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10-03 Midday:  Grain Market Edging Higher at Midday

ByGrain Market Insider

Grain Market Insider Interactive Quote Board

  • Corn futures are starting to reverse higher, lifted by support in the soy complex. December corn is unchanged at $4.21-3/4, while the March contract is up 0-1/4 cents to $4.38-1/4.
  • S&P Global has reduced their U.S. corn yield projection by 3.6 bpa, to 185.5 bpa. This compares to the USDA’s estimate of 186.7 bpa.
  • According to FranceAgriMer, France’s corn harvest has advanced to 24% complete, up 10% from the week prior and on par with the 5-year average.

  • Soybeans are finding support at midday as the market digests some recent production estimates. November soybeans are 3-1/4 cents higher to $10.27-00, while the January contract is up 3 cents to $10.44-3/4.
  • S&P Global lowered its U.S. soybean yield estimate to 53 bpa, down from the group’s previous estimate of 53.8 bpa last month.
  • StoneX raised their soybean yield estimate to 53.9 bpa, up from their previous forecast of 53.2 bpa. This has also improved soybean production by 69 mb to 4.326 billion bushels.
  • The wheat market is mixed at midday, with Chicago leading higher. December Chicago wheat is 1-00 cent higher to $5.15-3/4, Minneapolis is up 0-1/2 to $5.61, and Kansas City is down 0-1/2 to $4.98-½.
  • The Buenos Aires Grain Exchange reported that sufficient soil moisture has been beneficial to Argentina’s wheat yields for the 2025/26 season. The group mentioned that wheat yields are near historic levels as a result of plentiful rainfall.
  • According to Ukraine’s agriculture ministry, 2026 winter wheat plantings are now up 9% from the prior forecast to 5.2 million hectares. The ministry cited drought conditions as the cause for the shift from corn and sunflowers to winter wheat.

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