TFM Midday Update 5-26-2026

CORN

Corn prices continue to trade lower at midday, as planting progress is expected to improve significantly. July futures are down 3-3/4 cents to $4.59-1/2, while December is 2-1/4 cents lower to $4.84-1/4.
The US and Iran still don’t have a peace deal in place as many were expecting over the long holiday weekend, but optimism is still hanging around that a deal can get done.
The EU has reported that they will be suspending nitrogen fertilizer imports for the year.

Soybeans remain weak at midday as energy prices pull back to start the week. July futures are down 6-00 cents to $11.90-1/2 while November futures are 4-1/2 cents lower to $11.83-1/4.
Argentina announced they would be cutting their export tax on soybeans by 0.25% per quarter starting in January 2027.
Weather patterns over the next two weeks are expected to bring above normal temperatures with little to no rainfall. However, plenty of early Spring rain has led to a good amount of soil moisture, so the drying pattern isn’t of concern at the moment.

Minneapolis wheat is the strong leg of the wheat complex at midday. July Minneapolis wheat is up 3-1/2 cents to $6.93-00. July Chicago is down 6-1/4 cents to $6.40-00, while July KC is 2-1/4 cents lower to $6.79-3/4.
SovEcon say’s Ukraine’s wheat exports could jump to 21.2 mmt which would be up from 13.2 mmt for the current year. The group is also expecting larger stocks than expected, which may add additional pressure on wheat prices.
Australia’s next wheat harvest is seen dwindling by 41% year-over-year to 21.3 mmt according to a statement by Rabobank. The group cited low prices, dry weather, and the Iran war as reasons for a lighter crop.

Tanner Wilson