TFM Morning Update 09-29-2026

CORN

Corn futures are trading slightly higher this morning but are quiet overall following yesterday’s technical break lower. December corn is up 3/4 cent to $5.23-3/4 while March is up 3/4 cent to $5.37-1/4.
Yesterday’s Crop Progress Report saw corn ratings unchanged from last week at 57% good to excellent which compares to 66% a year ago. The harvest is now 18% complete compared to 13% last week, and although was above the average pace was slower than expected due to wet conditions.
Yesterday’s export inspections report saw corn inspections at 1,566k tons which compared to 1,960k last week and 1,539k tons a year ago. Top buyers were Mexico, Korean Republic, and Japan.

Soybean futures are trading higher following a 30 cent loss yesterday and technical breakout lower due to lack of soybean news in the US China discussion. November soybeans are up 3 cents to $12.91-1/4 while March is up 3 cents to $13.15. December soybean meal is down $1.10 to $358.20 and soybean oil is up 0.56 cents to 68.23 cents.
Yesterday’s Crop Progress saw soybean ratings unchanged from last week at 58% good to excellent which compares to 62% a year ago. Harvest is now 17% complete which is slightly below last year’s pace as rain delays some areas.
Yesterday’s export inspections report saw soybean inspections at 1,153k tons which was above estimates and compared to 770k last week and 611k tons a year ago. Top buyers were China, Egypt, and Japan.

All three wheat classes are trading lower this morning as pressure continues from yesterday’s action. December Chicago wheat is down 1 cent to $6.87-3/4, KC is down 6-1/4 cents to $7.39-3/4, and Minn is down 1-1/2 cents to $7.00-1/4.
Yesterday’s Crop Progress saw winter wheat now 27% planted which compared to 17% the previous week and behind last year’s pace of 32% at this time.
The export inspections report yesterday saw wheat exports slightly below estimates at 311k tons which compared to 340k last week and 874k a year ago at this time. Top buyers were the Philippines, Mexico, and Nigeria.

Amanda Brill