June 25, 2026

Mid-Co Morning Comments:
 

• Grain markets are mostly quiet this morning, though December corn posted a fresh low overnight at $4.31 ½. Crude oil futures are lower again with August WTI trading just below the 200-day moving average. Corn spreads weakened with CN/CU widening to -9 ¼ after a heavy round of trading at -9. There are still sizeable orders stacked at -9 ½ and -10.
• President Trump announced a request for an additional $11 billion in farm aid tied to higher fertilizer and fuel costs stemming from the conflict with Iran. Trump also reiterated support for year-round E-15 and called on Congress and the Senate to include E-15 language in the proposed $88 billion supplemental funding package tied to the Iran war.
• Basis continues to show a firmer tone in both corn and soybeans. Several soybean processors rolled bids to the SQ, including ADM Mankato, AGP in Iowa, and a few Ohio plants, showing rolls to the SQ across multiple regions. Corn rail basis also improved in both the Southeast corridors and western markets.
• Forecast models continue to keep the better rainfall chances south over the next 7 days, with soaking rains projected for southern Missouri, Southern Illinois, and the Ohio Valley. Temperatures are expected to stay near normal through Saturday before a high-pressure ridge builds heat across much of the region into next week.
• Extreme heat across the European Union has pushed corn and wheat prices higher amid concerns over crop stress. Temperatures across key growing regions have topped 100 degrees, and traders are beginning to factor in potential production issues for both corn and wheat.
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