TFM Midday Update 09-04-2026

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

CORN

Corn is modestly lower at midday trade with December down 3-4 cents at 5.40 and March corn down ½ cent at 5.55-1/4.
U.S. area under drought conditions rose 1% to 28%, while the area of milo experiencing drought increased 3% as the Southern Plains continue to remain hot and dry.
Argentina’s harvest is now 92.5% complete.
The UN expects global corn production to fall 61.1 million metric tons from last year, marking the largest year-over-year decline since 2018. EU production declines are expected to be significant, with corn yields cut another 1% to 6.59 metric tons per hectare. French production is expected to fall 35% year over year as crop conditions continue to deteriorate.

Soybeans are trading slightly lower at midday despite a morning sale announcement. November soybeans are down 3/4 cents at $13.15-3/4 and January soybeans are down ¾ cents at $13.31.
SinoGrain will auction another 68,000 metric tons of reserve soybeans next week as it prepares for additional U.S. soybean supplies. Geer said overnight that the upcoming U.S.-China summit, scheduled for about 20 days from now, could include announcements aimed at incentivizing U.S. grain and soybean purchases.
U.S. soybean acres experiencing drought conditions rose 2% to 30% this week. Precipitation over the next week is expected to be limited primarily to the northern Plains and northern Midwest, while temperatures are expected to remain unusually high.
USDA confirms the sale of 250,600 tons of U.S. soybeans for delivery to unknown destinations in 2026/27.

Wheat is mostly lower at midday as overseas tensions continue to pressure the market. December Chicago Wheat is down 13 cents at 7.41-1/2 while December Kansas City wheat is down 6-1/4 cents at 8.21-3/4.
Additional attacks were reported overnight in Odesa and Kyiv, despite public comments from Putin indicating that peace talks may be possible.
Asian buyers are turning to Australia and Argentina to replace Black Sea supplies, as U.S. grain remains more expensive.
U.S. winter wheat acres experiencing drought conditions rose 3% to 59%, up from 34% a year ago. Meanwhile, the area of HRS wheat under drought increased 2% to 82%.

Lauren VandenLangenberg