Monday, June 22, 2026
Closing Markets: Corn: -6 old & -4.50 new.
Beans: -7 old & -1.25 new. Wheat: -8.25.

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-
Ag futures were mostly lower to start the week on Monday, seeing expanding selling throughout most of the morning in every market but bean oil on limited fresh news and generally low volume as traders await next week's stocks/acreage updates before taking any sort of sizeable new positions. A warmer shift in the forecast would be of benefit to a lot of producers across the Midwest, and it's likely this and positioning for the report next week, along with ongoing progress on an end to the war in Iran, that weighed on market values Monday.

Corn Summary-
Corn futures started the week lower on Monday, falling back to the lower end of the trading range carved out last week on what was a fairly slow/quiet return from the three-day weekend. Despite the market closing lower, weather forecasts and growing conditions are slowly starting to creep back into the market conversation, with a high-pressure ridge forecast for the July pollination window raising some eyebrows throughout the day. Next week's stocks and acreage updates are obviously fundamental point of interest number one, but once that data is released, we assume should that ridge still be in the forecast, it will likely draw a lot of the trader attention thereafter. That said, we would caution against turning downright bullish on a warm July weather forecast, which a) isn't all that uncommon and b) comes amid soil moisture boosts the last two weeks that could likely carry some areas all the way to August. Conditions aren't as good as they were last year when arguments for yields well above trend were being made, but they've likely still been good enough at this point to produce yields that at least come close to trend.

Soybean Summary-
The soy complex closed mixed on Monday, with the beans and meal seeing down trending price action throughout much of the day while the bean oil market saw steady buying on biofuel related headlines from last week and as a lot of the stale longs in the space have likely been washed out over the last several days. Traders had been looking for additional Chinese bean purchases to show up this morning after last week's flash on Thursday, but there was no such business to be found which turned the trade largely technical for the rest of the morning. For bean oil, the decoupling from the energy markets not only illustrates what most feel is a winding down of escalations in Iran, but also further highlights the bullish fundamentals behind the market that should keep prices supported regardless of the war into the back half of the year. China buying continues to be the biggest market wildcard, but strong bean oil fundamentals should to some extent support the complex in the short term.

Wheat Summary-
Chicago wheat futures closed lower Monday but continue to trade well above the lows made last week as news outside of global production updates remains generally slow. Harvest has started across a host of producing nations, not only the US, which means hedge pressure is likely to be common place in the days/weeks ahead. However, once that hedging passes the way point, seasonals point to a post-harvest low being formed, and we don't see at this point why this year would be any different.

Outside News Headlines-
Crude oil futures down $1.50+/bbl.

Weather Updates-
Midwest weather the first part of the week this week looks to be largely similar to what was seen last week, with the forecast calling for scattered thunderstorm/rainfall activity to continue, especially across the southern part of the region and into the southeast. Monday's European model precip map, which has been the more accurate of the two, has rainfall totals the next five days ranging from 1-3", with heavier rains expected to the south and west.
However, much like was the case last week, exact rainfall locations/amounts will be extremely difficult to pinpoint in a forecast this week due to the convective nature of the storms that are expected.
The extended forecast into July has trended warmer and drier for the Midwest, though concern levels with such a forecast vary a bit by region. Confidence is not high, but the models are trying to bring ridging back into the central part of the US around the Fourth of July holiday, while a large low-pressure trough is anchored over the northwest. How the upper-level atmospheric pressure pattern progresses this week will be the main thing to watch for into the end of June.


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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