TFM Midday Update 11-11-2025

CORN

Corn futures are trading slightly higher at midday, building on yesterday’s momentum. December corn is sitting at $4.30-3/4, up 1-00 cent while March futures are 1-1/4 cent higher to $4.45-3/4.
According to a Bloomberg survey, corn harvest in the U.S. is seen as 92% complete, up from 85% last week.
Safras has raised Brazil’s corn production estimate to 143.562 mmt, up slightly from the group’s previous estimate of 142.494 mmt.
Thailand has vowed to increase their U.S. corn feed import quota to 1 million tons. This comes after a trade deal was made. The new quota for 2026 will also include a 0% tariff rate.

Soybeans are seeing a small pullback at midday after yesterday’s strong trade. January futures are down 3-1/2 cents to $11.26-1/2 with March futures 2-1/2 cents lower to $11.36-3/4.
U.S. soybean harvest is seen at 96% done, up 5% from last week and on par with harvest pace through the same week last year.
According to AgRural, Brazil’s soybean planting is seen at 61% complete, up from 47% the week prior, but down from 67% through the same week last year.

Wheat prices are mixed at midday as the trade awaits Friday’s Supply and Demand report. December Chicago futures are down 00-3/4 cent to $5.35-00, December KC wheat is 3-1/4 cents lower to $5.23-3/4, and December Minneapolis futures are 3-1/4 cents higher to $5.67-1/2.
Winter wheat planting advanced to 96% done according to a Bloomberg survey. This is up 4% from last week and 5% ahead of last year’s pace.
SovEcon sees Russia’s total wheat crop at 83.8 mmt, down from the group’s previous forecast of 87.8 mmt.

Tanner Wilson