TFM Midday Update 2-24-2026

CORN

Corn futures are slightly lower at midday, pressured by a higher dollar and weakness in the wheat complex. March futures are down 00-3/4 cent to $4.22-3/4 while the May contract is down 2-1/4 to $4.38-00.
Seasonality is playing into corn prices as there are no active weather threats to the US corn crop ahead of planting season. This has helped keep prices in a small trading range.
Ukraine’s Grain Lobby reported that corn production during 2026 could reach 29.878 mmt, up from 26.864 mmt in 2025. The group cited increased growing areas as the reason for the uptick in production.

Soybeans have moved higher at midday after some recent choppy price action. March futures are trading 6-1/4 cents higher to $11.40-1/2.
According to AgRural, Brazil’s soybean harvest is now seen at 30% which is lagging last year’s pace of 39% complete through the same time.
Indonesia’s palm oil exports were seen falling 14.41% from December to January, according to Intertek Testing Services.
Argentina’s soybean crush for the month of January totaled 2.270 mmt, down from 2.907 mmt a year ago.

Chicago and KC wheat are lower on the day, pressured by a slightly higher US dollar. Minneapolis is the strong leg of the complex trading 2-1/4 cents higher to $5.84-1/2. March Chicago is down 2-1/4 cents to $5.67-1/4 while March KC 4-1/2 cents lower to $5.55-1/2.
Chances of rain move into the Midwest and Plains states next week, which is also contributing some weakness to wheat prices at midday.
Ukraine’s Grain Lobby reports that wheat production in 2026 could reach 23.09 mmt, which if realized would beat 2025 production total of 22.44 mmt.

Tanner Wilson