TFM Morning Update 08-19-2025

CORN

Corn futures are lower this morning with September down 3-1/4 cents to $3.79-3/4 and December down 3-3/4 cents to $4.02-3/4. This comes following large yield numbers from the crop tour and good USDA crop ratings.
The ProFarmer Crop Tour has wrapped up in Ohio and in South Dakota. In Ohio, corn yield was estimated at 185.69 bpa which compared to 196 bpa from the WASDE report but is above last year’s 183.29 bpa. In South Dakota, yields were seen at 174.18 bpa which was above the USDA guess of 168 bpa.
Yesterday’s Crop Progress report saw corn ratings fall one point from last week to 71% good to excellent with 97% silking, 72% in dough stage, 27% dented, and 3% mature.

Soybeans are slightly higher with the September contract up 1/4 cent at $10.20-3/4. November up 1/4 cent at $10.41-3/4, Sep meal up $5.10 at $285.50, and Sep bean oil down 0.69 cents to 52.58 cents. Soybeans are now technically overbought.
The ProFarmer tour saw soybean results above last year in both Ohio and South Dakota. In Ohio, number of pods in a 3’x3′ plot were 1287.28 which compared to 1229.93 last year. In SD, they were 1188.45 compared to 1025.89 last year.
The Crop Progress report saw soybean conditions unchanged at 68% good to excellent with 95% of the crop blooming and 82% setting pods, both on par with the 5-year average.

All three wheat classes are trading lower with September Chicago down 2-3/4 cents at $5.00, and it did slip below that level overnight. Sep KC wheat is down 4-1/2 cents at $5.02. There has been talk about larger global production despite the USDA lowering that number in the WASDE report.
Spring wheat crop conditions rose 1 point from last week to 50% good to excellent with 36% of the crop now harvested, on par with the 5-year average. The winter wheat harvest is now 94% complete which is also on par with recent years.
Yesterday’s Export Inspections report saw wheat inspections at 395k tons which compared to 415k last week and 374k tons a year ago. Top destinations were Mexico, Japan, and Republic of South Africa.

Amanda Brill