TFM Morning Update 08-18-2026

CORN

Corn futures are trading higher to start the day following another drop in good to excellent ratings. September corn is up 2-1/2 cents to $4.67-1/2 while December is up 2-3/4 cents to $4.92-1/4. December corn is at the highest level since May 2026.
Yesterday’s Crop Progress report saw the good to excellent rating for the corn crop fall by one point to 60% which compared to 71% a year ago. The poor to very poor ratings increased by 1 point. 97% of the crop is silking, 76% is in dough stage, and 29% is dented.
The Pro Farmer Crop Tour results are in for Ohio and South Dakota. In Ohio they found average yield at 180.18 bpa which compares to 185.69 bpa last year. In South Dakota the average was 149.09 bpa which compared to 174.18 bpa last year.

Soybean futures are trading higher again to start the day amid falling crop ratings and low pod counts in the crop tour. September soybeans are up 7-1/2 cents to $12.08-1/2 while November is up 8-1/4 cents to $12.24-1/4. September soybean meal is up $3.40 to $315.40 and soybean oil is up 0.15 cents to 71.60 cents. NOPA crush came in below the estimate of 221.5 mb at 216.65 mb but was above last month’s crush.
The Crop Progress report saw soybean ratings down 1 point good to excellent at 61% which compared to 68% at this time last year. 96% of the crop is blooming and 85% is setting pods.
The Pro Farmer Crop Tour found pod counts in Ohio at 1197.25 per 3×3 plot which compared to 1287.28 last year. In South Dakota pod counts were 945.98 which compared to 1188.45 last year. Better yields are expected in the eastern states.

Wheat is mixed this morning with September Chicago wheat down 1 cent to $6.73-3/4 while KC is up 1/2 cent to $7.59-1/4 and Minn is up 4-1/2 cents to $6.79-1/2. Fighting between Russia and Ukraine has brought significant volatility to the wheat complex.
The Crop Progress report saw the spring wheat good to excellent rating improve by 1 point to 52% which compares to 50% at this time a year ago. The spring wheat harvest is now 41% complete while the winter wheat harvest is 96% complete.
Yesterday’s export inspections report was good for wheat at 493.4k tons which compared to 485.9k a week ago and 403.0k tons a year ago at this time. Top destinations were to Japan, Mexico, and Indonesia.

Amanda Brill