TFM Morning Update 06-09-2026

CORN

Corn is trading higher this morning following a slightly higher close yesterday which may be signaling a bottom. July corn is up 2-3/4 cents to $4.21-1/2 while December is up 2-3/4 cents to $4.48-1/2.
Yesterday afternoon’s Crop Progress Report saw corn ratings unchanged from the previous week at 67% good to excellent, and this compares to 71% year ago at this time. The crop is 97% planted with 86% emerged.
Yesterday’s export inspections for corn were better than expected at 1,911k tons which compared to 1,750k the previous week and 1,729k a year ago. Top destinations were to Mexico, Korean Republic, and Spain.

Soybean futures are mixed to start the day with the sell-off finally easing up . Yesterday’s close saw futures only slightly lower. July soybeans are down 3/4 cent to $11.15 while November is up 1/4 cent to $11.35-3/4. July soybean meal is up $3.40 to $306.10 and July soybean oil is down 0.16 cents to 74.40 cents.
Yesterday’s Crop Progress saw soybean conditions fall 1 point from last week as expected to 65% good to excellent. This compared to 68% at this time a year ago. 92% of soybeans are planted and 79% are emerged.
Yesterday’s export inspections were slow for soybeans at 398k tons which compared to 505k the previous week and 559k a year ago. Top destinations were to Egypt who took 119k alone, then Japan, and China.

All three wheat classes are trading higher again today as crop ratings remain very poor. July Chicago wheat is up 7 cents to $5.90-1/4, KC is up 5-3/4 cents to $6.35-1/2, and Minn is up 3 cents to $6.22-1/2.
Yesterday’s Crop Progress saw winter wheat crop ratings fall by 1 point to 25% good to excellent which compares to 54% last year. Spring wheat ratings improved by 5 points to 52% which compares to 53% last year. Spring wheat is 98% planted while winter wheat is now 11% harvested.
Yesterday’s export inspections saw wheat inspections at 320k tons which compared to 403k tons the previous week and 324k a year ago. Top destinations were to Mexico, Indonesia, and Venezuela.

Amanda Brill