TFM Morning Update 08-28-2025

The CME and Total Farm Marketing Offices will be closed Monday, September 1, in Observance of Labor Day

CORN

Corn is trading quietly on either side of unchanged with the September contract up 3/4 cent at $3.83-1/4 while December is unchanged at $4.06.
The ProFarmer tour brought up disease in the crop multiple times, and farmers who are finding corn rust are reporting heavy cases of it. This could cut effected yields by 20-40%.
Estimates for today’s export sales report see corn sales in a range between 1,000k and 2,600k tons with an average guess of 1,917k. This would compare to 2,833k last week and 1,509k a year ago at this time.

Soybeans are trading slightly lower with the September contract down 3/4 cent at $10.26-1/2 while November is unchanged at $10.47-1/2. October soybean meal is up $0.30 to $284.60 and October soybean oil is down 0.05 cents at $52.67 cents.
So far, China has made no new crop soybean purchases from the US, sourcing mainly from Brazil. As a result, basis in various parts of North Dakota that export through the PNW have seen basis fall between 1.50 and 1.80 under futures.
Estimates for today’s export sales report see soybean sales between 400k and 1,000k tons with an average guess of 733k. This would compare with 1,137k last week and 2,403k a year ago.

Wheat is mixed to start the day with September Chicago wheat down 1-1/2 cents to $5.00-3/4 while September KC wheat is unchanged at $4.85-1/2. Minneapolis wheat is slightly higher.
The Canadian wheat crop for 25/26 was seen rising to 35.5 mmt from previous estimates of 34.2 mmt according to Bloomberg. Canola production is seen 4.6% higher.
Estimates for today’s export sales report see wheat sales in a range between 400k and 700k tons with an average estimate of 533k tons. This would compare to 482k last week and 498k a year ago at this time.

Amanda Brill