TFM Morning Update 08-06-2026

CORN

Corn futures are trading unchanged to slightly lower as they sit near support at the 50-day moving average. September corn is unchanged at $4.36-3/4 while December is down 1/4 cent to $4.59-3/4.
According to the US weekly petroleum report, ethanol stocks fell by 0.8% to 25.525m bbl and analysts were expecting 24.51 million. Plant production came in at 1.107 million barrels per day which compared to the survey estimate of 1.106 million.
Estimates for today’s export sales report see corn sales for 25/26 between 200 and 600k tons while estimates for 26/27 are between 700 and 1,200k tons. There were rumors that China purchased US corn that didn’t come to fruition.

Soybean futures are trading quietly lower with little activity in the soy products. September soybeans are down 1/2 cent to $11.56 while November is down 1/2 cent to $11.74-1/4. September soybean meal is up $0.60 to $310.80 and soybean oil is up 0.03 cents to 67.75 cents.
China has booked 13 cargoes or 800,000 tons of US soybeans on Wednesday and is now nearing a quarter of its target to fulfill the the 25 mmt they pledged to purchase as a part of the trade truce.
Estimates for today’s export sales report see soybean sales for 25/26 between 100 and 400k tons while estimates for 26/27 are between 900 and 1,550k tons, a significantly higher amount bolstered by Chinese purchases.

Wheat is mixed to start the day with September Chicago wheat down 1/2 cent to $6.41-3/4, KC wheat down 2 cents to $7.11-1/2, and Minn wheat up 1-3/4 cents to $6.85-1/4.
Russian wheat prices fell by between 8 and 14.5% since July do to export disruptions from the war with Ukraine. Ukraine is now turning to alternate grain export routes as Russia continues to block ports in the Black Sea.
Estimates for the export sales report see wheat sales for 26/27 between 250 and 450k tons which would be on par with the prior 4-week average. There were rumors that China was looking to buy US wheat, but that has not yet happened.

Amanda Brill