TFM Midday Update 01-08-2026

CORN

Corn futures are slightly higher at midday, as the market shows strong demand for U.S. corn. March futures are up half a cent to $4.47-1/4.
Weekly corn export sales totaled 15 mb, which was a marketing year low. However, year-to-date commitments now sit at 2.004 billion bushels, which is up 30% compared to last year.
Bloomberg pre-report estimates for Monday’s WASDE show U.S. ending stocks down to 1.986 billion bushels, along with yield cut to 184 bpa from 186 bpa last month. Quarterly stocks are seen increasing to 12.981 billion bushels, up from 12.075 billion bushels last year.
LSEG has lowered their corn production forecast for Brazil by 1% from their previous estimate to 137.9 mmt.
Brazil’s corn exports during the month of December grew 43.6% year-over-year. Iran and Egypt accounted for most of the purchases with Iran increasing South American demand by nearly 97% compared to last December.

Soybeans continue to trade lower at midday, pressured by rainfall in South America. March soybeans are down 3-1/2 cents to $10.63-1/2.
Weekly soybean export sales came in at 32 mb, bringing year-to-date commitments to 1.050 billion bushels, which is down 29% from a year ago.
Pre-estimates for Monday’s WASDE expect to show ending stocks up 4 million bushels to 294 million bushels. Yield is seen dropping slightly from 53 bpa to 52.7 bpa.
Brazil’s soybean exports in December increased nearly 69% from last year. China accounted for 77% of the total soybean sales during the month.

Wheat prices are finding strength at midday, following the corn market higher. March Chicago is up 3-00 cents to $5.21-00, March KC is 2-00 cents higher to $5.33-1/2, and March Minneapolis is 2-3/4 cents higher to $5.73-3/4.
Weekly export sales for wheat remain decent, coming in at 4.4 mb. Year-to-date commitments are up 18% from a year ago at 739 mb.
U.S. ending stocks for wheat are projected to be lowered to 896 mb, down from last month’s 901 mb. Winter wheat is also expected to drop from 33.2 million acres last season to 32.4 million acres this season. Quarterly stocks are expected to increase about 100 million bushels to 1.637 billion bushels.

Tanner Wilson