TFM Midday Update 09-02-2026

CORN

Corn is higher at midday with September corn up 4-3/4 cents at 5.26-1/4 and December corn is up 2-1/4 cents at 5.48-1/4.
Hot and dry conditions are expected to persist across much of the region over the next week, while the northern and northwestern Midwest have a strong chance of precipitation, which could help improve soil moisture conditions.
Corn used for ethanol in July was 474.7 million bushels, up 2.3% month over month and up 3.7% year over year.
Ethanol production slipped to 326 million gallons, down from 327 million the previous week, while going up 3.3% year over year.

Soybeans are mixed to higher at midday despite the morning sale. September soybeans are down 11-1/4 cents at 12.95-1/2 while January is up ¾ cents at 13.33-1/2.
USDA confirms the sale of 202,000 tons of U.S. soybeans for delivery to China in 2026/27.
USDA’s July crush came in at 221.9 million bushels, above the pre-report estimate of 220.1 million. July crush was 1.9% higher than June and up 8.2% from a year ago.
India’s soybean oil imports reached a record high in August, while palm oil imports climbed to a six-month high.
Precipitation over the next week will favor the northern and northwestern Midwest, while the central and eastern Corn Belt and southern two-thirds of the Plains are expected to remain hot and dry.

Wheat is mostly higher at midday, supported by continued geopolitical tensions and concerns over potential disruptions to global grain supplies. December Chicago wheat is 10-1/4 cents higher at 7.92-3/4 and Kansas City December wheat is 11-1/4 cents higher at 8.56-1/2.
Alternative export routes through Ukraine’s Danube ports have been tested, but they add approximately $50 per ton to export prices.
A drone attack on an airport in Leipzig, Germany, is being attributed to Russia, raising concerns that Moscow is testing NATO’s resolve to continue supplying weapons to Ukraine.
The U.S. Northern Plains have the best chance for precipitation over the next two weeks, while the southern two-thirds of the Plains, from the Nebraska-Kansas border southward, are expected to remain mostly dry with temperatures reaching above 100 degrees.

Lauren VandenLangenberg