June 8, 2026

Mid-Co Morning Comments:
 

• Good morning. Groundhog Day again with corn and soybeans in the red to start the session. Today marks day 2 of 5 for the Goldman roll. Spreads continue to weaken with CN/CU out to -9 ¾ overnight while SN/SX pushed to a new low at -18 ½. The CN/CU price ladder showed roughly 12,300 contracts bid at -10.
• Weather forecasts remain favorable across much of the Corn Belt with multiple inches of rain projected over the next 7 days. Weekend rains were very spotty though — I picked up around 1.8” in Normal while we saw almost nothing on the farm in Mason County.
• Managed money continues to liquidate grain futures positions, especially in corn. Friday’s COT report showed funds sold 90,422 corn contracts, with current estimates now putting the net long near just 39,000 contracts.
• CIF bids took a beating on Friday, especially on the nearby for both corn and soybeans. FOB vs. delivery values for July corn softened a few cents while soybean values continue to be well below.
• Rootless corn syndrome is reportedly becoming an issue in some Illinois fields according to agronomists across the state. Dry weather after planting has limited root development, leading to some laid-over corn during the V3 to V8 growth stages. It’s still unclear how widespread the issue is, and corn futures clearly do not seem too concerned at this point. Pioneer article on the issue: here