TFM Midday Update 7-28-2026

CORN

Corn futures are trading higher at midday, supported by falling crop conditions. December futures are 7-00 cents higher to $4.81-00.
Monday’s Crop Progress report showed good-to-excellent ratings falling to 63%. This is down from 67% the week prior.
According to AgRural, Brazil’s Center-South region corn harvest jumped to 60% complete. This compares to 49% harvested last week, and 68% done through the same week a year ago.

Soybeans are starting to reverse higher at midday on support from weakening crop conditions. November soybeans are up 3-1/2 cents to $12.17-1/4.
Yesterday’s Crop Progress report saw soybean ratings falling more than expected. Good-to-excellent ratings are now at 63% good-to-excellent, compared to 66% good-to-excellent last week.
Weather forecasts are showing additional precipitation through much of the Midwest through the end of the week, which may help alleviate some concerns of poor crop quality after the recent heatwave.

Wheat futures are trying to turn higher along with corn, but a higher dollar is keeping upside potential limited. December Chicago is up 3-00 cents to $6.80-1/2, December KC is 1-¼ cents higher to $7.46-3/4, while December Minneapolis is down 1-3/4 cents to $7.26-3/4.
Spring wheat conditions held steady at 53% good-to-excellent while 2% of the crop is harvested. Winter wheat harvest has now reached 81% completion. This compares to 74% last week and 79% done through the same week last year.
War tensions between Russia and Ukraine remain prominent with the Kremlin reporting that the “special military operation” must succeed. Both sides don’t appear to want a ceasefire agreement.

Tanner Wilson