TFM Midday Update 10-15-2026

CORN

Corn futures are facing pressure at midday, posting slight losses. December corn is 2 cents lower at $4.78-3/4, while March corn is 1-3/4 cents lower at $4.92-1/2.
Harvest progress remains slower than normal, with 33% of the U.S. corn crop harvested compared with the five-year average of 39%. A wetter Corn Belt forecast could continue to limit fieldwork and provide some near-term support.
The October WASDE continues to weigh on the market after USDA raised the U.S. corn yield to 181.2 bpa and production to 16.034 billion bushels. Despite stronger demand projections, 2026/27 ending stocks increased to 1.849 billion bushels, keeping the supply outlook comfortable.

Soybean futures are trading lower despite another flash sale of U.S. soybeans today. November soybeans are 7 cents lower at $12.70-1/4, while January soybeans are 7-1/4 cents lower at $12.84-3/4.
USDA confirmed another flash sale of U.S. soybeans to China, marking the second consecutive day the agency has reported a large soybean sale to the country.
USDA reported a flash sale of 330,000 MT of U.S. soybeans to China for delivery during the 2026/27 marketing year. The agency also reported an additional sale of 283,450 MT of soybeans to unknown destinations for 2026/27 delivery.

The wheat complex is trading higher across the board at midday. Looking at December contracts, Chicago wheat is 2-1/4 cents higher at $6.75-1/2, Kansas City wheat is 4 cents higher at $7.19, and Minneapolis spring wheat is 1/2 cent higher at $6.90-1/2.
Concerns over potential disruptions to Black Sea trade from the Russia-Ukraine war have been partially offset by increased Russian wheat shipments through alternative Baltic export routes.
The U.S. Dollar Index reached an 18-month high Wednesday before easing Thursday. Recent dollar strength has pressured U.S. wheat export prospects by making U.S. supplies more expensive for foreign buyers.

Matthew Lucas