TFM Midday Update 10-14-2026

CORN

Corn is lower at midday with December corn down 4-1/4 cents at 4.78-1/2 and March corn down 4 cents at 4.92-1/2.
U.S. harvest progress is at 33%, behind expectations and the five-year average of 39%. South Dakota, Ohio, Iowa, and Michigan remain well behind schedule.
Dr. Cordonnier raised his corn yield estimate by 3 BPA to 180 BPA, but noted it was unusual for the USDA to raise yields when growing conditions have been declining in recent weeks.
AgRural reports that Brazil’s first-crop corn planting is 44% complete, in line with last year’s pace.

Soybeans are lower at midday despite positive news out of China and a morning flash sale. The entire soybean complex is trading lower at midday. November soybeans are 7-3/4 cents lower at 12.76, while January soybeans are down 8-1/2 cents at 12.91-1/2.
USDA confirmed the sale of 470,000 metric tons of U.S. soybeans to China for delivery in the 2026/27 marketing year, equivalent to approximately 17.3 million bushels.
China has purchased 8–10 cargoes of U.S. soybeans and is scheduled to auction off 504,000 metric tons of imported soybeans on October 20. China also imported 11.88 MMT of soybeans in September, down year over year but above the average.
U.S. harvest progress reached 46% complete, compared to the 50% average, coming in close to expectations. However, Iowa and Nebraska were nearly 30 percentage points behind their average pace due to weather-related delays.

Wheat is lower at midday as forecasted precipitation is expected to ease some drought concerns across the Southern Plains. December Chicago wheat is 4-1/2 cents lower at 6.64-1/2 while December Kansas City wheat is 5-3/4 cents lower at 7.06-1/2.
Winter wheat planting reached 51% complete, in line with expectations but behind the average pace of 58%.
Algeria purchased an estimated 660,000–720,000 metric tons of wheat in its international tender, with the supply likely to come from the Black Sea region.
Ukraine reported that winter wheat sowing is 67% complete, with generally favorable conditions. However, the country’s agricultural union expects wheat exports for the current marketing year to be capped near 11 million metric tons due to export restrictions, down from 14 million tons a year ago.

Lauren VandenLangenberg