TFM Midday Update 9-21-2026

CORN

Corn futures are starting the week higher across the board. December corn futures are 13 cents higher at 540-1/2.
More strikes hit Black Sea energy infrastructure over the weekend, although crude oil prices are lower to start the week.
Recent heavy rainfall across northern Illinois, eastern Iowa, southern Wisconsin and Minnesota likely stalled harvest progress over the weekend. Localized areas of eastern Iowa and northern Illinois received 8–9 inches in the last seven days, raising concerns about potential crop damage in the hardest-hit areas.

Soybean futures are rising Monday ahead of this week’s meeting between the White House and China on Thursday. November soybean futures are 18-1/2 cents higher at 1322.
Traders remain hopeful that soybeans will be part of this week’s U.S.-China trade discussions, particularly regarding China’s current 10% tariff on U.S. soybean imports. Sales to China and unknown destinations now total roughly 16 MMT for the current marketing year, leaving about 9 MMT to reach China’s 25 MMT purchase commitment.
Managed money is estimated to hold roughly 244,000 net-long soybean contracts and 185,000 soybean meal contracts heading into the week, leaving a sizable speculative position in both markets.

Wheat futures are higher across the board Monday. December CBOT wheat futures are 11-1/4 cents higher at 725-1/2. December KCBOT wheat futures are 10-1/4 cents higher at 794 while December Spring wheat futures are 5-1/2 higher at 746-3/4.
Weekend tensions and attacks continued between Russia and Ukraine, with Ukrainian drones reportedly striking a major Russian energy facility.
Better chances for precipitation are expected for the Plains states in the latest Monthly outlook from the CPC. This should help establishment ahead of winter dormancy.

Keegan Madigan