TFM Midday Update 06-09-2026

CORN

Corn futures are trading higher at midday as selling pressure eases. July futures are up 1-3/4 cents to $4.20-1/2, while December futures are 1-3/4 cents higher to $4.47-3/4.
Monday’s Crop Progress report showed corn ratings unchanged at 67% good-to-excellent, which is behind last year’s crop condition of 72% good-to-excellent.
According to IMEA, the Mato-Grasso area of Brazil is leading the way during harvest with 5.85% of the crop now harvested. AgRural pegs the Center-South region at 4.4% complete, up from 24% a week ago.

Soybeans are weaker at midday, pulled down by the meal market. July soybeans are 2-1/2 cents lower to $11.13-1/2, while the November contract is down 3-1/4 cents to $11.32-1/4.
Yesterday’s Crop Progress report showed soybean ratings falling to 65% good-to-excellent, down 1 point from the week prior, and down from 68% a year ago.
Weather models remain friendly with rain in the forecast over the next seven days for parts of Kansas, Missouri, Iowa, Illinois, and Wisconsin.

All three wheat classes are trading higher at midday after the recent pullback across the complex. July Chicago is up 4-1/4 cents to $5.87-1/2, July KC is 6-00 cents higher to $6.35-3/4, and July Minneapolis is up 2-1/4 cents to $6.21-3/4.
Winter wheat ratings dipped 1 point from last week to 25% good-to-excellent, well below last years 54% good-to-excellent rating. Spring wheat ratings jumped 5% to 52% good-to-excellent, which is just behind last year’s rating of 53% good-to-excellent.
IKAR sees Russia’s wheat exports for May at 3.4 mmt, while the group sees no chance of June exports rising above 2.5 mmt.

Tanner Wilson