TFM Morning Update 02-20-2026

CORN

Corn futures are trading higher this morning, but altogether have traded quietly over the past month with little fresh news to drive prices. March corn is up 1-1/4 cents to $4.27 while December is up 1-1/4 cents to $4.62-3/4.
Yesterday’s Ag Outlook Forum showed that the US is estimated to plant 94.0 million acres of corn this year, which would be down from 98.8 ma last year. Trendline yield of 183.0 bpa would lead to ending stocks of 1.84 billion bushels.
Estimates for today’s export sales report see corn sales between 1,000k and 2,000k tons with an average guess of 1,550k. This would compare to 2,130k last week and 1,454k tons a year ago.

Soybean futures are trading slightly lower to start the day but remain near their recent highs with support from soybean oil. March soybeans are down 1-1/4 cents to $11.39-1/2 while November is down 2-1/2 cents to $11.15-3/4. March soybean meal is up $2.00 to $306.80 and soybean oil is down 0.51 cents to 59.16 cents.
Outlook forum estimates for soybeans see planted acreage for this season at 85.0 million acres, which would be up from 81.2 ma last year. A trendline yield of 53.0 bpa would point to ending stocks of 355 million bushels.
Estimates for today’s export sales report see soybean sales between 300 and 1,200k tons with an average guess of 606k tons. This would compare to 283k last week and 500k tons a year ago.

Wheat is mixed this morning with Chicago leading the way and scoring the highest prices since November of last year. March Chicago wheat is up 4-3/4 cents to $5.64-1/4, KC is up up 1/2 cent to $5.66, and Minn is down 1 cent to $5.81-1/2.
The Ag Outlook Forum estimated wheat planted acres for this year at 45.0 million, which would be down slightly from 45.3 ma last year. Trendline yield of 50.8 bpa would point to ending stocks of 933 mb.
Estimates for today’s export sales report see wheat sales in a range between 300 and 600k tons with an average guess of 392k tons. This would compare to 502k last week and 631k a year ago.

Amanda Brill