TFM Midday Update 08-20-2026

CORN

Corn is firm at midday, supported by low yields found during the crop tour. December corn is 7-1/4 cents higher to $5.05-1/4, while March corn is up 6-1/4 cents to $5.20-00.
Corn exports were in line with expectations at 41 mb. Old crop sales have reached 3.454 billion bushels, which is up 25% year-over-year.
Lower expected yields in Iowa and Illinois, along with a sharp drop in the US dollar, remain positive for the corn market this week.

Soybeans remain higher at midday, supported by expectations of lower yields in next month’s WASDE report. November soybeans are up 6-00 cents to $12.43-1/4, while January soybeans are 6-1/2 cents higher to $12.57-3/4.
Soybean export sales totaled 66 mb, which was in line with trade expectations. Old crop commitments sit at 1.539 billion bushels, which is down 18% year-over-year.
China’s US soybean imports for the month of July were up 164% from a year ago. However, January through July imports from the US are down 38% while imports from Brazil are up 5.3% during the same span. There are still concerns that China may take more from South America vs the US.

All three wheat classes are trading higher at midday on support from a lower dollar and higher corn market. December Chicago wheat is 9-1/2 cents higher to $7.07-00, December KC is up 7-00 cents to $7.83-3/4, and December Minneapolis is 7-3/4 cents higher to $7.27-1/2.
Wheat export sales were also in line with trade expectations, totaling 14.5 mb. Year-to-date commitments total 289 mb, which is down 32% from a year earlier.
Black Sea attacks continue to be supportive for wheat contracts. Russia attacked a cargo ship and the Chornomorsk port overnight. This has hurt Ukraine’s exports, which right now only sit at 20% of the monthly target for the month of August.

Tanner Wilson