July 13, 2026

Mid-Co Morning Comments:
 

• Good morning.  The new week brings higher values for corn and beans and a mixed picture for wheat.  The crop report had a friendly bias to corn, and some leftover buying has been seen to start the week.  Combine that with a week of hot/dry weather for the Midwest and corn pushed into key resistance overnight.  December corn is currently trading right at the 50 and 200-day moving averages.  From a technical standpoint, the close above or below these levels will be watched closely.  The wheat market fell of its highs overnight as some cooler temps are slated for Europe next week, which took some of the excitement out of Paris futures.  The drone attacks continue between Ukraine and Russia, but large ag facilities have been spared so far.   Shipping in key channels around Russia has been limited with the new round of attacks so that will be something that keeps wheat traders on edge.   The ceasefire between the U.S. and Iran seems to be over as more fighting happened over the weekend.  Crude is up another $2.50 this morning and is back near $74.   The 8 to 14 day forecast for the Midwest did cool down a bit with its run over the weekend.  It is also calling for normal precip.  The midday runs will dictate the direction into the close.  The USDA raised the feed/residual number on Friday, prompting more talk that the 2025 corn crop is overstated.  Export inspections are out this morning with crop progress out this afternoon.  Corn and bean ratings are expected to be steady to slightly lower this afternoon.  July futures expire tomorrow.  Weather and war tensions are the main items of interest to start the week.  Both are hard to predict.  Have a safe day.