Mark's Market Talk for July 20, 2026

Corn and soybeans both closed higher last week. Corn finished the week up 5 to 6 cents, while soybeans gained around 12 cents. On Friday, 15.8 million bushels of soybeans were reported sold for the 2026-27 marketing year. Those are fairly normal sales for this time of year as buyers take advantage of the window when the largest supplies are expected to be available during late fall and early winter.

Crude oil prices were higher during the second half of the week, which helped provide some support for the grain markets. The war that many hoped was winding down now appears to be heating back up, with both sides once again increasing attacks. Weather also remains a major factor, as much of the Corn Belt has experienced hot and dry conditions. The current forecast shows a possible break in temperatures along with scattered chances of rain. In many areas, the corn crop is only one or two timely rains away from reaching its yield potential, but the window to receive those rains is beginning to close. Soybeans will still need favorable August weather to maximize yields. With so many soybean acres planted earlier than normal this year, those August rains will need to arrive sooner than they have in many previous seasons.

Today the market continues to be driven by three major factors: weather, war, and export demand. It may actually be more accurate to say wars, as the conflict between Ukraine and Russia has intensified again and continues to create challenges for grain exports. European weather is also drawing attention, with several growing regions experiencing significant drought conditions. At home, old crop corn is slowly making its way to market as producers become more confident that this year's crop has good yield potential. Traveling through the countryside, you can see augers set up at grain bins as many farmers begin their annual State Fair bin cleanout. We are also in the middle of county fair season, which remains a favorite summertime tradition for many rural families. Hopefully you can find some time to get out, support our local youth, and enjoy everything the fairs have to offer.