TFM Midday Update 6-16-2026

CORN

Corn prices are finding some support from a stronger soybean trade at midday. July futures are down 00-1/2 cent to $4.15-00, while December futures are 1-3/4 cents higher to $4.43-1/2.
Monday’s Crop Progress report showed corn ratings improving 1% to 68% good-to-excellent. Emergence is seen at 94%, which is in line with the 5-year average of 93% emerged.
According to AgRural, Brazil’s Center-South corn region is 8.4% harvested as of June 11. This compares to 4.4% harvested last week, and 5.4% done a year ago.

Soybeans are trading higher at midday led by friendly NOPA Crush data for May. July soybeans are up 6-00 cents to $11.25-1/4, while November futures are 9-00 cents higher to $11.43-3/4.
May NOPA crush data showed NOPA member crushed 208.785 mb of soybeans which was well below the average guess of 216.4 mb. Oil stocks were seen falling to 1.735 billion pounds, down 10.9% from April.
Yesterday’s Crop Progress report showed soybean conditions improving 1% from the week prior to 66%. Planting jumped to 95% complete with 88% of the soybean crop emerged.
The US and Iran are expected to sign the peace agreement on June 19 which could add some pressure to soybeans and energy prices once the deal is signed.

Wheat futures are mostly higher at midday, supported by a stronger soy-complex and higher corn prices. July Chicago is up 9-1/2 cents to $5.99-1/4, July KC is 2-1/2 cents lower to $6.37-1/2, and July Minneapolis is up 3-1/4 cents to $6.19-1/4.
Winter wheat ratings jumped 2% from last week to 27% good-to-excellent. However, this is still down from 52% good-to-excellent last year. 95% of the crop is headed which is ahead of last year’s 92% through the same week.
Argus estimates that Romania could set a record for wheat harvest at 13.9 mmt. The group cited record yields and larger planted area as the reasons for the record production estimate.

Tanner Wilson