TFM Midday Update 6-18-2026

The CME and Total Farm Marketing Offices will be closed Friday, June 19, in Observance of Juneteenth

CORN

Corn futures remain under pressure at midday as favorable weather forecasts continue to weigh on market sentiment. July corn is trading 3-3/4 cents lower at $4.17-1/4, while December futures are down 4-1/2 cents at $4.44-1/4.
The USDA released weekly export sales data this morning, reporting net corn sales of 1.16 million metric tons for the 2025/26 marketing year. In addition, an additional 519,000 metric tons were sold for the 2026/27 marketing year.
The corn market continues to face pressure as weather forecasts remain supportive of a strong U.S. production year. With forecasts calling for adequate moisture across much of the Corn Belt, traders remain focused on the potential for large yields and comfortable supplies.

Soybean futures have slipped lower at midday as the market loses interest in recent export demand rumors. July soybeans are trading 8 cents lower at $11.24, while November futures are down 6-1/2 cents at $11.42-1/4.
This morning, the USDA released its export sales report for the week ending June 11. For soybeans, the USDA reported net sales of 424,900 metric tons for the 2025/26 marketing year, with an additional 304,100 metric tons sold for the 2026/27 marketing year.
Combined export sales totaling 729,000 metric tons came in on the higher end of analysts’ expectations, which ranged from 400,000 to 850,000 metric tons.

The wheat complex is mixed at midday, with the winter wheat contracts posting losses while spring wheat is showing modest gains. Looking at July contracts, Chicago wheat is trading 6-1/2 cents lower at $6.06-1/4, Kansas City wheat is down 3-3/4 cents at $6.48-3/4, and Minneapolis spring wheat is 4-1/4 cents higher at $6.29-1/2.
This morning, the USDA released its weekly export sales report for wheat. For the 2026/27 marketing year, net export sales totaled 400,800 metric tons, with an additional 26,900 metric tons sold for the 2027/28 marketing year.
The wheat market is likely continuing to face pressure from the elevated U.S. Dollar Index, which is currently testing recent resistance levels. A stronger dollar tends to weigh on commodities by making U.S. exports more expensive and less competitive on the global market.

Matthew Lucas