Mark's Market Talk for June 15, 2026

The USDA released its June WASDE report last Thursday, and most people hardly noticed because it was truly a sleeper. World corn ending stocks came in slightly higher, while soybean numbers were essentially unchanged. A much more significant report will be released later this month, featuring updated acreage estimates and projected yields. That report is rarely a sleeper, and with the wide variation in crop conditions across the country, it has the potential to be a major market mover.

The same news items continued to influence trade last week. The conflict involving Iran remained unsettled as of Friday. President Trump stated that an agreement is ready to be signed, while Iranian officials continue to act as though they have not even reviewed the proposal. Despite the uncertainty, crude oil prices were lower and stock markets were higher on Friday.

Overall, weather conditions have not been threatening on a broad scale, except for those areas that have found themselves in the path of severe hailstorms or flooding. July corn futures closed the week down 5 cents, while soybeans finished 8 cents lower. Funds continue to liquidate long positions, with estimates showing they held approximately 37,000 corn contracts Thursday night after peaking near 250,000 earlier this spring. Soybean funds were still estimated to hold around 104,000 contracts, down from roughly 230,000 contracts earlier in the year. These reductions could prove beneficial if the market can find a catalyst to spark a move higher.