TFM Morning Update 05-27-2026

CORN

Corn futures are trading slightly lower this morning with lower crude pressuring the grains, but a new dry forecast for June possibly lending some support. July corn is down 2 cents to $4.55-3/4 while December is down 1-1/2 cents to $4.80-1/2.
Yesterday’s Crop Progress report showed the corn crop as 86% planted, which compared to 76% a week ago, last year’s 86%, and the 5-year average of 83%. 60% of the crop is emerged, which compares to the 5-year average of 58%.
Yesterday’s export inspections were good for corn and within analyst estimates at 1,582k tons, which compared to 1,400k tons the previous week and 1,419k a year ago. Top destinations were to Mexico, Japan, and the Korean Republic.

Soybean futures are just slightly lower to start the day as soy products are in the green. Lower crude oil should theoretically weigh down bean oil prices. July soybeans are down 1/2 cent to $11.85-1/2 while November is unchanged at $11.80-1/4. July soybean meal is up $1.30 to $329.90, while July bean oil is up 0.03 cents to 74.39 cents.
Yesterday’s Crop Progress saw that soybeans are now 79% planted in the US which compares to 67% last week, 75% a year ago, and the 5-year moving average of 68%. 49% of the crop is emerged, which compares to the average of 40%.
The export inspections report saw soybean inspections at 572k tons, which compared to 571k last week and 200k a year ago at this time. Top destinations were China, Egypt, and Mexico.

All three classes of wheat are trading lower this morning along with the rest of the grain complex. July Chicago wheat is down 9-1/4 cents to $6.26-1/4, KC down 7-1/4 cents to $6.69, and Minn down 3-1/4 cents to $6.88-1/2.
The Crop Progress report showed winter wheat ratings falling to their lowest level since 1986 at just 26%, down from 27% last week and 50% at this time last year. Spring wheat is 56% planted, which compares to 73% last week and the average of 79%.
Export inspections for wheat were seen at 368k tons, which compared to 236k tons last year and 563k a year ago at this time. Top destinations were to Japan, Mexico, and the Dominican Republic.

Amanda Brill