TFM Midday Update 2-26-2026

CORN

Corn futures are steady to slightly lower at midday after nearby contracts tested overhead structural resistance earlier in the session. May corn is unchanged at $4.42, while December futures are down 3/4 cent at $4.66-1/4.
USDA reported a flash sale of 178,000 metric tons of corn to Japan, including 154,000 tons slated for delivery in the 2026/27 marketing year and an additional 24,000 tons for 2027/28 delivery.
In its weekly report released Thursday, USDA said corn export sales for the combined 2025/26 and 2026/27 marketing years totaled 697,500 metric tons for the week ended February 19. That figure fell short of analyst expectations, which had ranged from 900,000 to 1.8 million metric tons.

Soybean futures are lower at midday amid continued intraday volatility. May futures are down 10 cents at $11.55, while November soybeans are 5-1/2 cents lower at $11.22-1/2.
Soybean futures on the CBOT are trading higher in the premarket, though analysts continue to monitor the pace of Brazil’s harvest. With a record crop expected out of Brazil, recent gains in futures may be encountering short-term resistance.
Soybean export sales for the week totaled 407,100 metric tons, coming in at the lower end of analyst expectations.

The wheat complex is mixed at midday. Chicago wheat futures are up 1-1/4 cents at $5.71, Kansas City futures are down 4-1/4 cents at $5.60, and Minneapolis spring wheat is off 1/2 cent at $5.96-1/2.
Ukrainian state weather forecasters reported that, as of February 10, conditions for winter crops have been generally satisfactory since the start of the season. That assessment has helped ease concerns about potential crop damage from recent cold snaps.
Israel is reportedly set to boost imports of U.S. wheat as part of an effort to ease tariffs on goods it ships to the United States. The prime minister is said to be considering eliminating the current tax-free quota and raising levies to 50% on wheat feed imported from countries other than the U.S.

Matthew Lucas