DeLong Commentary

Midday Grain Update

10:45a

🟢 CORN: Corn is trading 14.75–19 cents higher across contracts. July 2026 corn is up 19 cents at $4.75, while December 2026 is up 15 cents at $4.95, sitting just 2 cents off the daily high.

🟢 BEANS: Soybeans are recovering a large portion of last week’s losses, with July 2026 up 37.5 cents at $12.14. New crop November 2026 beans are up 31.75 cents at $12.02.

🟢 WHEAT: Wheat is also rallying after recent volatility, with July 2026 up 22.25 cents at $6.58.

Headlines:

Big headline demand vs. weak actual shipments continues to define upside market opportunity.

China Ag Deal Sparks Rally

Markets are reacting to a confirmed agreement for China to purchase $17 billion annually in U.S. agricultural products over the next several years.

This marks a shift from last week’s uncertainty to a more defined demand framework, driving strong gains across grain and oilseed markets.

While expectations have improved, some previously discussed 2026 soybean sales remain unconfirmed.

Export Inspections Disappoint

Recent export inspections came in at the lower end of expectations for corn and soybeans, while wheat shipments were notably weak.

Corn inspections declined week over week, soybean movement slowed to a marketing year low, and wheat shipments fell well below last week’s pace.

Despite the broader demand optimism, current export flow continues to lag.

Weather Remains Mixed

Improved moisture across the Midwest continues to support planting progress and limit weather premium in corn and soybeans.

At the same time, dryness persists across key Plains regions, with limited recovery potential for winter wheat.

This split weather pattern continues to create differing outlooks across commodities. The map below highlights precipitation needed to end or avoid drought—despite recent rains, crops will require continued moisture to reach the finish line.

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Kasey Baker

Yield 365 – Grain Marketing Simplified
Call: 815.823.2522