TFM Morning Update 06-25-2026

CORN

Corn futures are mixed this morning with July down 1/4 cent to $$4.06-3/4 and December up 1/2 cent to $4.35-1/4. Corn continues to slide lower, and December corn made a new contract low this morning. Some traders are anticipating a decrease in planted corn acres this season.
US ethanol stocks increased by 0.5% to 24.585m bbl according to the weekly petroleum report, and analysts were expecting 24.64m. Plant production was seen at 1.09m b/d which compared to the survey average of 1.1m.
Estimates ahead of the upcoming Grain Stocks report see corn stocks at 5,414 mb which would be up sharply from 4,643 a year ago at this time. Planted corn acres are estimated at 95.1 ma which would be down from 95.3 ma estimated in March.

Soybean futures are trading higher with support from higher soybean meal while soybean oil has been trending lower over the past 3 weeks. July soybean are up 3-3/4 cents to $11/12-1/2 while November is up 4-3/4 cents to $11.39-3/4. July soybean meal is up $2.00 to $305.60 and soybean oil is down 0.39 cents to 69.07 cents.
Estimates for the Grain Stocks report see soybean stocks at 1,050 mb which would compare to 1,008 mb in June. Analysts estimate that 85.2 million acres of soybeans are planted which would compare to 84.7 ma estimated in March.
Yesterday, President Trump asked Congress to approve over 11 billion dollars in additional aid for farmers who are facing high fuel and fertilizer costs as a result of the Iran war. It would add $12 billion in aid to the money already disbursed this year.

Wheat is mixed this morning but overall nearly unchanged with July Chicago wheat down 3/4 cent to $5.85, KC wheat down 1/2 cent to $6.16-3/4, and Minn wheat up 3/4 cent to $5.85.
Estimates for the Grain Stocks report on the 30th see wheat stocks at 931 mb which would be up from 855 mb at this time a year ago. Planted wheat acres are estimated at 43.8 million which would be unchanged from the March estimate.
In Russia, SovEcon has lowered its estimates for the 26/27 wheat crop to 88.9 mmt which is a 1.6% decline from its previous estimate. This is due to a decline in planted wheat area.

Amanda Brill