TFM Midday Update 8-27-2026

CORN

Corn futures are trading lower at midday as the market retraces following the recent move into overbought territory. September corn is trading 4-1/4 cents lower at $5.09-3/4, while December corn is 4 cents lower at $5.32-1/2.
In this morning’s USDA Export Sales report, old-crop corn sales totaled 31,200 MT for the 2025/26 marketing year, while 2026/27 sales reached 1.07 MMT.
Corn futures are facing profit-taking after the recent rally pushed the market firmly into technically overbought territory. Prices have advanced sharply over the past several sessions on growing U.S. yield concerns, encouraging some traders to take profits and creating a natural pause as the market consolidates its recent gains.

Soybean futures are trading slightly lower at midday as the market consolidates following its recent advance. September soybeans are trading 2-3/4 cents lower at $12.51-1/2, while November soybeans are 2-1/4 cents lower at $12.63-3/4.
In this morning’s USDA Export Sales report, old-crop soybean sales totaled 73,900 MT for the 2025/26 marketing year, while new-crop sales were considerably stronger at 2.48 MMT for 2026/27.
Soybean prices have been underpinned by growing optimism surrounding Chinese demand, as a recent wave of purchases has strengthened expectations that China will remain an active buyer of U.S. soybeans into the new marketing year. Strong new-crop export sales have reinforced that optimism, helping offset concerns surrounding the broader U.S.-China trade relationship.

The wheat complex is trading higher across the board at midday as the market continues to add risk premium amid ongoing tensions in the Black Sea region. Looking at September contracts, Chicago wheat is trading 10 cents higher at $7.40-1/2, Kansas City wheat is 11-1/4 cents higher at $8.03-1/4, and Minneapolis spring wheat is 12 cents higher at $7.33-1/2.
In recent weeks, Ukraine has targeted Russian grain-export terminals with drone and missile strikes, while Russia has increased attacks on Ukrainian export infrastructure, including ports, grain silos, and cargo ships. Russia and Ukraine typically account for nearly one-third of global wheat exports.
Extreme heat and drought in Europe, along with an emerging El Niño event, have also supported rising wheat prices. El Niño, which is characterized by warmer ocean temperatures, tends to reduce wheat yields in Australia and parts of Asia.

Matthew Lucas