TFM Midday Update 6-30-2026

CORN

Corn futures at mixed at the midday session July corn is up 1-1/4 cents at 4.03-1/4 while September corn is down 1-1/4 cents at 4.09.
U.S. crop conditions declined 1 percentage point this week, with 67% of the crop rated good to excellent, down from 73% at the same time last year.
Brazil’s corn harvest is now 22% complete, compared to 18% at the same time last year.
Today’s report could shift market direction if corn acreage comes in well below the 95.1 million acre estimate. However, with new-crop corn trading above $5.00 this spring and favorable planting conditions, producers may have planted more corn than expected.

Soybeans are lower at midday trade with July soybeans down 5-1/4 cents at 11.03-1/2. The entire soy complex is lower at midday.
Brazil postponed its vote to increase the biodiesel blend from 30% to 32%, while Indonesia’s rollout of its B50 mandate may also face delays.
U.S. crop areas will see very hot temperatures this week before cooler conditions arrive next week. Most of this week’s rainfall is expected across the Northern Plains and Upper Midwest.
U.S. crop conditions slipped 1 percentage point this week to 65% good to excellent, compared to 66% a year ago. Nebraska and Louisiana posted the largest weekly improvements.

Wheat is mixed at midday trade ahead of the USDA report. July Chicago wheat is up 1-3/4 cents at 5.71-1/2 while September Chicago wheat is ½ cent lower at 5.79-1/4. July Kansas City wheat is 6 cents higher at 6.06.
All wheat acreage is expected to increase slightly from the March report to 43.86 million acres, driven by higher spring and durum wheat plantings, while winter wheat acreage is expected to remain unchanged.
USDA confirms the sale of 100,000 tons of U.S. hard spring wheat for delivery to Nigeria in 2026/27.
U.S. wheat conditions held steady at 26% good to excellent, down from 48% a year ago. HRW improved 1 percentage point, while SRW gained 3 points.
U.S. wheat harvest reached 48% complete, ahead of 34% last year and the five-year average of 39%.

Lauren VandenLangenberg