TFM Midday Update 08-18-2026

CORN

Corn futures are pulling back towards unchanged at midday. Both the December and March contracts are unchanged after starting the day slightly higher. December sits at $4.89-1/2, while March futures trade at $5.05-1/4.
Monday’s Crop Progress report showed corn ratings falling 1% to 60% good-to -excellent. This compares to 71% good-to-excellent during the same week a year ago.
Through day 1 of the Pro Farmer crop tour, results were underwhelming with a drop in yield and small ears being observed through South Dakota and Ohio.

Soybeans are showing some strength at midday on Chinese demand. November soybeans are 10-1/2 cents higher to $12.26-1/2 while the January contract is up 10-3/4 cents to $12.41-3/4.
The USDA flashed a sales announcement this morning of 136,000 mt of US soybeans sold to China for 2026/27 delivery.
Yesterday’s Crop Progress report showed soybean ratings falling 1% from last week to 61% good-to-excellent. This compares to 68% good-excellent through the same week last year.
NOPA crush for July came in below estimates at 216.647 mb. This was up 1.1% from the month prior and up 10.7% from July 2025.

Wheat classes are mixed at midday despite corn and soybeans trading higher. December Chicago wheat is down 1-3/4 cents to $6.87-1/2, December KC is down 3-1/4 cents to $7.68-1/2, while December Minneapolis is up 5-00 cents to $7.08-00.
HRS conditions were seen improving 1% to 52% good-to-excellent. This is up from 50% good-to-excellent a year ago. HRS harvest also advanced to 41% complete, up from 24% a week ago.
Black Sea threats continue to be prominent with Russia attacking fuel tanks at the port of Odessa overnight. Continued attacks between Russia and Ukraine are helping keep support in the market.

Tanner Wilson