TFM Midday Update 10-6-2026

CORN

Corn futures remain higher at midday, supported by quality concerns leading to ideas that the USDA will likely lower yields in Friday’s WASDE report. December corn is 5-00 cents higher to $5.02-1/4 while March corn is up 5-00 cents to $5.16-1/2.
Monday’s Crop Progress report showed corn ratings fall 3% to 54% good-to-excellent, which is a new seasonal low and is holding just above 2023’s level. Harvest is off to its slowest start in 7 years at only 23% complete.
According to AgRural, Brazil’s first corn crop planting stands at 38% complete, up from 34% last week, but slightly below last year’s pace of 40%.

Soybeans are firm at midday, driven by quality issues with the US crop. November soybeans are up 12-00 cents to $12.92-3/4, while March soybeans are 11-3/4 cents higher to $13.09-1/4.
Yesterday’s Crop Progress report showed soybean ratings falling 1% to 57% good-to-excellent. Harvest jumped 8% to 25% complete, which is the slowest pace in the last 6 years.
According to AgRural, soybean planting in Brazil has reached 7.3%, up from 3.4% from a week earlier but down from last year’s pace of 9% complete through the same week.

Wheat futures remain higher at midday, driven by escalating war tensions between Russia and Ukraine. December Chicago wheat futures are up 4-1/2 cents to $6.96-3/4, December KC is 10-00 cents higher to $7.52-1/4, and December Minneapolis futures are up 6-1/4 cents to $7.14-3/4.
According to Ukraine’s Agriculture Ministry, Ukraine has harvested 35.2 mmt of grains this season. Ukraine is expected to harvest nearly 60 mmt of grains in 2026 which is nearly identical to the 2025 season.
Russia has said this week that they will “intensify” attacks on the Kiev region of Ukraine. This continues to be a supportive factor for wheat prices early in the week.

Tanner Wilson