DeLong Commentary

Midday Grain Update

11:02A

🟢 CORN: Corn remains fundamentally strong, trading lower overnight on technical pressure but finding support this morning. July 2026 corn is at $4.70, with December 2026 at $4.93.

🟢 BEANS: Soybeans have been the most volatile after a two-day slide but are now rallying 12–15 cents. July 2026 beans are back above $12.00 at $12.06, with November 2026 at $11.88.

🟢 WHEAT: Wheat has also found support, trading 5 cents higher across the board. July 2026 wheat is at $6.12.

Pre-USDA Positioning Adds to Market Pressure

Markets remain focused on Tuesday’s USDA WASDE and Crop Production reports, leading to more cautious positioning ahead of the release.

Early trade reflects continued position adjustments and reduced risk exposure, with some signs of liquidation as traders prepare for updated supply and demand estimates.

Crude Oil Recovers, Supporting Commodity Markets

Crude oil is trading higher on the session, providing support to the broader commodity complex.

This marks a shift from earlier weakness, with strength in energy helping stabilize grain and oilseed markets.

Drought Concerns Continue Across Key Growing Areas

This week’s U.S. Drought Monitor continues to show widespread drought pressure across portions of the Plains and Southern growing regions.

Areas of Kansas, Oklahoma, Texas, and parts of the Western Corn Belt remain under moderate to exceptional drought conditions, with portions of the HRW wheat belt continuing to experience severe stress.

While grain markets have recently been more influenced by outside markets and fund movement, drought conditions remain an underlying concern as the growing season progresses.

Let’s Talk!

Yield 365 – Grain Marketing Simplified
Call: 815.823.2522

Report Calendar

MARKET CLOSE: