Friday, June 26, 2026
Closing Markets: Corn: -2 old & -1.50 new.
Beans: -1.25 old & -0.75 new. Wheat: -11.75.

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-
Happy Friday. Mixed/mostly lower was the trade at the CBOT to end the week this week, with volume good but not great and fresh input again lacking amid what continues to be a precarious mixture of cash rumors, developments in the Middle East, and weather forecast adjustments. The sheer amount of unknowns currently present has without a doubt contributed to the choppy trade this week, but we unfortunately have little insight today as to when this changes - on one hand, we could come in Monday and the US and Iran could be trading missiles again, China could buy a million tons of corn and beans, and the US high pressure ridge could extend into the end of July; on the other hand, Trump could call an all clear in Iran, China could continue not buying US ag's, and the high pressure ridge could subside beyond the first week or two of the month. The two scenarios would produce vastly different market reactions and illustrate what we mean by the sizeable amount of unknowns.




Corn Summary-
Corn futures closed lower for the fourth out of five days this week, though the Thursday pop was enough to keep weekly losses at a minimum. From a chart standpoint, that the weekly chart gap was filled and not expanded upon is a good sign for the bulls, but we see weather and acreage estimates both next week and through the month of July as being larger drivers of price longer term. Today, we don't see a lot of reason for old crop futures to trade below the $4 level, but we also don't see a lot of reason for a rally unless heat builds through pollination or Chinese demand starts showing up on the export front. It's not exciting, but a sideways trading pattern between 4.00 and 4.50 seems to be the path of least resistance for the time being.

Soybean Summary-
The soy complex finished the week mixed, with the beans on either side of unchanged, the oil higher, and the meal lower on what became another day without any evidence of new sales to China which produced choppy, two-sided price action. Baring something new out of the Middle East over the weekend that produces a move in bean oil Sunday night, we imagine Monday's trade features position squaring ahead of the Tuesday reports, which means price action likely stays choppy. Traders fear a bigger than expected acre number and are also concerned over a sizeable on farm stocks reading, which would both be bearish developments.

Wheat Summary-
Wheat futures led the downside charge at the CBOT on Friday, with July Chicago futures closing at their lowest level since March on what was seemingly another round of hedge selling going into the weekend. Seasonal bottoms are due shortly, and we are curious if next week produces one more final push lower before a reversal is scored or if the quasi-triple bottom made over the past few weeks just above 5.70 holds through the end of harvest.

Outside News Headlines-
Crude oil futures down $2.40+/bbl.

Weather Updates-
Following rains across the southern Midwest throughout the day today, forecasts for the rest of the weekend have another smaller chance of rainfall on Sunday, but show generally drier conditions then into next week as high pressure ridging settles in. There will be thunderstorm activity around the ridge's periphery next week, but these rains generally look to stay west and north of the primary growing regions in the Corn Belt.
The ridging, as we've talked about all week, will also bring about a warmup in temperatures starting early next week in the eastern US, with daytime highs across the Midwest expected to be in the 80's/90's for several days, while the highs in the Plains are seen in the 90's/100's. Equally as important though, if not more importantly, will be nighttime lows that are routinely in the mid/upper 70's, which will add to crop stress.
The extended forecast this afternoon is again little changed. The models see the eastern US high pressure ridge retrograding west beyond the Fourth of July holiday next weekend, but where exactly it sets up and how that relates to ridge-riding thunderstorms into the back half of the month will continue to be a question mark through the week next week.


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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