TFM Midday Update 5-18-2026

CORN

Corn is trading sharply higher to start the week after overnight headlines regarding last week’s meeting between the US and China. July corn is currently 19-1/4 cents higher at 475 while December corn futures are 15 cents higher at 496.
Headlines Sunday night indicated last week’s U.S.–China meetings resulted in a reported $17 billion trade agreement tied to U.S. agricultural goods. U.S. Trade Representative Jamieson Greer suggested the purchases are separate from previously agreed soybean commitments.
Higher crude oil prices are also supporting grain markets to start the week. The situation with Iran remains fluid, with markets weighing both peace negotiations and the possibility of escalating conflict if talks break down. Crude oil is currently up roughly 2%, trading near $103 per barrel.

Soybeans are recovering from last week’s losses to start the week. July soybeans are currently 37 cents higher at 1214 while November futures are 31 cents higher at 1201-3/4.
Higher energy prices along with headlines of agreements coming out of last week’s U.S./China trade summit are sending soybeans sharply higher to start the week.
Traders are looking for this afternoon’s Crop Progress report to show soybean planting has advanced to 65% to 67% done as of Sunday.

Wheat futures are following the wave of higher grain futures to start the week. July CBOT wheat is currently 24 cents higher at 659-3/4. July KCBOT wheat is currently 11 higher at 699 while July Spring wheat is 15 higher at 718-3/4.
Even after last week’s late selloff, U.S. wheat remains overpriced relative to competing origins. Reports of additional Polish wheat purchases by flour mills in the southeastern U.S., which had circulated in trade rumors, were confirmed Monday and underscore the competitiveness challenges facing U.S. wheat.
New-crop wheat commitments currently sit 42% below the same point in 2025, though old-crop commitments have outperformed, and some sales may carry over into the new year which begins on June 1.

Keegan Madigan