TFM Midday Update 5-19-2026

CORN

Corn is trading slightly lower at midday as the market currently lacks direction. July futures are 1-3/4 cents lower to $4.75-1/4, while December futures are up 1-1/2 cents to $4.96-1/2.
Planting pace is on par with last year at 76% complete but is ahead of the five-year average which sits at 70%.
Weather over the next two weeks looks favorable over the Cornbelt which should be beneficial to the crop as planting nears the finish line.

Soybeans are mixed at midday, as the market digests the potential for new China demand. July soybeans are down 00-3/4 cents to $12.12-1/4, while November soybeans are trading 2-1/2 cents higher to $12.03-1/2.
It’s still unclear on what the breakdown will be for US ag commodities for the additional $17 billion dollar commitment from China to buy US ag products. However, many are expecting large purchases of soybeans which have given prices a boost to start the week.
US planting continues to be off to a hot start with 67% of soybean acres planted. This is up 4% from the same week last year and well ahead of the five-year average which sits at 53%.

Wheat prices are seeing two-sided action at midday, as the market tries to gain an edge on direction. July Chicago is the strong leg of the complex, up 2-1/4 cents to $6.66-3/4. July KC is up 1-00 cent to $7.04-3/4, while July Minneapolis is 00-1/2 cent lower to $7.27-1/2.
Again, optimism of the new China deal led wheat prices higher to start the week but with no clear indication of which commodities they will purchase leaves the market guessing. Any wheat purchases by China will likely result in bullish movement.
Wheat ratings dropped 1% to 27% good-to-excellent in yesterday’s Crop Progress report. Rain is in the forecast for the Plains states but is likely to late to be of much benefit.

Tanner Wilson