Mark's Market Talk for June 22, 2026

Last week was another reversal from the previous week, with corn moving higher and soybeans finishing lower. July corn gained 7 cents, while July soybeans ended the week down 5 cents. Despite the weekly swings, both markets have traded within a very narrow range for the past four weeks.

The conflict involving Iran continues to influence many markets, including grain. As of Saturday, the on-again, off-again negotiations appeared to be off once again. What we have now is a high-stakes cat-and-mouse game. While the United States and its allies hold a significant advantage in military power, Iran continues to resist. It would benefit the entire world economy to see this conflict resolved and the Strait reopened to normal traffic. Rising tensions were reflected at the gas pump last week, as fuel prices jumped sharply across central Iowa. That increase affects everyone’s pocketbook.

Congress took a positive step toward allowing permanent year-round E15 sales. The House included the provision in its Farm Bill proposal. There is still a long road ahead, as no Farm Bill passes without considerable negotiation and compromise. Even so, this is a step in the right direction. Expanded E15 availability would provide additional domestic demand for corn at a time when farmers need it. Combined with implementation of the recent Renewable Fuel Standard rulings, it could help reduce some of the excess grain supplies currently weighing on the market.

Planting progress across our area has been mixed. After a dry start to the season, we have been blessed with ample rainfall in recent weeks. Other parts of the Corn Belt have generally experienced more favorable conditions, and Monday's crop progress report should reflect that. We have enjoyed three relatively easy springs in a row. This year appears likely to be a little more challenging.