TFM Morning Update 08-17-2026

CORN

Corn futures are trading higher to start the week as bullish sentiment continues with strong export sales and weakening yield numbers. September corn is up 1-1/2 cents to $4.60-1/2 while December is up 1-1/2 cents to $4.84-3/4. Ag Resource found that some of the crop in Illinois and Iowa is showing small ears and pollination issues.
In France, the recent drought could reportedly halve the maize crop and bring it to the lowest since 1976. The EU output will be the lowest in decades increasing the need for US purchases as Russia and Ukraine are struggling to export.
Friday’s CFTC report saw funds as sellers of corn as of August 11. They sold 15,176 contracts which decreased their net long position to 166,770 contracts. It is likely higher at this time.

Soybean futures are trading higher this morning as Chinese purchases support the market along with too much rain in certain areas that could cause disease or impact yields. September soybean are up 6-1/4 cents to $11.84 while November is up 5-1/4 cents to $11.97-1/2. September soybean meal is up $1.30 to $311.50 and Soybean oil is up 0.57 cents to 70.01 cents.
The NOPA US soybean crush for the month of July is estimated at 221.51 million bushels which would be a 4-month high in July, would be up 3.3% from last month and up 13.2% from a year ago at this time. Strong crush margins and strong demand are driving crush.
Friday’s CFTC report saw funds as sellers of 24,104 contracts of soybeans reducing their net long position to 101,362 contracts. They bought 241 contracts of bean oil leaving them long 80,922 contracts and sold 5,875 contracts of bean meal.

The wheat complex is trading lower this morning, but Chicago wheat took out Friday’s high overnight. Wheat is very volatile due to the war in Ukraine. September Chicago wheat is down 6 cents to $6.68-3/4, KC is down 5-3/4 cents to $7.48-1/2, and Minn is up 1 cent to $6.79-1/4.
The fighting between Russia and Ukraine continues after Russia denied an agreement to stop targeting civilian targets, and Ukraine has said a ship was damaged this weekend in a Russian attack on the Odesa port. Russian August grain exports are seen 55% lower year over year according to IKAR.
Friday’s CFTC report saw funds as sellers of wheat as of August 11. They sold 7,615 contracts of Chicago wheat increasing their net short position to 31,401 contracts. They sold 5,432 contracts of KC wheat leaving them long 27,662 contracts.

Amanda Brill