TFM Morning Update 09-04-2026

The CME and Total Farm Marketing Offices will be closed Monday, September 7, in Observance of Labor Day

CORN

Corn futures are trading slightly lower this morning but did take out yesterday’s high overnight. December corn is down 1/2 cent to $5.40-1/4 while March is down 1/4 cent to $5.55-3/4.
Yesterday’s export sales report was strong for corn with 1,157k tons reported which compared to 1,098k the previous week and 1,836k tons a year ago. Top buyers were Mexico, Colombia, and Spain.
A farmer survey conducted by Allendale has estimated the US 2026 corn yield at 178.7 bushels per acre which would lead to total production of 15.833 bb. This estimate falls in between the lower Pro Farmer number and higher USDA guess.

Soybean futures are trading lower to start the day in quiet trade overall. November futures took out yesterday’s high overnight but have not taken out Friday’s high. November soybeans are down 1/4 cent to $13.16 while March is down 1/2 cent to $13.36. October soybean meal is down $1.00 to $347.60 and soybean oil is down 0.53 cents to 69.10 cents.
Yesterday’s export sales report was good for soybeans with sales at 1,854k tons which compared to 2,552k last week. Top buyers were China, unknown, and Egypt. President Xi will meet with President Trump about trade at the end of this month.
Allendale has estimated the US 2026 soybean yield at 52.6 bpa with production at 4.515 bb. This estimate is below both the USDA’s and Pro Farmer’s guesses. The USDA may lower yield in this month’s WASDE report.

All three wheat classes are trading higher this morning as traders digest Putin’s claim to be considering a peace deal with Ukraine. December Chicago wheat is up 1-1/4 cents to $7.55-1/2, KC is up 3 cents to $8.18-3/4, and Minn is up 1 cent to $7.66-1/2.
Yesterday’s export sales report saw wheat sales at 314k tons which compared to 403k tons last week and 318k tons a year ago at this time. Top buyers were Mexico, the Philippines, and Egypt.
Asian buyers have reportedly turned to Australian and Argentinian wheat as disruptions in the Black Sea due to the war delay shipments and drive global prices higher. Indonesia, the world’s second largest wheat importer, is paying for sharply more for alternatives.

Amanda Brill