TFM Morning Update 06-11-2026

CORN

Corn is trading lower this morning but has not taken out its low from Monday. July corn is down 2-1/2 cents to $4.16-1/2 while December is down 2-1/4 cents to $4.44-1/2.
Estimates for today’s WASDE report see ending stocks for 25/26 slightly lower and 26/27 ending stocks lower to 1.947 bb. Corn yield is expected to be mostly unchanged at 182.9 bpa. Argentinian corn production is seen higher at 60.8 mmt and Brazil is seen higher at 135.8 mmt.
Estimates for today’s export sales report see corn sales between 800 and 1,800k tons with an average guess of 1,363k tons. This would compare to 1,127k last week and 1,102k tons a year ago.

Soybean futures are trading lower with pressure from lower soybean oil. July soybeans are down 2-3/4 cents to $11.20 while November is down 1/4 cent to $11.38-1/4. July soybean meal is up $1.40 to $303.30 and July soybean oil is down 0.27 cents to 75.06 cents.
Estimates for the USDA report see both 25/26 and 26/27 ending stocks virtually unchanged at 311mb and 339 mb respectively. Yield is estimated at 52.9 bpa, and both Brazilian and Argentinian production are expected to be slightly higher.
Estimates for the export sales report see soybean sales in a range between 150 and 900k tons with an average guess of 419k. This would compare to 520k last week and 198k a year ago at this time.

Wheat is mixed this morning with July Chicago wheat down 3-1/2 cents to $5.84, KC wheat down 4-1/2 cents to $6.26, and Minn wheat up 1/2 cent to $6.18-1/4.
Estimates for today’s export sales report see wheat sales between 200k and 550k tons with an average guess of 325k. This would compare to 196k tons last week and 396k a year ago.
Ukraine has warned that Russian attacks on the port of Odesa have threatened export collapse as a result of the serious damage. This could lead to a significant reduction in shipments, and more than 90% of the country’s key agricultural exports move through the 3 ports of the Odesa hub.

Amanda Brill