TFM Midday Update 9-11-2026

CORN

Corn is lower at midday trade heading into the weekend, pressured by a pullback in energy prices. December corn is down 8-3/4 cents at 5.25-1/4.
USDA confirmed the sale of 264,000 tons of U.S. corn for delivery to Mexico during the 2026/27 marketing year.
Today’s supply and demand report estimates from Reuters call for new-crop ending stocks of 1.528 billion bushels, down from 1.653 billion in August. Yield is anticipated at 178.2 bushels per acre, down from 180.7 BPA in August.
Globally, French crop conditions fell another 1% to a historic low of 26% good to excellent, with harvest now 9% complete. Meanwhile, Argentina’s corn harvest is nearing 97% complete.

Soybeans are sharply lower at midday ahead of this afternoon’s WASDE report, with the entire soy complex trading lower. November soybeans are down 25-1/2 cents at 13.07.
Today’s supply and demand report estimates from Reuters call for a soybean yield of 52.5 bushels per acre, down from 52.7 in August, while harvested acres are unchanged from last month.
The Climate Prediction Center now sees a 75% chance that El Niño could become historic, potentially surpassing all records dating back to 1950.
In the U.S., the forecast through late next week shows heavy precipitation centered across Iowa, northern Missouri, and eastern Kansas. Temperatures are also expected to cool across the Midwest, with highs mainly in the 60s and 70s.

Wheat is trading lower this morning as the forecast shows rain potential across Kansas over the next week creeping farther into the west-central region, with the heaviest precipitation expected across the eastern half of the state. December Chicago wheat is 21-1/4 cents lower at 7.19-3/4 and Kansas City December wheat is 23-3/4 cents lower at 8.07-3/4.
Today’s USDA report will not include a production update, but ending stocks are anticipated at 718 million bushels, nearly unchanged from last month’s 717 million. World ending stocks are also not expected to change significantly.
Russia struck a ship at Ukraine’s Chornomorsk port overnight. Ukraine’s wheat exports since July 1 have totaled 2.031 million tons, well below last year’s 3.55 million tons.
French crop quality remains very strong, although soft red wheat production is estimated to be 4% below last year.

Lauren VandenLangenberg