GCC Weekly Market Commentary > 2026 > June 2026 > Weekly Market Update 6-18-2026

Weekly Market Update 6/18/2026

Jun 18, 2026

Here is your weekly market update from the Garden City Co-op Grain Origination Team.

Trivia

What is the hardest natural substance on Earth?
In soccer, how many players are on the field for each team?

Answers at the bottom.

Market News

PEACE DEAL: A signing ceremony is scheduled on Friday in Switzerland for an agreement between Iran and the United States, focusing on peace and the reopening of the Strait of Hormuz. However, key issues, including Iran's nuclear capabilities, remain unresolved. Pakistani Prime Minister Shehbaz Sharif has emphasized that the agreement entails an immediate and permanent end to military operations, including those in Lebanon. Neither Hezbollah nor Israel has commented on the agreement yet, raising questions about compliance. Iran claims that military operations across all fronts, including in Lebanon, have ceased, marking a potentially historic development.

NOPA CRUSH SUMMARY: The U.S. soybean crush for the month reached 208.8 million bushels, an increase from 192.8 million bushels a year ago, but still below April's figure of 211.9 million bushels and more than seven million bushels under the average trade estimate. The cumulative crush from September to May is now at 1.944 billion bushels, which is still over 12% ahead of last year's pace. However, the USDA's total crush estimate for the 2025/26 year remains at only a +8% year-over-year increase. - Current soybean oil stocks total 1,735 million pounds, increased from 1,373 million pounds last year, but lower than April's 1,947 million pounds and below trade estimates. The implied domestic use of soybean oil is 2,653 million pounds, up from both last month and last year. Meal stocks are at 4.968 million short tons, up from 4.583 million short tons last year but down from 5.041 million short tons last month. Meal yield is 47.59 pounds, remaining stable month over month, above last year's yield, and a record high for May. The bullish soybean oil stocks figure provides a boost to oil following the NOPA release and offers some support to soybeans, despite the crush number coming in below estimates. The USDA has been consistently raising its crush estimate at the expense of soybean supply, but it still falls short of the total implied by the ongoing NOPA data.

EXPORT SALES AND INSPECTIONS: Corn export sales totaled 45.6 million bushels this week – 4.6 million bushels below the running 10-week average and in-line with current trade estimates. New crop corn sales were reported at 20.4 million bushels sold. Current week corn export inspections totaled 64.4 million bushels, down 14.9 million bushels from the week prior. Old crop soybean sales were reported at 15.6 million bushels, with 11.2 million bushels of N/C soybean sales reported. Soybean export inspections for the week were reported at 19.2 million bushels – falling below the running 10-week average but in-line with current trade estimates. All wheat export sales totaled 14.7 million bushels this week. Current week wheat export inspections totaled 12.3 million bushels – falling just below current trade estimates. A total of 2.7 million bushels of milo export sales were reported this week and export inspections totaled 12.3 million bushels, 7.6 million bushels above the running 10-week average.

CROP PROGRESS: Corn planting in Kansas is near complete at 92% with 63% rated good to excellent, just 1% behind last year at this time. Soybean planting and conditions are above last year at 87% planted (81% in 2025) and 67% good to excellent (60% in 2025). Milo planting took off, now 54% planted from 33% the previous week and in-line with last year. Wheat harvest is well ahead of last year at 28% harvested, whereas last year was 3% at this time, and is only 8% on average. Good to excellent ratings have remained at 14% while nationally, these ratings improved 2% from the previous week.

WEATHER: Cooler temps and partly cloudy today with a high near 84°F. Clouds will mostly clear tomorrow with similar high temperatures, bringing a 20% chance of showers and thunderstorms before 9pm. Chances for thunderstorms continue into the weekend with a 20% chance Saturday afternoon, increasing to 40% before 1am. Highs Saturday and Sunday are in the low 90s and breezy. Sunday night brings a 50% chance of thunderstorms, with chances continuing through Wednesday next week