TFM Morning Update 08-14-2026

CORN

Corn futures are trading higher this morning as the market continues to seek direction following the August WASDE report. September corn is up 4-1/4 cents at $4.52-1/4, while December corn is also 4-1/4 cents higher at $4.76-1/4.
Thursday’s weekly Export Sales report showed 2025/26 U.S. corn sales of 411,000 metric tons (16.2 million bushels), coming in above market expectations. 2026/27 sales totaled 925,000 metric tons (36.4 million bushels), toward the low end of expectations, with Mexico and Japan the largest buyers of new-crop U.S. corn.
Brazil’s CONAB raised its estimate for the country’s second-crop corn production by 1.6 MMT to 111.03 MMT. This pushed total Brazilian corn production to 142.96 MMT, slightly above last year’s crop.

Soybean futures are trading slightly higher this morning. September soybeans are up 6-1/4 cents at $11.72-1/4, while November soybeans are 4-3/4 cents higher at $11.87.
Thursday’s weekly Export Sales report showed 2025/26 U.S. soybean sales of 2.8 million bushels, with an additional 64.7 million bushels sold for 2026/27. New-crop soybean demand remains firm, supported by continued Chinese purchases, with China, unknown destinations, and Taiwan the top destinations for the week.
China has now fulfilled roughly 17% of its commitment to purchase 25 MMT of U.S. soybeans this marketing year. The actual percentage could be higher if some recent sales to unknown destinations are ultimately confirmed as Chinese purchases.

The wheat complex is trading higher across the board this morning. Looking at September contracts, Chicago wheat is up 11-3/4 cents at $6.64-1/2, Kansas City wheat is 13-1/4 cents higher at $7.33-3/4, and Minneapolis spring wheat is up 7-1/2 cents at $6.76-3/4.
Thursday’s weekly Export Sales report showed 2026/27 U.S. wheat sales of 9.4 million bushels. Shipments totaled 18.0 million bushels, above the 15.2 million bushels per week needed to meet the USDA’s 775-million-bushel export forecast. Total 2026/27 wheat export commitments have reached 275 million bushels, down 32% from last year.
According to the USDA, 52% of U.S. winter wheat acres were experiencing drought conditions as of August 11, up 2 percentage points from the previous week. Spring wheat acres in drought jumped 5 percentage points to 63%. Expanding dryness across the Northern Plains remains a concern for the crop, but could also provide support to HRS wheat prices.

Matthew Lucas