TFM Midday Update 09-29-2026

CORN

Corn futures are shifting lower at midday, pressured by a softer wheat market. December futures are down 2-1/2 cents to $5.20-1/2, while March corn is 2-00 cents lower to $5.34-1/2.
Monday’s Crop Progress report showed corn ratings held steady from last week at 57% good-to-excellent. Harvest is on par with the 5-year average at 18%.
Wet weather continues through much of this week in Nebraska, Iowa, and parts of Illinois which will likely delay harvest until next week when drier conditions move through.
AgRural reported that Brazil’s first corn crop now sits at 34% planted, which is slightly ahead of last year’s pace of 32% done through the same week.

Soybeans remain higher at midday following yesterday’s break lower. November soybeans are up 6-1/4 cents to $12.94-1/2, while January soybeans are 7-00 cents lower to $13.10-00.
Yesterday’s Crop Progress report showed soybean ratings unchanged from the week prior at 58% good-to-excellent. Harvest is seen at 17% complete, which is in line with the 5-year average but slightly below last year’s pace of 18% done through the same week.
Lack of news from US/China summit has put some pressure on the market as optimism appears to be going away. Two additional meetings are scheduled to take place before the end of the trade agreement, which is set to end on January 10.

All three wheat classes are trading lower at midday, pressured by chances of rainfall and a rising dollar. December Chicago is down 1-1/4 cents to $6.87-1/2, December KC is 8-3/4 cents lower to $7.37-00, and December Minneapolis is down 4-1/4 cents to $6.97-1/2.
Winter wheat planting jumped 10% to 27% but is still down from last year’s pace of 32% complete and the 5-year average which sits at 34%.
Rain is expected to move through the Plains later this week, which should prove to be beneficial for the ongoing winter wheat planting.

Tanner Wilson