TFM Morning Update 06-26-2026

CORN

Corn futures are trading lower this morning, and July corn is 10 cents off its low that was posted yesterday. July corn is down 1-1/4 cents to $4.13-1/2 while December is down 1/4 cent to $4.42-3/4.
Yesterday’s export sales report saw corn sales within analyst expectations at 1,479k tons total. Sales were down from the previous week. Mexico was the top buyer with 603k tons followed by Japan and then South Korea.
In Argentina, the Buenos Aires Grain Exchanged updated their grain production estimates, and corn production was held steady at 64.0 mmt with 51.2% of the crop now harvested.

Soybean futures are trading lower, giving back a portion of yesterday’s gains. July beans are down 6-1/4 cents to $11.21-1/4 while November is down 5-1/2 cents to $11.51-1/2. July soybean meal is down $3.50 to $304.70 while soybean oil is down 0.37 cents to 70.44 cents following a drop in crude oil.
Yesterday’s export sales report saw soybean sales total 1,358k tons which was above trade estimates. The top buyer was unknown at 792k tons, and some of that may have been China. China and Mexico were the other top buyers.
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.

Wheat is trading lower to start the day, also giving back all of yesterday’s gains. July Chicago wheat is down 11-1/2 cents to $5.79-1/2, KC is down 11-1/4 cents to $6.09-1/4, and Minn wheat is down 5-3/4 cents to $5.81-1/2.
Yesterday’s export sales saw wheat sales total 505k tons which was within expectations. The top buyer was Mexico with 204k tons bought followed by Japan and Chile.
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.

Amanda Brill