June 23, 2026

Mid-Co Morning Comments:
 

• Markets are mixed to start off Tuesday with no surprises yesterday on crop progress and little fundamental news to get the market excited. The potential for more Chinese purchases of U.S. soybeans continue to be monitored.
• Yesterday's crop progress report showed 68% of the corn crop rated G/EX, steady from last week. Soybean conditions also held steady at 66% G/EX. Winter wheat harvest progress advanced 15% on the week to 40% complete compared to the 5-year average of 24%.
• Illinois' corn crop is rated 60% G/EX, down 6% from last week. Illinois soybean conditions dropped 3% from last week and now sit at 58% G/EX.
• CIF corn saw a pop nearby with June up 8c, now bid +82N. Firm barge freight and a lack of farmer selling is keeping CIF elevated. Nearby CIF beans also showed strength with June up a nickel, while July dropped 3c. Barge freight was mixed. Recent rainfall continues to keep river levels elevated.
• Monday's delayed release of the CFTC Commitment of Traders report for the week ending June 16 showed managed money traders were sellers of 41,103 contracts of corn (-46,427), sellers of 37,938 contracts of soybeans (+52,818), and buyers of 9,876 contracts of Chicago wheat (-69,531). 
• AgRural is reporting that Brazil's safrinha corn harvest in the center-south region has reached 16% complete, compared to 13% through this time last year. The group is also noting that soybean acreage expansion for the upcoming growing season is expected to be the lowest in nearly 20 years due to tight margins, rising debt, and concerns over the El Niño. 
• Outside markets are trading mixed: nearby crude oil futures are down $.50-.60/bbl, the Dow Jones index is down 230-240 points, and the U.S. dollar index is up 20-30 points.