A mix of neutral USDA data, global supply shifts, macroeconomic news, and unpredictable weather is keeping agricultural and commodity markets in a state of uncertainty.
On the latest episode of the Ag Commodity Corner+ Podcast titled, “2026 USDA June Crop Report Neutral + U S HRW LOWEST SINCE 1965!” Farms.com Risk Management Chief Commodity Strategist Moe Agostino and Commodity Strategist Abhinesh Gopal discussed key developments in global commodity markets in detail.
They started the podcast by explaining how corn prices have dropped to new yearly lows after gaining earlier but losing all gains. This fall is believed to be due to technical selling rather than strong market fundamentals.
They suggested that June may mark the lowest point for corn prices, offering a good opportunity for livestock producers to manage feed costs. Similarly, soybean meal and oats also showed weakness, following corn trends.
Wheat, however, showed a positive sign by attempting to rise during the harvest season, which is unusual. Hard red winter wheat production has dropped significantly and is now the lowest since 1965. Experts believe production may fall further due to drought, disease, and extreme weather conditions affecting crops across key regions.
The USDA June crop report was mostly neutral. Changes in exports and usage balanced each other, leaving markets without major direction. However, increased global supply, especially from Brazil and Argentina, created slight bearish pressure.
Crude oil prices also declined sharply, breaking key technical levels. This drop is linked to possible easing tensions in the Middle East and expectations of improved supply. Farmers were advised not to rush into purchasing diesel or fertilizers, as prices may continue to fall.
Weather remains a major factor. While rainfall has improved soil moisture, drought conditions are still expanding in some areas. Experts warned that future temperature patterns and ocean conditions could lead to heat waves, which may damage crops during critical growth stages.
On the livestock side, new cases of screwworm disease have raised concerns. This could impact cattle movement and cause long-term damage to the industry if it spreads further.
Finally, heavy selling by funds in corn and soybeans was highlighted. Experts believe this selloff may be temporary and that strong global demand, especially from China, could push prices higher later in the year.
Watch the “2026 USDA June Crop Report Neutral + U S HRW LOWEST SINCE 1965!” podcast below.
For daily information and updates on agriculture commodity marketing and price risk management for North American farmers, producers, and agribusiness visit things; Farms.com Risk Management Website to subscribe to the program.
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