Morning Markets: Corn: +12.25 old & +13.50 new.
Beans: +31.25 old & +34.50 new. Wheat: +10.50.
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.
MARKET SUMMARY:
Good morning. Ag futures in Chicago are higher to sharply higher across the board this morning coming out of the long holiday weekend, with both the corn and soybeans having shot to their highest levels in about a month on a warmer/drier forecast for the Midwest over the next couple weeks than was seen going home on Thursday. Outside of an injection of weather premium though, there's not a lot else readily present this morning to blame for the sharp jump in prices, as the status quo in both the Middle East and in regards to relations with China seem to be mostly unchanged this morning. Corn futures to start the new week are trading 13-14 cents higher, soybean futures are trading 30-33 cents higher, and the Chicago wheat market is trading 9-10 cents higher; all three are at or near their overnight highs.
Crude Oil is down $0.39 at $68.30
US Dollar is up at $101.06
Dow futures are down 81 points at 53,102
WEATHER:
- Weekend weather for the Fourth of July holiday was a mixed bag for most of the Midwest, with thunderstorm activity providing scattered rainfall to some parts of the region, while others saw a mix of sun and clouds but little in the way of precip. Generally speaking, the best rains fell across a strip from central IA east into northern IL/IN and southern MI, while areas both north and south of here saw lesser, more scattered totals.
- For this week, this morning's EU model sees a couple rounds of precip possible between now and Saturday, with the best accumulation expected across the far northern part of the region and also across the mid-south and into the mid-Atlantic part of the southeast. Like we talked about last week, the convective nature of these storms will make exact rainfall amounts/locations difficult to predict, but generally speaking, it looks like the north-central part of the Corn Belt from southern MN to OH will see a drier trend the next several days.
OTHER HEADLINES:
- The CME Group for Monday morning assigned another 150 contracts of July corn futures for delivery, along with 119 contracts of KC wheat, 67 contracts of rough rice, 20 contracts of oats, 1 contract of soybeans, and 1 contract of Chicago wheat.
- OPEC+ announced over the weekend that it would be further increasing production by some 188,000 bbls/day beginning in August, leading to additional concerns by some over a sharp increase in global supplies as conditions in the Strait of Hormuz normalize. The announcement also begets the question of whether or not the additional output will be able to be shipped following US/Israeli attacks on infrastructure in the region.
- Soufflet Agriculture, one of France's biggest grain handlers, said they see French soft wheat production this year coming in at 31.5-32.0 MMTs, which if accurate, would compare to 33.4 MMTs last year. The group said it expected good yields in the north and the east to offset poorer results in the west that have been impacted by record heat and dryness, adding that it had taken in around half of its expected harvest volume already. FranceArgiMer showed total wheat harvest in the country at 26% complete as of June 29th.
- Staying on the other side of the world, Russian rail operator Rusagrotrans said over the weekend that wheat exports out of the country for the month of July, which is the first in the new marketing year, are expected between 1.9-2.2 MMTs, which would be up some 18% from the figure seen in July last year. Exports in June, comparatively, totaled 2.3 MMTs.
- The Buenos Aires Grain Exchange said last week in a weekly update that wheat planting in the country had reached 81% complete, up 15% on the week prior as dry field conditions allowed good progress to be made. The group also showed corn harvest continuing to lag both last year and average though at just 53% complete, mentioning that moisture levels both in fields and in the grain itself were too high and limiting progress pace.
- Data posted to the Ukrainian Ag Ministry's website shows grain and legume exports in the 2025/26 marketing year that ended June 30th totaled 37.5 MMTs, which is down 8% from the year prior and down some 18% from forecasts earlier in the season. Wheat exports at 14.13 MMTs were down 10% on the year, corn exports at 21.3 MMTs were down 3%, and barely exports at 1.52 MMTs were down 34%.
EXPORT NEWS:
- N/A
Be careful!
Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
