TFM Midday Update 08-17-2026

CORN

Corn futures are starting the week higher after widespread torrential rains across the Corn Belt over the weekend. September corn futures are 4-3/4 cents higher at 463-3/4 while December futures are 5 cents higher at 488-1/4.
Heavy rain continued across parts of Iowa, Illinois, and Indiana over the weekend, with swaths of central Illinois and Indiana receiving more than 6 inches in the past seven days. Localized flooding and reports of lodged and downed corn are beginning to surface.
A drier stretch is expected across much of the Midwest this week as the annual Pro Farmer Crop Tour gets underway. Results from the tour will be closely watched for additional insight into this year’s crop size and whether recent USDA yield estimates can be confirmed.

Soybean futures are leading the grain complex higher to start the week with November soybeans currently up 17-1/2 cents at 1210.
Soybeans are benefiting from sharply higher soybean oil futures to start the week. Stalled U.S.–Iran peace talks have lifted energy markets, while palm oil futures have climbed to multi-month highs amid concerns that El Niño could reduce production in Indonesia and Malaysia, which account for roughly 80% of global output.
China’s state-owned Sinograin has been auctioning stored soybeans in recent weeks, potentially to make room for incoming U.S. supplies following its recent purchases.
A drier stretch ahead across much of the Midwest could limit soybean yield potential in areas that have missed recent rains. Drought conditions have expanded this summer across Minnesota, the Dakotas, and Nebraska—four of the top 10 U.S. soybean-producing states.

Wheat futures are starting the week mixed. December Chicago wheat futures are 1-1/2 cents lower at 688 while December KC wheat futures are 3 cents lower at 764-3/4. Spring wheat futures 1-1/2 cents lower in their front month September futures trading at 677 currently.
After a strong finish last week, wheat futures are seeing some profit-taking to start Monday. Continued attacks have caused further infrastructure damage in both Russia and Ukraine, with grain export disruptions expected to persist.
Friday’s CFTC data showed managed money funds were slightly net short Chicago wheat and slightly net long Kansas City wheat as of last Tuesday.

Keegan Madigan