June 17, 2026

Mid-Co Morning Comments:
 

• Grain markets are in the green this morning with some follow-through buying after yesterday’s positive session. Corn spreads are slightly firmer after widening yesterday, with CN/CU trading at -8 ½. The price ladder currently shows roughly 11,300 contracts bid at -9. New crop soybean spreads strengthened yesterday on rumors of Chinese buying interest.
• Soybeans rallied yesterday on reports that Sinograin, China’s state-owned reserve manager, was in the market for soybeans, particularly new crop supplies. CIF soybean values firmed with November CIF bid at +100X/+105X and Dec/Jan trading around +93F. The market will be watching closely for any flash sales announcements today or tomorrow.
• Crush margins have backed off the recent $4/bu highs as softer energy markets continue to pressure soybean oil values. Current July board crush margins are now near $3.42/bu. Meanwhile, D4 RIN values remain near record highs at roughly $2.40/gallon.
• Severe weather is expected to impact our area today with risks of tornadoes, heavy rainfall, hail, and damaging straight-line winds. Forecast models indicate two waves of storms, with the first expected around midday. Seven-day precipitation maps continue to show much of Illinois and Missouri receiving 2-3 inches of rain.
• Wheat harvest has begun in some southern areas, although progress remains limited with additional rainfall in the forecast. Early reports suggest quality has been decent so far, with test weights generally ranging from 58-60 lbs. The market will be watching to see how quality holds up once harvest resumes after the rains. Wheat spreads have firmed this week as well, with WN/WU trading in to -7 ¼, likely supported by weather-related quality concerns.