CORN

• Corn prices are softer at midday, following the rest of the grain complex lower. December futures are trading 1-3/4 lower to $4.30-00.
• Allendale’s farmer survey showed corn yield is seen at 187.52 bpa with production at 16.631 billion bushels which if realized would be a record high output.
• Argus Media has increased their corn production estimate for Ukraine by 4.4 mmt from the groups previous estimate to 31.3 mmt.

SOYBEANS

• Soybeans continue to trade lower at midday, pressured by lower energy prices and lack of optimism of China demand for US soybeans. November beans are trading 5-1/4 lower to $10.26-1/4.
• According to Rabobank, Brazil’s soy area is expected to expand by just 1.5% during the 2025/26 growing season. This compares the historical average soy expansion of 3.5%.
• The agricultural brokerage firm, Allendale, released their soybean crop estimates for this year’s crop based on a farmer survey. Soybean yield is seen at 53.58 bpa while production is expected to reach 4.292 billion bushels.

WHEAT

• All three wheat classes are weaker at midday, pressured by concerns that demand could start backing off as export competition increases. December Chicago what is trading 5-3/4 lower to $5.16-1/4.
• LSEG has raised their Australian wheat production estimate to 32.3 mmt, up 7.3% from the groups previous estimate.
• Rain fall is expected across the Southern Plains over the 7-10 days mostly driven by hurricane Lorena. This may cause some delays in harvest for the region.

Author

Tanner Wilson