TFM Morning Update 08-10-2026

CORN

Corn futures are trading slightly higher this morning as the market begins shifting its focus toward Wednesday’s August WASDE report. September corn is up 1/4 cent at $4.39-1/4, while December corn is also 1/4 cent higher at $4.62-1/4.
Iran and Oman have yet to finalize an agreement to reopen the Strait of Hormuz, while conflicting signals from Tehran and Washington have added uncertainty over how quickly a deal can be reached and normal shipping activity can resume.
The USDA will release its August WASDE report on Wednesday, August 12, which could keep the corn market choppy as traders position ahead of the report and await fresh direction. The primary focus will be on potential adjustments to U.S. corn yield and planted acreage estimates.

Soybean futures are trading higher this morning as the market finds support following recent weakness. September soybeans are up 4-3/4 cents at $11.63-3/4, while November soybeans are 5 cents higher at $11.81-1/4.
Traders are adjusting positions ahead of the USDA’s upcoming crop report this week, which will feature the first survey-based estimate of 2026 U.S. soybean yields along with updated harvested acreage. The new estimates could reshape expectations for the size of this year’s crop and the overall U.S. soybean supply outlook.
Weather forecasts have become less supportive for soybeans, with warmer and drier conditions expected across portions of the Midwest during August. The shift has raised concerns about moisture availability during the critical pod-filling period, adding uncertainty to U.S. soybean yield expectations.

The wheat complex is trading higher across the board this morning. Looking at the September contracts, Chicago wheat is up 7 cents at $6.46-3/4, Kansas City wheat is 10 cents higher at $7.24, and Minneapolis spring wheat is up 4 cents at $6.83-1/2.
Grain exports from the Black Sea region continue to face disruptions as intensified attacks linked to the Russia-Ukraine war threaten port infrastructure and shipping activity. Meanwhile, severe heat across portions of the U.S., Canada, and Europe has added concerns over crop yields and quality.
Extreme temperatures in France are expected to weigh on wheat production, while Canadian wheat acreage has declined from a year ago. Meanwhile, timely rainfall across key growing regions of Australia has improved yield prospects, prompting Rabobank to raise its Australian wheat production forecast to as much as 30 million metric tons.

Matthew Lucas