3 Big Things Today, June 26, 2025

1. Corn Futures Slightly Higher in Overnight Trading

Corn futures were modestly higher overnight on technical buying after this week’s selloff. 

Investors who were short the market, or had bet on lower prices, likely bought back contracts and booked profits. 

Favorable weather conditions have put a lid on prices in recent sessions. 

Still, the condition of U.S. corn was reported at 70% good or excellent at the start of the week, down 2 percentage points from the week prior, the Department of Agriculture said in a report. Four percent of the crop was silking as of Sunday. 

Soybean ratings were unchanged with 66% earning top ratings, the agency said. 

Export sales in the 2024-2025 marketing year that ends on Aug. 31 have been robust. Overseas buyers have committed to purchase 66.8 million metric tons of U.S. corn, up 26% year over year, USDA data show. 

Corn sales in the seven days that ended on June 12 rose 14% week over week to 903,800 metric tons, though that was down 6% from the prior four-week average. 

Corn futures for December delivery rose 1 1/2¢ to $4.24 a bushel overnight on the Chicago Board of Trade. 

Soybean futures for November delivery added a penny to $10.19 1/2 a bushel. Soymeal was up 20¢ to $290.90 a short ton and soy oil fell 0.1¢ to 52.22¢ a pound. 

Wheat futures for September delivery were unchanged at $5.44 ½ a bushel, while Kansas City futures rose 1/4¢ to $5.49 1/2 a bushel. 

2. Ethanol Production Falls Second Straight Week

Ethanol output fell for a second straight week while inventories rose, according to data from the Energy Information Administration. 

Production declined to an average of 1.081 million barrels a day in the week that ended on June 20, the agency said. 

That’s down from 1.109 million barrels the previous week and the lowest since the seven days that ended on May 23. 

In the Midwest, by far the biggest producing region, production averaged 1.023 million barrels per day, down from 1.052 million barrels the week prior and the lowest in just over a month. 

Gulf Coast output declined to 26,000 barrels a day, on average, from 27,000 barrels a week earlier, the agency said. 

That was the entirety of the losses as East Coast production was unchanged week over week at 12,000 barrels a day and Rocky Mountain output was steady at 11,000 barrels. 

The West Coast saw the only weekly increase, rising to 10,000 barrels per day from 8,000 barrels a week earlier. 

Ethanol stockpiles on June 20 were reported at 24.404 million barrels, up from 24.12 million the previous week, EIA said in its report. 

3. Flood Warnings, Watches Issued in Nebraska, Iowa

Flood warnings and watches have been issued for counties in eastern Nebraska and western and northern Iowa, according to National Weather Service maps. 

Counties in eastern Nebraska likely will see minor flooding as heavy rainfall overnight caused waterways to near or overrun their banks, the agency said. 

“Flash flooding will also remain a concern today I areas where showers and thunderstorms continue,” NWS said in a report early this morning. 

Strong wind gusts of up to 60 mph are forecast for this afternoon into the evening as more storms roll through the area, the agency said.

More storms are expected in the region from Saturday night into Monday morning.