DeLong Commentary

Midday Grain Update

11:03

🟢 CORN:
Corn is trading 3–4 cents higher across the board, after seeing stronger gains overnight. July 2026 corn is up 3.75 cents at $4.75, December 2026 is up 4 cents at $4.97 ½, and December 2027 is at $5.09, up 3.5 cents.

🟢 BEANS:
Soybeans are up 5–6 cents currently after being as much as 15 cents higher overnight. July 2026 beans are trading at $12.13, with November 2026 at $11.94.

🟢 WHEAT:
Wheat is holding the most strength from the overnight rally, supported by severe growing conditions in the western Plains. July 2026 wheat is up 13 cents at $6.32, while July 2027 is nearing $7.00, currently at $6.92 ¾, up 11 cents.

Headlines:

Iran Tensions Bringing Volatility Back to Markets

Markets are reacting to renewed uncertainty after Iran peace talks broke down over the weekend.

The U.S. rejected Iran’s latest proposal, while Iran warned that shipping security through the Strait of Hormuz remains unresolved.

Crude oil moved sharply higher following the developments, with markets once again trading headline-to-headline as geopolitical risk returns to focus.

 

 

 

 

Export Demand

Recent export activity continues to provide underlying support to the corn market.

USDA announced daily corn sales totaling more than 500,000 metric tons, including purchases from both Mexico and South Korea.

Weekly export shipments were mixed, with corn shipments on the lower end of expectations but overall commitments still running ahead of USDA projections. Soybean inspections came in at the higher end of estimates, improving from both last week and last year, while wheat exports also exceeded expectations.

Markets Prepare for Tomorrow’s USDA Reports

Attention is shifting toward tomorrow’s USDA WASDE report, where updated balance sheets and the first look at new-crop estimates will be released.

Trade estimates suggest slightly larger corn ending stocks and more balanced soybean numbers, while wheat production continues to trend lower due to poor crop conditions in parts of the Plains.

Markets are expected to remain sensitive to both report expectations and outside headlines heading into the release.

 

Report Calendar 

 

 

 

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Kasey Baker

Yield 365 – Grain Marketing Simplified
Call: 815.823.2522