TFM Morning Update 09-15-2026

CORN

Corn futures are trading lower to start the day with prices appearing toppy on the chart as we head into harvest. December corn is down 4-1/4 cents to $5.29 while March is down 3-3/4 cents to $5.44-1/4.
The USDA’s Crop Progress report saw corn ratings improve by one point from last week to 57% good to excellent and harvest increase to 8% complete from 5% last week. Corn is maturing slightly ahead of normal pace, but less than half of the crop has reached maturity.
Yesterday’s export sales report saw good corn inspections totaling 1,525k tons which compared to 1,675k last week and 1,534k tons a year ago. Top destinations were to Mexico, Korean Republic, and Japan.

Soybean futures are trading lower this morning with pressure from soybean meal, and the November contract has been overbought for nearly a month and may be topping out. November soybeans are down 7 cents to $12.97 while March is down 7 cents to $13.21. October soybean meal is down $2.60 to $353.60 and soybean oil is up 0.15 cents to 69.80 cents with higher crude oil.
The Crop Progress report saw crop ratings for soybeans remain unchanged from last week at 58% good to excellent which compares to 63% at this time last year. 6% of the crop is harvested which is ahead of pace.
Yesterday’s export inspections were good for soybeans at 673k tons which compared to 465k last week and 823k a year ago. Top destinations were to China, Indonesia, and Japan.

All three wheat classes are trading lower this morning with December Chicago down 9 cents to $7.13, KC down 12 cents to $7.80-1/2. and Minn down 1-3/4 cents to $7.34-1/2. Pressure may be coming from an agreement between Russia and Ukraine to not strike energy targets.
The Crop Progress report saw the spring wheat harvest advance to 93% complete from 86% last week and 93% at this time a year ago. Winter wheat is now 8% planted compared to 2% last week and 10% a year ago.
Yesterday’s export inspections for wheat were 457k tons which compared to 431k last week and 758k tons a year ago. Top destinations were to Japan, Mexico, and Thailand.

Amanda Brill