TFM Midday Update 09-15-2026

CORN

Corn futures have reversed higher at midday, on support from the wheat market. December corn is up 00-3/4 cents to $5.34-00, while March corn is 00-3/4 cents higher to $5.48-/4.
Monday’s Crop Progress report showed corn ratings improving 1% to 57% good-to-excellent. This compares to 67% good-to-excellent a year ago.
Brazil’s CONAB is expected to update their forecast for corn production today. Expectations are to leave Brazil numbers unchanged at 143 mmt.

Soybeans are rebounding at midday after some early weakness. November soybeans are up 6-3/4 cents to $13.11-00, while January futures are 7-00 cents higher to $13.27-1/4.
Yesterday’s Crop Progress report showed soybean ratings unchanged from the week prior at 58% good-to-excellent. This compares to 63% good-to-excellent a year ago.
NOPA crush is expected to come in at 211.553 mb according to an analyst survey. If realized, this be down nearly 2.5% from July but up more than 11% from August of 2025.

Wheat futures are now trending higher at midday, driven by an overnight in Russia by Ukraine. December Chicago futures are up 4-00 cents to $7.26-00, December KC futures are 4-1/4 cents higher to $7.96-3/4, and December Minneapolis is up 6-1/4 cents to $7.42-1/2.
Ukraine attacked a Russian refinery overnight which failed to spark any rally early in the market. This attack follows yesterday’s comments from President Trump that Russia and Ukraine had agreed to not attack any energy infrastructures.
According to a Bloomberg survey of analysts, Canadian wheat production is seen at 38.3 mmt. If realized, this would be down from the 40 mmt produced last season.

Tanner Wilson