TFM Midday Update 09-18-2026

CORN

Corn is lower in midday trade as weather concerns are weighing on prices. December corn is 4 cents lower at 5.26-1/2.
Temporary harvest delays are expected across the central and northern Midwest over the next week due to weather conditions. However, harvest weather is expected to improve significantly during week two across the majority of the Midwest.
French crop conditions declined another 3% to a new historic low of 23% good to excellent, compared to 62% last year. Harvest is now 27% complete, well ahead of the average pace of 5%.
Argentina has planted 11.1% of its new-crop corn, and it is still too early for dryness in the Pampas region to be a concern.

Soybeans are trading lower at midday despite a morning sale, with the entire soybean complex showing weakness. November soybeans are 18 cents lower at 13.01-1/2.
USDA confirms the sale of 111,000 tons of U.S. soybeans for delivery to China in 2026/27.
Traders continue to await headlines this weekend following Treasury Secretary Bessent’s meetings with Chinese negotiators. Volatility is expected to remain elevated as U.S.-China talks are set to begin Thursday next week.
U.S. soybean area under drought conditions was unchanged this week, while the weather forecast across the upper half of the Midwest is expected to remain wet.

Wheat is sharply lower in midday trade as the U.S. dollar hit a one-and-a-half-month high this morning. December Chicago wheat is 15 cents lower at 7.12 and December Kansas City wheat is 15-1/2 cents lower at 7.79.
The U.S. is expected to see a wetter weather pattern across the Southern Plains over the next week, potentially reducing some of the weather premium in drought-affected areas and adding moisture back into the soil.
Globally, Romanian and Bulgarian wheat prices reached a 3.5-month high this week. Latvia is expected to begin testing shipments for potentially stolen Russian grain from occupied Ukrainian territories, while Ukraine’s weather bureau reports that 30% of the crop is experiencing inadequate soil moisture, adding some stress to the crop.

Lauren VandenLangenberg