Tuesday, June 23, 2026
Closing Markets: Corn: -1.75 old & -2.25 new.
Beans: +1.25 old & +0.25 new. Wheat: -10.75.

Topflight Grain is offering Free DP on soybeans to all full-time locations except Maroa based on space availability good through August 31, 2026.

We are also offering Free DP on corn delivered to Pierson and Milmine based on space availability good through August 31, 2026.

Good evening!


Market Recap-
Tuesday ag trade at the CBOT was much like Monday, with markets seeing generally quiet, back-and-forth price action throughout the day for the most part as headline news remains slow and with traders in wait and see mode for next week's acreage figures. With things quieting down a bit in the Middle East, its crop weather and the growing season that are beginning to attract more attention this week, along with the ongoing topics of China and biofuels. We've talked about it for weeks now, but as activity in the Strait of Hormuz resumes, its developments on one of the previously mentioned fronts that will likely spark the next significant price move in the corn and soybean markets.

Corn Summary-
It was a quiet day in the corn market Tuesday, with prices closing marginally lower mostly in sympathy with wheat as there was little news specific to the market itself. There was talk throughout the day in newswires and on social media that ridging in the forecast could produce the first weather scare of the season, but we would argue, at least in a lot of areas throughout the central and eastern parts of the Midwest, that this warmer/drier shift is just what the doctor ordered, so long as it doesn't linger all the way through July and into August. Greenhouse growing conditions are warm and wet not cold and wet, and most areas have the wet part covered.

Soybean Summary-
Mixed trade was had in the soy complex Tuesday, with the beans and the meal mostly higher throughout the day while the oil market corrected gains from Monday on what was a quiet day in terms of news headlines. The biofuel story isn't going anywhere, but futures price action over the last several weeks in bean oil would indicate that the market has maybe done a bulk of the heavy lifting associated with the EPA's new RVO, and that straight upward price action based on developments there may be harder to come by going forward. That's not to say a top is in, but the futures market isn't going to trade the same headlines forever. As to the beans themselves, its Chinese purchases, or the lack thereof that presumably drive the market for the next week, with a considerable amount of attention then on the USDA's acreage figure expected a week from today.

Wheat Summary-
Chicago wheat futures closed lower for a third straight day on Tuesday, as harvest selling pressure was more than enough to offset what most assume would've been some sort of friendliness based on the heat in western Europe. US harvest is advancing quicker than expected, which raises the likelihood that abandonment rates grow but otherwise should be potentially helpful in allowing the market to score an early seasonal low. From a chart standpoint, last week's low at 5.71 marks major downside support in July Chicago futures, and needs to be held to avoid further downward momentum.

Outside News Headlines-
Crude oil futures down $0.40+/bbl.

Weather Updates-
Models continue to be in good agreement on a pattern shift into the weekend and first part of next week, as cool/wet weather across a lot of the Corn Belt the last week or two is replaced by a warmer/drier pattern as the result of ridging across the eastern US.
Exactly where this ridge sets up will be important - if its far enough south, ridge running thunderstorms will be able to come over the top and hit the central Midwest, but if it sets up further north, these storms will push into the far northern parts of the region and into Canada.
There is poor model agreement beyond the next week in terms of rainfall potential, but the two both see a dominant ridge of high pressure lingering across the eastern US into the end of the forecast period on July 8th, which will draw a significant amount of attention in the coming weeks. The sunshine and drier trend will be welcome by many across the Corn Belt, but concern will likely begin to grow should the pattern hold beyond mid-July and into the pollination window.

Enjoy it!


Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
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