TFM Midday Update 8-11-2026

CORN

Corn futures are weakening at midday, pressured by overnight rains and the upcoming WASDE report tomorrow. December futures are down 4-1/4 cents to $4.57-1/2, while March futures are 4-00 cents lower to $4.73-1/4.
Monday’s Crop Progress report showed corn ratings unchanged from last week at 61% good-to-excellent. 94% of the crop is silking, while 61% is in the dough stage. 16% of the crop is also dented.
Brazil’s corn harvest continues to advance with harvest now seen at 79% according to AgRural. This compares to 69% harvested last week and 88% a year ago.

Soybeans are facing selling pressure at midday ahead of tomorrow’s acreage and WASDE reports. November soybeans are down 14-00 cents to $11.65-1/2 while January soybeans are 14 cents lower to $11.80-3/4.
Yesterday’s Crop Progress report showed corn ratings falling 1% from the week prior to 62% good-to-excellent. 93% of the crop is blooming while 74% setting pods.
There’s some optimism that we could see some additional soybean purchases from China this week after they were seen buying last week.

All three wheat classes are trading lower at midday on some repositioning ahead of tomorrow’s USDA reports. December Chicago is down 11-1/2 cents to $6.47-3/4, December KC is 12-1/2 cents lower to $7.18-3/4, while December Minneapolis is down 9-3/4 cents to $6.85-1/4.
Winter wheat harvest now sits at 91%, which is on par with the 5-year average. Spring wheat ratings fell 4% to 51% good-to-excellent.
SovEcon has lowered their Russian wheat export forecast to 3.0-3.4 mmt for the month of August which is a 10 year low for the month. This also compares to 4.5 mmt exported in August of last year.

Tanner Wilson