Tidbits, June S&D Estimates, Corn Market, SA Crops & Brazilian Exports 6/10/26
- Wright team
- Jun 10
- 3 min read
Tidbits
Flash Sale: Yesterday, the USDA reported sales of 120,000 mts of old crop corn to unknown destinations.
Yesterday’s corn market action was not nearly as bullish as we hoped after losing 38¢ in 13 days, a “hook reversal” on Monday, the crop ratings after the close Monday afternoon were not as good as the market expected, and another corn flash sale yesterday morning.
None-the-less, there were some positive indicators yesterday for the corn market:
The lead futures months were stronger than deferred months. Always a bullish indicator.
July corn settled higher for the second consecutive day, which reinforced Monday’s “hook reversal.”
Corn basis levels were mostly firmer around the nation as they were on Monday.
The EPA extended the summertime E15 waiver through 29 June 2026.
The Brazilian currency, the Real, firmed 0.56% versus the dollar. That makes Brazil’s corn 2.24¢ per bushel or 88¢ per mt more expensive than U.S. corn with everything else being equal.
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