kansas City wheat futures are higher by 7-1/4 cents at $5.45-3/4, and MGEX spring wheat futures are up 4-1/4 cents at $5.74-1/2.
This morning, USDA reported net wheat export sales of 488,000 metric tons for the 2025/26 marketing year, along with an additional 13,900 metric tons booked for 2026/27 delivery.
The cereal markets drew support from a softer U.S. dollar, with wheat receiving an additional boost Wednesday from investor short-covering. However, ample global supplies continued to cap upside potential and limit follow-through buying.

Matthew Lucas