June 10, 2026

Mid-Co Morning Comments:
 

• Grain markets are in the green this morning (yes, you read that right). December corn traded up to $4.51 ½ overnight while soybeans are 5-6 cents stronger. Old crop corn spreads are weaker with CN/CU back out to -8 ½, while soybean spreads are firmer.
• President Trump posted this morning that the Iranian Navy and Air Force “doesn’t exist anymore” and that the U.S. naval blockade has been a “Steel Wall.” Trump also added that “lots of oil is getting out.” Crude oil futures are firmer this morning after reports of additional missile strikes overnight following Iran’s attack on a U.S. Apache helicopter.
• Corn basis continues to trend higher with processors leading the charge. ADM Decatur has been actively pushing for June corn, while rail values have firmed as well. Look for this trend to continue unless futures can stage another 20-30 cent rally. Spreads have narrowed alongside the stronger basis tone.
• Severe weather is expected to move through the Midwest tomorrow with the potential for heavy rainfall, severe thunderstorms, damaging winds, and hail. Most of the 7-day precipitation totals are projected to come from this system. Storm chasers have already begun positioning themselves across the region.
• Tomorrow’s June WASDE and Crop Production reports will be released at 11:00 a.m. CT. The trade is not expecting major balance sheet adjustments, with larger changes likely pushed back to the end-of-month Stocks and Acreage reports. Estimates are below.