TFM Morning Update 08-21-2026

CORN

Corn futures are trading lower this morning as yields in Iowa and Minnesota came in below last year but above the 3-year average. September corn is down 3 cents to $4.75-3/4 while December is down 3-1/4 cents to $5.00-1/4.
The Pro Farmer tour released results for Iowa and Minnesota and found that in Iowa corn yields averaged 193.98 bpa from 431 samples which compared to 198.43 a year ago but the previous average of 191.34 bpa. In Minnesota, yield was seen at 199.01 bpa from 216 samples and compared to 202.86 bpa a year ago and the average of 183.04 bpa.
Yesterday’s export sales report were below expectations for corn at 1,049k tons which compared to 1,335k a week ago and 2,820k last year. Top buyers were Mexico, Japan, and Colombia.

Soybean futures are trading lower this morning with September soybeans down 5-3/4 cents to $12.15 and November down 6-3/4 cents to $12.29-3/4. September soybean meal is down $2.50 to $313.20 and September soybean oil is down 0.02 cents at 71.16 cents.
The Pro Farmer tour in Iowa found pod counts in a 3×3 plot at 1362.93 which compared to 1384.38 last year, but is up from the average of 1295.70. In Minnesota, pod count was seen at 1257.80 which is up from last year’s 1247.86 and up well off the average of 1089.82.
Yesterday’s export sales report saw soybean sales within trade estimates at 1,808k tons which compared to 1,835k tons a week ago and 1,084k a year ago. Top buyers were China, Mexico, and Japan.

All three wheat classes are trading lower to start the day along with the other grains. September Chicago wheat is down 6-1/4 cents to $6.76-1/2, KC is down 10 cents to $7.52-1/4, and Minn is down 7 cents to $6.93-3/4.
Yesterday’s export sales report saw wheat sales within expectations at 394k tons which compared to 256k last week and 482k tons at this time a year ago. Top buyers were Mexico, Taiwan, and Thailand.
Fighting continues to escalate in the Black Sea 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.

Amanda Brill