TFM Midday Update 10-13-2026

CORN

Corn prices are firm at midday, following the wheat market higher. December futures are up 3-3/4 cents to $4.86-3/4, while March futures are 3-00 cents higher to $5.00-1/4.
COFCO reported that China’s corn harvest is expected to increase 5 mmt to 8 mmt over last year’s production. The group also estimates that China’s corn imports for the 2026/27 season will be 3.5 mmt, down 170,000 mt from last season.
According to AgRural, first crop corn planting is at 44% complete, up 38% from a week ago, but down slightly from last year’s pace of 45% done through the same week.

Soybean futures are starting to find support at midday along with the rest of the grain complex. November futures are up 9-1/2 cents to $12.97-1/4, while January futures are 8-1/2 cents higher to $13.13-1/4.
According to AgRural, Brazil’s soy planting has now reached 15%, up from 7% last week and 1% quicker than last year’s pace.
COFCO says Chinese soybean imports could average 9.5 mmt per month for the fourth quarter. If realized, this would be up from last year’s imports of 8.5 mmt per month for the same time period.

Wheat prices are moving higher at midday, supported by ongoing war tensions between Russia and Ukraine. December Chicago is up 5-1/4 cents to $6.77-1/2, December KC is 8-1/4 cents higher to $7.23-1/2, and December Minneapolis is up 4-1/2 cents to $7.00-3/4.
Overnight, a Russian drone sank a ship off of Bulgaria and another strike landed at a cargo terminal in Ukraine. This is the latest string of attacks after Russia again rejected another cease-fire deal presented by Ukraine.
The Australian winter grain output is seen reaching 63 mmt for the 2026/27 season. If realized, this would be above the five-year average according to Rabobank. However, the Australian wheat crop is seen dropping 13.3% to year-over-year to 31 mmt.

Tanner Wilson