TFM Midday Update 10-19-2026

CORN

Corn futures are struggling to start the week. December corn futures are down 6 cents at 468-1/4 while March futures are down 5 cents at 481-1/2.
Warm, dry conditions over the weekend and into this week should allow harvest to accelerate after progress lagged the average pace in recent weeks.
Managed money sold more than 85,000 corn contracts in the week ending October 13, reducing its net long position to 230,877 contracts.

November soybean futures are lower Monday after a poor finish to last week. November futures are down 7-1/2 cents at 1254 while March futures are down 6-1/2 cents at 1277-3/4.
USDA confirmed the sale of 114,000 MT of U.S. soybeans to China and another 261,000 MT to unknown destinations this morning, providing fresh evidence of export demand.
Soybean planting in Mato Grosso, Brazil’s largest producing state, surpassed 50% complete late last week, according to IMEA, as early-season rains continued to support progress. However, concerns remain that a strong El Niño could cause the rainy season to end earlier than normal, potentially threatening crop development if moisture declines prematurely.

December CBOT wheat futures are down 4 cents this morning at 656-1/2. December KCBOT wheat futures are down 1 cent at 703 while December spring wheat future are down 4 cents this morning at 672-1/2.
The Wall Street Journal reported over the weekend that Vladimir Putin had proposed a summit involving the U.S., China and Russia to discuss a potential deal to end the war in Ukraine. This headline is likely adding some pressure to grains to start the week.
Russia has submitted documents to China seeking approval to export winter wheat and winter barley from selected Russian regions, Interfax reports, citing Sergei Dankvert, head of agricultural watchdog Rosselkhoznadzor. Russian wheat exports to China rose sevenfold y/y to $17.6m in January-August, according to Chinese customs data.

Keegan Madigan