June 11, 2026

Mid-Co Morning Comments:
 

• Grain markets are mixed this morning with corn down a couple cents while soybeans have traded on both sides of unchanged overnight. Spreads are mostly quiet as traders position ahead of the 11 a.m. WASDE report.
• Corn basis continues to firm this week. Reports of +25N traded for June corn into Decatur and +30N at Lafayette, IN. Western bids were firmer as well, with Garden City, KS feedyard corn improving 10 cents week over week and now bid +70U for Aug/Sep. UP bids are firmer this week as well.
• Brazil’s monthly CONAB report was released this morning. Soybean production was estimated at 180.253 MMT (6.62 billion bushels), up 5.1% from last year, while corn production was estimated at 140.463 MMT (5.53 billion bushels).
• Storms ripped through the Midwest yesterday with heavy rainfall and strong winds across much of the region. Creeks are out in parts of central Illinois after many areas received 3-4 inches of rain yesterday alone. I’ve had about 5.7 inches of rain at my house so far in June. Another round of storms is expected tonight with damaging winds, hail, and a possible tornado threat. I also saw pictures of some wheat laid over around Decatur, IL that was expected to be cut in the next couple of weeks.
• Today’s WASDE and Crop Production reports will be released at 11 a.m. Typically, the June WASDE is not considered a major market mover, but the trade will still be watching closely. I’m looking for a couple revisions on the corn demand side with higher exports and lower ethanol usage, which would likely offset each other. It also would not be surprising to see another upward revision to soybean crush demand.