TFM Midday Update 7-30-2026

CORN

Corn futures are trading higher at midday as the market finds support following this week’s pullback. September corn is up 2-1/4 cents at $4.51-1/4, while December corn is 2-1/2 cents higher at $4.74-1/4.
This morning, the USDA released its weekly Export Sales report, showing 362,900 metric tons of corn sold for the 2025-26 marketing year, along with an additional 1.06 million metric tons booked for the 2026-27 marketing year.
Crude oil futures are giving back a portion of Wednesday’s gains following the U.S. strikes on Iranian targets overnight. The pullback appears to be driven primarily by profit-taking after the previous session’s sharp rally in oil prices.

Soybean futures are finding support at midday following this week’s sharp losses. August soybeans are up 2-1/4 cents at $11.80-1/4, while November soybeans are 1-1/2 cents higher at $11.94-1/4.
In this morning’s weekly Export Sales report, the USDA reported 302,300 metric tons of net soybean export sales for the 2025-26 marketing year, along with an additional 1.33 million metric tons sold for the 2026-27 marketing year.
In addition to today’s weekly Export Sales report, the USDA also announced a new flash sale of 132,000 metric tons of soybeans to China for delivery during the 2026-27 marketing year. The sale marks the latest in a string of soybean purchases by China announced in recent weeks.

The wheat complex is trading higher at midday as renewed tensions between Russia and Ukraine add risk premium back into the market. Looking at the September contracts, Chicago wheat is up 12-3/4 cents at $6.73-1/2, Kansas City wheat is 16-1/4 cents higher at $7.41-3/4, and Minneapolis spring wheat is up 14 cents at $7.19.
This morning, the USDA reported 285,200 metric tons of net wheat export sales for the 2026-27 marketing year in its weekly Export Sales report.
Intensifying hostilities between Russia and Ukraine have heightened concerns over grain exports from two of the world’s largest wheat producers. The conflict has increasingly disrupted shipping activity in the Black Sea, prompting consultancy SovEcon to lower its forecast for Russian wheat exports during the current marketing year by approximately 4%.

Matthew Lucas