TFM Midday Update 08-06-2026

CORN

Corn is trading higher at midday as forecasts over the next week have added some support. December corn is 3/4 cent higher at 4.60-3/4.
Globally, France’s corn crop could fall to its lowest level in 50 years, with Expana lowering its EU corn production estimate to 49.1 million metric tons from 53.7 million metric tons last month. Meanwhile, Brazil’s increase in its ethanol blending mandate to 32% takes effect this week, providing additional support for corn demand.
Ukraine supplies 64% of the European Union’s corn imports, and with additional port attacks overnight, Black Sea exports continue to face disruptions. As a result, the U.S. could benefit from increased EU demand for corn in the coming months.
Corn export sales totaled 45 million bushels, coming in at the low end of trade expectations. Old-crop sales fell to a marketing-year low, while total export commitments reached 3.429 billion bushels, up 23% year over year and well ahead of the USDA’s current export forecast of a 16% increase.

Soybeans are trading higher at midday, supported by yesterday’s strong export sales. Strength across the entire soy complex is providing additional support to prices. September soybeans are up 1/4 cents at 11.56-3/4.
China purchased another 13 cargoes of U.S. soybeans yesterday, bringing its total new-crop purchases to nearly 6 million metric tons. That represents roughly 25% of its tentative commitment to purchase 25 million metric tons during the 2026/27 marketing year.
Major crop-producing areas across the U.S. are expected to see favorable weather, with highs in the 70s and 80s across the central and eastern Corn Belt through the middle of next week. Meanwhile, the hottest temperatures will remain confined to the Southern Plains and the far western Corn Belt.
Soybean export sales totaled 31 million bushels, falling below trade expectations. Old-crop sales also reached a marketing-year low, bringing total export commitments to 1.533 billion bushels, down 19% from a year ago, compared to the USDA’s current forecast of a 20% year-over-year decline.

Wheat is trading lower at midday as Black Sea wheat prices decline amid increased grain supplies moving through ports in Ukraine and Russia. December Chicago wheat is 8 cents lower at 6.53-1/4 while December Kansas City wheat is 10-1/2 cents lower at 7.20-1/2.
Russia attacked a wheat vessel at Ukraine’s Port of Odesa overnight, further disrupting Black Sea grain exports. Ukraine continues to seek alternative export routes, but viable options remain limited.
Expana lowered its European Union soft red winter (SRW) wheat production estimate to 126.8 million metric tons this morning, down from 128.3 million metric tons last month.
Wheat export sales totaled 11 million bushels, coming in at the low end of trade expectations. Year-to-date export commitments stand at 265 million bushels, down 30% from a year ago, compared to the USDA’s current forecast of a 15% year-over-year decline.

Lauren VandenLangenberg