TFM Morning Update 08-19-2026

CORN

Corn futures are trading higher again this morning as the crop tour continues to show lower than expected yields. September corn is up 1-3/4 cent to $4.65 while November is up 2 cents to $4.90. Resistance for December corn is at the May high of $5.06-1/2.
Estimates for weekly ethanol production before the EIA report see production below last week at 1.111 million barrels per day while stockpiles are estimated at 24.603m bbl which would compare to 24.798m a week ago.
The Pro Farmer Crop Tour results are in for Indiana and Nebraska. In Indiana they found the average yield at 183.54 bpa which compares to 193.82 bpa last year as fields are too wet. In Nebraska, the average was 163.61 bpa which compared to 179.50 bpa last year.

Soybean futures are trading sharply higher this morning after yesterday’s prices started strong and succumbed to profit taking later in the day. September soybeans are up 10-1/2 cents to $12.11-1/4 while November is up 11-1/4 cents to $12.28. September soybean meal is up $2.10 to $315.10 and September soybean oil is up 0.70 cents to 70.39 cents.
China has purchased US soybeans nearly every day over the past week. Yesterday they purchased 136,000 metric tons and in the 3 days before that they purchased a total of 505,000 mt, all for 26/27 delivery.
The Pro Farmer Crop Tour found pod counts in Indiana at 1318.64 per 3×3 plot which compared to 1376.59 last year. In Nebraska pod counts were 1219.62 which compared to 1348.31 last year. Excess moisture is becoming a problem in some states.

Wheat is trading quietly to start the day despite fresh aggressions between Russia and Ukraine. September Chicago wheat is up 3/4 cent to $6.65-1/4, KC is down 3-1/4 cents to $7.40-1/2, and Minn wheat is down 1-3/4 cents to $6.74-1/2.
Fighting escalated in the Black Sea last night with Russia and Ukraine firing on one another. Russia said it struck two cargo ships near Odesa while at least five grain ships were attacked near the Russian Black Sea ports. The exports of both countries will be down significantly.
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.

Amanda Brill