Corn futures are 3 to 4 cents lower at midmorning.
- Corn futures are weaker in consolidative trade amid general pressure across grains.
- USDA reported weekly export inspections totaled 1.454 MMT during the week ended June 18, down 195,928 MT from the previous week. Analysts expected corn inspections to range from 1.4 MMT to 1.925 MMT.
- Farmers in Brazil’s center-south had harvested 16% of their 2026 second corn crop as of last Thursday, according to AgRural. That was up from 8% in the previous week and above the 13% reported last year at the same time.
- July corn futures are pivoting around the 10-day moving average of $4.16 ¼, with support at the June 15 low of $4.06 1/4 and the 20-day moving average of $4.32.
Soybeans are chopping around unchanged, while soymeal is around $1.00 lower, and soyoil is around 110 points higher.
- Soybeans are mostly weaker as technical resistance limits buyers to start the week.
- USDA reported weekly export inspections totaled 241,045 MT during the week ended June 18, down 292,393 MT from the previous week. Analysts expected net inspections to range from 300,000 to 550,000 MT.
- Brazil’s 2026 soybean crushing is forecast to reach 63 MMT, up 0.8% from the previous estimate, crushers group Abiove stated earlier today, citing strong harvest and robust demand for derivatives supporting growth in domestic processing,according to Reuters.
- July soybeans are being supported by the 10-day moving average, trading at $11.20 ¾, while resistance stands at the 200-day moving average, trading around $11.38.
Wheat futures are 7 to 10 cents higher.
- SRW wheat futures weaker as traders balk at resistance at the 40-day moving average.
- USDA reported weekly export inspections totaled 393,150 MT during the week ended June 18, up 35,052 MT from the previous week. Analysts expected inspections to range from 350,000 to 550,000 MT.
- Grain freight rates in Ukraine have decreased slightly despite ongoing Russian attacks on Black Sea ports, ASAP Agri consultancy said earlier today, citing a seasonal decline in cargo flows.
- A heat wave gripping western Europe is forecast to strengthen this week, with days of dangerously hot and humid conditions and record-breaking temperatures in France, the UK, Spain and Germany. “The heat — driven by a high-pressure heat dome and supported by a developing El Niño — has caused widespread disruptions,” reported Bloomberg.
- July SRW futures are facing resistance at the 40-day moving average of $6.22 3/4, while support lies at the 10-day moving average of $5.90 1/2.
Live cattle and feeders are higher at midsession.
- Cattle futures are firmer as New World screwworm concerns continue to ring across the marketplace.
- The USDA Animal and Plant Health and Inspection Service (APHIS) on its NWS website is now reporting 15 total New World screwworm detected cases, but all still in Texas and New Mexico, with the three new ones in Texas.
- USDA last Thursday afternoon reported U.S. cattle and calves on feed for the slaughter market for feedlots with capacity of 1,000 or more head totaled 11.7 million head on June 1. The inventory was 2 percent above June 1, 2025. Find more details here.
- Choice boxed beef rose 45 cents on Friday to $394.37, while Select fell $2.67 to $372.08. Movement totaled 80 loads.
- August live cattle are facing resistance at $250.19, while support lies at $247.09, which is backed by the 40-, 10- and 20-day moving averages.
Hog futures are weaker at midday.
- Lean hog futures are weaker in sideways trade, though improving wholesale fundamentals are limiting the downside.
- The CME lean hog index is down 27 cents to $92.17 as of June 18.
- The pork cutout value rose $3.06 to $96.77 on Friday, led by a $13 gain in primal butts. Movement totaled 373.0 loads.
- August lean hogs are trading between the 10- and 20-day moving averages, layered at $95.92 and $97.56. Additional support/resistance are at the June 10 low of $93.975 and $98.84.