TFM Morning Update 09-16-2025

CORN

Corn is trading higher this morning after futures saw some weakness yesterday. December futures are trading right at the 100-day average and need to close above it. December corn is up 3-1/4 cents to $4.26-1/2 and March is up 3 cents to $4.44.
Yesterday’s Crop Progress report was slightly friendly with crop ratings for corn falling by one point from last week to 67% good to excellent. This compares to 65% a year ago. 85% of the crop is dented, 41% is mature, and 7% is harvested.
Yesterday’s export inspections report saw corn inspections better than expected at 1,512k tons which compared to 1,443k last week and 569k a year ago. Top destinations were to Mexico, Japan, and Colombia.

Soybeans are higher to start the day and have so far taken back all of yesterday’s losses and more. November soybeans are up 6 cents to $10.48-1/2 and March is up 6 cents to $10.82-1/2. October meal is down $0.30 to $284.90 and October bean oil is up 0.64 cents to 52.40 cents.
Yesterday’s Crop Progress report saw soybean crop conditions fall by one point to 63% good to excellent which compared to 64% a year ago. 41% of the crop has dropped leaves and 7% is harvested.
Yesterday’s inspections were good for beans at 804k tons which compared to 468k last week and 474k a year ago. Top destinations were to Italy, Bangladesh, and Mexico.

Wheat is trading higher to start the day with December Chicago wheat up 3-1/2 cents to $5.28-1/2 while December KC wheat is up 3-1/4 cents to $5.17-1/4.
Yesterday’s Crop Progress report saw that the spring wheat harvest is now 94% complete which is ahead of the 5-year average of 92%. Winter wheat is 11% harvested which compares to the 5-year average of 13% at this time.
Yesterday’s export inspections were above expectations for wheat at 755k tons which compared to 429k last week and 590k a year ago. Top destinations were to Mexico, Indonesia, and the Korean Republic.

Amanda Brill