TFM Midday Update 09-03-2026

The CME and Total Farm Marketing Offices will be closed Monday, September 7, in Observance of Labor Day

CORN

Corn futures are trading lower at midday as the market faces profit taking. December corn is trading 13-¼ cents lower at $5.30-¼. March 2027 futures are trading 13 cents lower at $5.30-½.
The USDA reported weekly export sales Thursday morning, with net sales for the 2026/27 marketing year totaling 1.99 MMT. For the 2025/26 marketing year, net sales were reduced by 829,600 MT.
The USDA’s latest Crop Progress report showed the corn crop holding at 57% good to excellent as of August 30. Recent field assessments have indicated mixed and, in some areas, lower-than-expected yields, raising questions about the size of this year’s harvest. Meanwhile, Chinese officials are reportedly discussing purchases of U.S. agricultural products, including corn, ahead of a potential Trump-Xi meeting.

Soybean futures are trading lower at midday as the market faces profit taking following the recent advance. November soybeans are trading 6-3/4 cents lower at $13.03-½. January 2027 futures are trading 6-3/4 cents lower at $13.18-½.
The USDA reported weekly soybean export sales Thursday morning, showing a reduction of 94,200 MT for the 2025/26 marketing year. For the 2026/27 marketing year, net export sales totaled 1.95 MMT. The USDA reported an additional soybean sale this morning of 192,000 MT to China for the 2026/27 marketing year.
The USDA’s latest Crop Progress report showed U.S. soybean conditions deteriorating, with the share of the crop rated good to excellent falling 2 percentage points for the week ending August 30, adding to supply concerns ahead of harvest.

The wheat complex has slid lower at midday. In December contracts, Chicago wheat is 35 cents lower at $7.39, Kansas City wheat is 32 cents lower at $8.02-¼, and Minneapolis wheat is 27-¼ cents lower at $7.54-¾.
In Thursday morning’s weekly Export Sales report, the USDA reported net wheat sales of 313,500 MT for the 2026/27 marketing year.
Wheat futures are retreating from multi-year highs after Russian President Vladimir Putin said there was a chance of reaching a peace agreement to end the war in Ukraine. The comments triggered profit-taking following the market’s steep rally over the past month, which had been driven by concerns over disruptions to Black Sea grain exports from Russia and Ukraine.

Matthew Lucas