June 30, 2026

Mid-Co Morning Comments:
 

• Grain markets are mixed this morning ahead of today’s Acreage and Quarterly Stocks reports, which also mark the end of June, the second quarter, and the first half of the year. Corn futures pushed to fresh 9-month lows yesterday and filled the gap on the weekly continuation chart. December ’26 corn futures traded to new lifetime lows at $4.27 ¼ during yesterday’s session. Soybeans were under pressure as well with Nov ’26 beans slipping below the 100-day moving average. July open interest saw heavy liquidation with 63,674 contracts offset and total open interest down to just 16,800 contracts as of yesterday’s close.
• STOCKS AND ACREAGE REPORT: Average trade estimates for today’s corn acreage report are near 95.0 million acres, which would be a slight reduction from the March intentions report. Soybean acreage estimates range from 84.3 to 86.0 million acres. Quarterly grain stocks are expected near 5.408 billion bushels of corn and just over 1 billion bushels of soybeans. Most of the corn stocks are projected to remain in the western Corn Belt, which continues to show up in basis levels with one South Dakota co-op currently posted at -90U.
• Weekly crop condition ratings showed both corn and soybean good/excellent ratings slipping 1% from last week. Corn is now rated 67% good/excellent compared to 73% this time last year. Some of the larger week-over-week declines came from the eastern Corn Belt where excessive rainfall has continued to impact conditions. Soybeans are currently rated 66% good/excellent.
• Weather forecasts show temperatures moderating into the weekend as the current high-pressure ridge shifts west toward the Plains and Intermountain regions. The central U.S. and eastern Corn Belt are expected to stay relatively dry while the upper Midwest is projected to receive the better rainfall totals over the next 7 days, especially across Minnesota, northern Iowa, and Wisconsin. The market has largely viewed the forecast as favorable for crop development.
• Good luck on today’s report and please reach out with any questions.