TFM Midday Update 8-21-2025

CORN

Corn futures are catching a bounce at midday with September futures trading 4-3/4 higher to $3.84-3/4 while the December contract is up 4-3/4 to $4.08-3/4.
Weekly corn export sales were once again strong, coming in above expectations at 112 mb. Year-to-date commitments total 2.776 billion bushels, which is up 26% from a year earlier.
According to the Buenos Aires Grain Exchange, Argentina’s corn planted area could be up 9.6% to 19.2 million acres this fall.
The US is looking into unfair trade practices as Brazil imposes an 18% tariff on ethanol imports from the US, according to the National Corn Growers Association. This comes in the face of a large crop looming in the US.

Soybeans are higher at midday, supported by strong export sales. November futures are up 10 to $10.46-00 while January futures are up 9-1/2 to $10.64-3/4.
Weekly soybean export sales totaled 42 mb, which was towards the upper end of trade expectations. Year-to-date commitment sit at 1.876 billion bushels, up 11.5% from last year.
The Pro Farmer crop tour has noted some exceptional yields but has also found some disease issues which could have an effect on final yield results.

Wheat prices are leaning lower at midday. December Chicago futures are 1-3/4 lower to $5.26-½, December KC is up 1/2 to $5.23-3/4, Minneapolis wheat is up 1/4 to $5.89-1/4.
Weekly export sales for wheat were lackluster, coming in at 19 mb. Year-to-date commitments total 424 mb, which is up 23% from last year and remains at a 5-year high.
SovEcon bumped Russia’s wheat forecast up from 85.2 mmt to 85.4 mmt for the 2025/26 season. The group cited favorable weather conditions as the reason for the increase in production.
LSEG left their wheat production estimate unchanged for the US, Canada, and Argentina. US is still pegged at 52.9 mmt, Canada at 35 mmt, and Argentina at 20.2 mmt.

Tanner Wilson