TFM Morning Update 09-08-2025

CORN

Corn is trading lower this morning, but the grain complex is quiet overall ahead of Friday’s WASDE report. December corn futures are down 2 cents at $4.16 and March is down 2 cents at $4.34-1/2.
The export sales report saw corn sales at 1,836k tons which was down from the previous week’s 2,072k and compared to 1,649k a year ago. Top buyers were Mexico, Colombia, and Japan.
Friday’s CFTC report saw funds as buyers of corn. They bought back 19,199 contracts which reduced their net short position to 91,487 contracts. They might be buying back corn over fears of a yield cut this week.

Soybeans are trading mixed this morning with gains in the front months and slight losses in deferred. November soybeans are up by 1 cent to $10.28 while March is up 3/4 cent to $10.61-1/2. October soybean meal is up $0.50 to $281 and October bean oil is up 0.54 cents to 51.35 cents.
Export sales for soybeans were on the poor side at 795k tons which was down from 1,183k the previous week and 1,431k tons a year ago. Top buyers were unknown, Vietnam, and Japan.
Friday’s CFTC report saw funds as sellers of soybeans by 8,854 contracts which reduced their net long position to 11,964 contracts. They sold 14,542 contracts of bean oil and sold 27,811 contracts of meal.

All three wheat classes are trading higher this morning with the December Chicago wheat contract up 1 cent to $5.20-1/4 while December KC wheat is up 1-3/4 cents to $5.07-1/4. Wheat is about 6 cents off its contract low from last week.
Export sales for wheat were on the slow side at 319k tons which was down from 580k the week before and 330k a year ago at this time. Top buyers were Nigeria, Mexico, and the Philippines.
Friday’s CFTC report saw funds as sellers of Chicago wheat by 356 contracts which left them with a net short position of 81,943 contracts. They sold 6,000 contracts of KC wheat leaving them short 54,681 contracts.

Amanda Brill