TFM Morning Update 08-31-2026

CORN

Corn futures are mixed to start the day and are trading quietly overall as losses in wheat likely cap gains. December corn is down 1/4 cent to $5.36-1/4 and March is down 1/2 cent to $5.50-3/4. Some deferred months are up slightly. There were 90 deliveries against September corn.
Weekly grain exports from Ukraine increased in the period between August 20 through 26. The total increase in grain exports was 28% to 240,900 metric tons between wheat, corn, and barley, but corn exports totaled 58,900 tons.
Friday’s CFTC report saw funds as buyers of corn as of August 25. They bought 126,008 contracts of corn which increased their net long position to 376,513 contracts and are reaching a record position.

Soybean futures are trading lower to start the week but made new contract highs overnight. Traders may be taking profits before the end of the month. There were no deliveries against soybeans but there were 800 against September bean oil.
November soybeans are down 6-1/2 cents to $12.81-1/2 and March is down 5-3/4 cents to $12.97. October soybean meal is down $3.40 $339.10 and October soybean oil is down 0.86 cents to 69.90 cents.
Friday’s CFTC report saw funds as buyers of soybeans last week. They bought 46,592 contracts which increased their net long position to 198,254 contracts. They sold 9,795 contracts of bean oil leaving them long 88,442 contracts and bought 14,012 contracts of bean meal leaving them long 97,036 contracts.

The wheat complex is trading lower and dragging the grain complex down with it. December Chicago wheat is down 12-1/2 cents to $7.71-3/4, KC is down 12 cents to $8.32-1/4, and Minn is down 6-1/2 cents to $7.62-3/4. There were 9 delivereis against Sep Chicago wheat and 143 against KC.
Russian September wheat exports are expected to be the lowest since 2010 and may only reach between 1.8 and 2.3m tons. This would be down between 52.1% and 62.5% year over year. In addition, Russia’s Rostov region just declared a state of emergency after attacks disrupted major ports in the Black Sea basin.
Friday’s CFTC report saw funds as buyers of wheat. They bought 12,314 contracts of Chicago wheat reducing their net short position to 14,171 contracts and bought 9,227 contracts of KC wheat leaving them long 44,062 contracts.

Amanda Brill