TFM Morning Update 06-18-2026

The CME and Total Farm Marketing Offices will be closed Friday, June 19, in Observance of Juneteenth

CORN

Corn futures are facing pressure this morning as the market loses interest in recent demand rumors and shifts its focus back to favorable weather and strong crop prospects. July corn is trading 2-1/2 cents lower at $4.18-1/2, while December futures are down 3 cents at $4.45-3/4.
Corn futures are facing pressure again this morning as favorable weather forecasts continue to support expectations for a strong U.S. production year. With forecasts calling for adequate moisture across much of the Corn Belt, traders remain focused on the potential for large yields and comfortable supplies.
Ethanol production slipped to 324 million gallons last week and came in below trade expectations, though output remained only slightly below year-ago levels. Based on the report, approximately 108 million bushels of corn were used in the ethanol production process. That pace was below what is needed to reach USDA’s recently revised corn-for-ethanol forecast.

Soybean futures are facing pressure again this morning as favorable weather forecasts continue to weigh on market sentiment and traders remain reluctant to add weather premium back into prices. July soybeans are trading 8-1/4 cents lower at $11.23-3/4, while November futures are down 7-1/4 cents at $11.42.
Like corn, the soybean market has faced pressure as traders continue to remove weather risk premium from prices. Forecasts calling for favorable temperatures and timely rainfall across key growing regions have reinforced expectations for strong crop development and the potential for a large U.S. soybean harvest.
The U.S. Department of Agriculture confirmed a flash sale of 372,000 metric tons of soybeans to unknown destinations. Of the total, 60,000 metric tons were designated for delivery in the current 2025/26 marketing year, while the remaining 312,000 metric tons were booked for delivery during the 2026/27 marketing year.

The wheat complex is mixed this morning as traders continue to weigh tightening U.S. production prospects against ample global supplies. Looking at July contracts, Chicago wheat is trading 1/2 cent lower at $6.12-1/4, Kansas City wheat is 2 cents higher at $6.54-1/2, and Minneapolis spring wheat is 5 cents higher at $6.30-1/2.
Algeria’s state grain agency, OAIC, is believed to have purchased a large volume of milling wheat in its latest international tender. The wheat is expected to be sourced primarily from the Black Sea region, highlighting the continued competitiveness of Black Sea supplies in the global export market.
Official government data from India showed that domestic wheat stocks climbed to their highest level in five years as of June 1. The increase in inventories reflects strong domestic supplies and adds to the broader narrative of ample global wheat availability, a factor that continues to weigh on wheat market sentiment.

Matthew Lucas