TFM Morning Update 02-18-2026

CORN

Corn futures are trading slightly higher this morning and are being supported by higher wheat prices. Corn has mainly been a follower over the past month. March is up 1-1/4 cents to $4.27-1/4 while December is up 1/4 cent to $4.60-1/4.
Analysts are expecting larger changes in the end-of-the-month Planting Intentions report. A Bloomberg survey shows that analysts expect corn plantings to come in 3.8 million acres below last year’s in favor of more soybean acres. Corn planted acreage is called at 95.0 ma.
Yesterday’s export inspections report was bullish for corn but hardly impacted the market. Inspections were 1,492k tons, above expectations, and compared to 1,610k last week and 1,623k a year ago. Top destinations were Mexico, Japan, and Colombia.

Soybean futures are trading higher to start the day on optimism over new biofuel blending quotas and strong crush numbers yesterday. March soybeans are up 7-1/4 cents to $11.41-1/4 while November is up 4 cents to $11.21-1/2. March soybean meal is up $0.60 to $306.40 and bean oil i sup 1.06 cents to 58.35 cents, a new contract high.
Strength is going to soybean oil as a result of the EPA’s expectations to send 2026 biofuel blending quotas to the White House this week. The White House typically takes 30 days to review these proposals.
Yesterday’s export inspections were good for soybeans at 1,203k tons which compared to 1,145k the previous week and 728k at this time a year ago. Top destinations were China, Egypt, and Japan.

All three wheat classes are trading higher this morning with support from cold weather in Ukraine. March Chicago wheat is up 7-1/2 cents to $5.45-1/4, KC wheat is up 8-1/4 cents to $5.47, and Minn wheat is up 1-3/4 cents to $5.70.
In Ukraine, farmers unions are saying that a cold snap across most of Ukraine following a thaw has led to ice forming on fields that will likely cause damage to the winter wheat crop. The country’s winter wheat crop accounts for 95% of production.
Yesterday’s export inspections for wheat were shown at 375k tons which compared to 581k last week and 251k a year ago. Top destinations were to Japan, Mexico, and the Dominican Republic.

Amanda Brill