TFM Midday Update 7-14-2026

CORN

Corn futures are trading lower at midday, pressured by better crop ratings and an increase to Brazil’s production. September futures are down 4-1/2 cents to $4.36-1/2 while December futures are 4-1/2 cents lower to $4.58-3/4.
Yesterday’s Crop Progress report showed corn ratings improving one point from last week to 68% good-to-excellent. This compares to 74% good-to-excellent through the same week a year ago.
Conab has increased their total corn production forecast in Brazil to 141.73 mmt, up from 140.46 mmt in the groups previous estimate.

Soybeans are still seeing some weakness at midday, pressured by improving conditions and global production increases. November soybeans are trading 5-00 cents lower to $11.89-3/4.
Monday’s Crop Progress report showed soybean ratings improving one point to 65% good-to-excellent. This compares to 70% of the crop being rated good-to-excellent a year ago.
Conab has raised their soybean production estimate in Brazil to 180.57 mmt, up from the groups previous forecast of 180.25 mmt.
NOPA crush is expected to show an increase in tomorrow’s report for the month of June. Average estimates of analysts peg crush at 203.989 mb. If realized, this would be up 10% from a year ago.

All three wheat classes are trading higher at midday, supported by lower production estimates in Brazil. December Chicago is up 3-1/2 cents to $6.54-00, December KC is trading 5-1/4 cents higher to $6.86-1/4, while December Minneapolis is up 00-3/4 cent to $6.75-00.
Spring wheat conditions improved 1 point from last week but are 4 points better than a year ago at 58% good-to-excellent. Winter wheat harvest advanced to 67%, up 8% from last week and 5% ahead of last year’s pace.
Conab has cut their wheat production estimate in Brazil to 6.03 mmt. This is down from the group’s previous forecast of 6.30 mmt.

Tanner Wilson