TFM Midday Update 8-10-2026

CORN

Corn futures are trading near unchanged to start the week as grains wait in anticipation of Wednesday’s USDA WASDE report. December corn futures are 1/2 of a cent lower at 461-1/2.
Continued disruptions in the Black Sea region and reports that Iran has rejected U.S. peace talks are providing underlying support to the grain complex.
Funds are estimated to be about 180,000 contracts long corn heading into this week’s USDA report. Traders expect a slight reduction in the corn yield estimate along with an increase in demand.
Scattered showers are expected across the Corn Belt this week, followed by warmer temperatures returning around mid-month.

November soybean futures are 2 cents higher at 1178 to start the week as traders weigh weather uncertainty against Wednesday’s WASDE report.
Beyond Wednesday’s WASDE, traders will watch Thursday’s export sales report for confirmation of last week’s rumored and reported soybean sales to China.
The average trade estimate calls for USDA to leave the national soybean yield unchanged at 53 bpa in Wednesday’s report. If acreage is largely unchanged, carryout should remain near July’s estimate.

Wheat futures are starting the week mostly higher as turmoil in the Black Sea continues to provide support. September CBOT wheat futures are 6-1/4 higher at 646, September KCBOT wheat futures are 6 higher at 720 while September MIAX spring wheat futures are 1-1/4 cents lower at 677-3/4.
Export activity remained restricted in the Black Sea over the weekend after Russia struck Ukraine’s port of Odesa on Saturday, keeping uncertainty elevated around regional grain flows.
Funds are estimated to be net short 25,000–30,000 contracts of both Chicago and Kansas City wheat, leaving the market vulnerable to short-covering if bullish news emerges.

Keegan Madigan