TFM Morning Update 08-20-2026

CORN

Corn futures are trading higher as low yields from the crop tour keep the rally alive. September corn is up 3-3/4 cents to $4.76-3/4 while December is up 4 cents to $5.02. A decline in the US dollar has also supported grains.
Yesterday, the Pro Farmer tour was in Illinois and wester Iowa and found more disappointing yields. For Illinois, the corn yields based on 217 samples averaged at 184.19 bpa which compares to 199.57 bpa at this time last year. This is down 8%, and the USDA is only projecting yields in the state to fall by 1% from the previous year.
Estimates for today’s export sales report see corn sales in a range between 500 and 1,800k tons with an average guess of 1,017k tons. This would compare to 1,335k a week ago and 2,820k tons a year ago at this time.

Soybean futures are trading higher again and are nearing contract highs. September soybeans are up 1-1/2 cents to $12.23-3/4 while November is up 2-3/4 cents to $12.40. September soybean meal is up $1.30 to $320.20 and soybean oil is up 0.39 cents to 70.25 cents.
The Pro Farmer tour in Illinois saw soybean pod counts at 1430.37 by 3×3 plot and 215 samples which is down from 1479.22 from last year. This would be a 3% decline, but the USDA has estimated a 7% increase for the state.
Estimates for today’s export sales report see soybean sales in a range between 800 and 2,100k tons with an average guess of 1,267k tons. This would compare to 1,835k last week and 1,084k tons a year ago at this time.

All three wheat classes are trading higher to start the day. September Chicago wheat is up 5-1/4 cents to $6.85-1/2, KC is up 2-1/2 cents to $7.64-1/2, and Minn wheat is up 5-3/4 cents to $6.99-3/4.
Estimates for today’s export sales report see wheat sales in a range between 200 and 450k tons with an average guess of 325k tons. This would compare to 256k a week ago and 482k tons a year ago.
Fighting continues to escalate in the Black Sea with Russia and Ukraine firing on one another. Russia said it struck two cargo ships near Odesa while at least five grain ships were attacked near the Russian Black Sea ports. The exports of both countries will be down significantly.

Amanda Brill