Row Crops Today — June 19, 2026
The 5-minute 5 AM brief for row crop producers and ag professionals
Headline Stack
🌍 USDA confirms China purchase of 132,000 MT U.S. soybeans as tariffs ease
🌧️ Drought Monitor: 23% of corn and soybean acres still in D1–D4 after Midwest rains
🏦 Farm Credit System capital up 7.3% to $86.4B, but non-performing assets rise to 1.09%
⛽ Minnesota Farm Bureau presses Senate for year-round E15 approval
Top Story
🌍 China returns to the U.S. soybean market with a confirmed 132,000-metric-ton purchase. — LINK
USDA confirmed Thursday that China bought 132,000 metric tons of U.S. soybeans, with an additional 120,000 metric tons sold to unknown destinations for the new-crop marketing year. An unconfirmed old- and new-crop purchase reported Wednesday may also have been Chinese, traders said. The buy follows a reduction in U.S. tariffs on China and comes as U.S. corn and wheat are trading at what one analyst called a "20 percent off sale." Tommy Grisafi of Ag Bull Trading said the volumes, while welcome, remain well below historical norms for Chinese demand. "Everyone makes a big deal that they even bought anything. They should be buying a lot of our stuff," said Tommy Grisafi, Ag Bull Trading. "So we now get excited that we sold anything. It's kind of an interesting thing, but they are definitely not shunning us, not moving away from us. We are open for business." Grisafi linked the timing to a U.S.–Iran memorandum of understanding signed Wednesday, calling the purchases a strategic signal.
More This Week
🌧️ Drought eases across Corn Belt as 4–5 inch rains reach Illinois and Indiana. — LINK
The June 16 U.S. Drought Monitor shows 23% of corn and soybean acres remain in D1–D4 drought, down modestly week-over-week after 4–5 inch rainfall totals across central Illinois and Indiana.
The National Weather Service forecasts continued heavy rainfall into the Corn Belt over the coming week, with additional moisture expected to push more acres out of drought classification.
Improvement was concentrated in the eastern Belt; pockets of the western Plains and upper Midwest remain in D2 or worse heading into pollination.
🏦 Farm Credit System capital up 7.3%, but stressed loans climbing. — LINK
A Farm Credit Administration report shows total Farm Credit System capital rose 7.3% to $86.4 billion as of March 31, 2026, while non-performing assets climbed to 1.09% of loans — up from 0.96% a year earlier.
The FCA report describes the system as financially sound but flags rising credit risk as net farm income is expected to decline across the sector in 2026.
The shift in non-performing assets marks the latest in a multi-quarter trend of deteriorating loan performance tied to compressed crop margins and elevated input costs.
⛽ Minnesota Farm Bureau presses Senate on year-round E15. — LINK
Minnesota Farm Bureau President Dan Glessing is lobbying the U.S. Senate for passage of year-round E15 sales following House approval, citing direct corn demand benefits for Midwest producers.
Roughly 40% of the U.S. corn crop currently moves through the ethanol channel, making federal E15 policy a primary lever for new-crop corn demand.
The legislative window remains open this session; the underlying bill cleared the House earlier this year and awaits Senate floor action.
Basis Watch
Kentucky Pennyrile old-crop corn basis firmed 10 cents on the minimum bid Thursday, the largest corn move of the session. Missouri locations posted gains of 5 cents on the top end at Central, Northwest, and West, while North Dakota North Central and Northwest each firmed 5 cents. Iowa South Central and Illinois North Central improved 4 cents on the low side. Illinois North softened 3 cents on the minimum bid, the only notable decline among corn locations.
Illinois North Central soybeans strengthened 10 cents on the minimum and Nebraska Southeast firmed 10 cents on the top end. Iowa Northwest improved 7 cents, with 5-cent gains scattered across Iowa, Missouri, South Dakota, Minnesota South, Nebraska East Central, and Illinois Wabash. Kentucky Bluegrass soybeans broke 17 cents on both ends — the rest of the soybean board was firmer.
Source: USDA AMS
Non-performing assets in the Farm Credit System reached 1.09% of loans as of March 31, 2026 — up from 0.96% a year earlier — as the system braces for lower net farm income across the sector.
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