TFM Morning Update 07-14-2026

CORN

Corn futures are trading lower this morning taking back all of yesterday’s gains. Weather forecasts have shifted cooler, and corn ratings improved. September corn is down 5-3/4 cents to $4.35-1/4 while December is down 6 cents to $4.57-1/4.
Yesterday’s Crop Progress report saw corn ratings improve one point to 68% good to excellent. 34% of the crop is silking and 6% is in dough stage, both are ahead of the 5-year average pace.
Yesterday’s export inspections report saw corn inspections at 1,540k tons which compared to 1,735k last week and 1,314k tons a year ago at this time. Top destinations were to Mexico, Japan, and Vietnam.

Soybean futures are trading lower this morning after November reached $12.07 yesterday morning. August soybeans are down 6-1/4 cents to $11.90-1/2 while November is down 8-1/2 cents to $11.86-1/4. August soybean meal is down $1.90 to $315.30 while bean oil is down 0.19 cents to 72.62 cents.
Soybean crop ratings improved by 1 point to 65% good to excellent which was above expectations. A year ago, ratings were 70% good to excellent. 50% of the soybean crop is blooming while 19% are setting pods.
Yesterday’s export inspections were seen at 419k tons for soybeans which compared to 542k a week ago and 152k tons a year ago. Top destinations were to Egypt, Mexico, and China.

Wheat is trading lower this morning along with the rest of the grain complex. September Chicago wheat is down 5 cents to $6.30-1/4, KC wheat is down 5-3/4 cents to $6.60-1/2, and Minn wheat is down 2-3/4 cents to $6.50-1/2.
Spring wheat crop ratings improved by one point to 58% good to excellent. 72% of the spring wheat crop is headed which is on par with the 5-year average. 67% of the winter wheat crop is now harvested which is ahead of the average pace.
Yesterday’s export inspections for wheat were seen at 374k tons which compared to 147k a week ago and 445k tons a year ago. Top destinations were to Mexico, the Philippines, and Japan.

Amanda Brill