Monday, June 8, 2026
Closing Markets: Corn: +1.25 old & 0.0 new.
Beans: -5.75 old & -2 new. Wheat: +3.25.

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-
Soybean and meal futures saw lower trade throughout most the day Monday to get the week started, while the grain markets uncovered bottom-picker type buying throughout the morning hours to work off their lows and close mixed/higher by the end of the day. Soybean oil, meanwhile, continued to trade in tandem with the energy markets, seeing a mid-morning turn around shortly after the crude oil market did that produced higher closes by the end of the day here also.

Corn Summary-
Corn futures closed mixed to start the week on Monday, seeing a morning bounce after falling to new contract lows again first in the overnight hours, signaling perhaps that the managed money exodus seen during the last several days has potentially run its course. While mechanically it’s the fund selling that has produced the price action seen the last week or two, it’s also a matter of improving rainfall across a lot of the Midwest and a continually increasing crop size in Argentina that has given the market headwinds of late and helped to limit the upside. There's a lot of growing season left in the US, but the way seed genetics have been the last couple years, a 2-4" rain the second week of June would do a lot of producers a lot of good in terms of getting the crop to the July pollination period. Stand questions due to a cool/wet April will remain a question, but there has been little else this growing season that would justify much below trend yields to this point.

Soybean Summary-
Soybean futures closed lower on Monday for the seventh straight session while the products were mixed as there continues to be a pessimistic feel to the market regarding the lack of business from the Chinese and with bean oil continuing to garner a lot of the attention in the space on a day-to-day basis. After seeing sharp falls to end the week last week, crush margins took another step back on Monday also, helping produce the bearish sentiment felt throughout most of the day. Amid extremely oversold chart conditions, we are of the opinion that a dead-cat-bounce occurs at some point sooner than later, but would see a larger recovery at this point as tied to a larger supply issue or some sort of new, reliable demand source and today, neither of those things seems overly likely. There have been a couple new crop sales flashes to unknown destinations in recent weeks, but traders would like to see China show up in a known category and for the 10% import duties to be dropped officially before assuming any of this business is Beijing.

Wheat Summary-
Reuters reported Monday, citing European cash traders, that a group of flour millers in South Korea purchased around 19,500 MTs of milling wheat from the US last week for shipment off the PNW in September. The buyers also purchased around 10,500 MTs of wheat from Canada. The Chicago wheat market put in the best close of the row crops to get the week started on Monday, closing higher after first scoring new lows below what had been made last week and also probing the 200-day moving average on the downside for the first time since February. The above-mentioned rumored cash business by South Korea was likely at least part of the support throughout the day, as this could be signaling the market has again worked low enough to attract global business after rallying on US crop losses over the last 3-4 weeks. Russian prices were also said to have fallen more in line with the rest of the world over the last week according to traders, which means global price spreads seem to be normalizing.
Outside News Headlines-
Crude oil futures up $1-2 /bbl.

Weather Updates-
Hot, stormy weather looks to be on tap for much of the Corn Belt this week, likely benefiting a lot of areas where soils were beginning to run a little on the drier side. Models today have rainfall totals over the next five days ranging from a half inch to upwards of 3-4" through some areas in KS/MO and also in WI, with most everywhere in the Corn Belt expected to receive some sort of measurable precipitation.

Temperatures will remain hot throughout most of the Midwest and central part of the US this week and into the weekend, with daytime highs expected to routinely stay in the upper 80's/lower 90's.

Precipitation outlooks into mid-month are much like they were going into the weekend last week, and have much of the eastern and southeastern parts of the US continuing to see above average rainfall chances. Models see normal precipitation anomalies in the southwest, and are mixed in the northern Plains and northwest.

Beyond this weekend and into next week, models have a trough forming across the central part of the country, which likely brings cooler air temperatures with it and pushes out much of the heat seen last week and into this week. Ridging in the Pacific will likely keep it warm in the west, but the heat stays generally confined to areas west of the Rockies.


Noah Richardson
Topflight Grain Seymour
202 N Main Street, Seymour IL 61875
nrichardson@tfgrain.com ... See MoreSee Less