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Morning Comments

Monday, June 1, 2026  
Morning Markets: Corn: -1 old & -1.25 new.
Beans: +5.25 old & +4.50 new. Wheat: +1.75 old & new.
 
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. Markets are trying to recover a bit this morning to get both the new week and the new month started, but it has been a low volume effort so far to this point amid what continue to be rather confusing headlines coming out of the Middle East and the lack of any sort of real crop threat from a weather standpoint across the Midwest. We're beating the dead horse, but it's the same mixture of market inputs present to start last week (the Middle East, weather, and China buying potential) that are going to control trade this week until something of note changes on any of the three fronts. Corn futures to start Monday morning are trading unchanged to a penny lower, soybean futures are trading 3-5 cents higher, and the Chicago wheat market is trading 1-3 cents higher.
 
Crude Oil is up $2.04 at $89.40
US Dollar is up at $99.05
Dow futures are up 166 points at 51,243
 
WEATHER:
  • Weekend precip across the Corn Belt was largely as expected, with good rains impacting the west and northwest over the last couple days. Satellite data has rainfall totals ranging from a trace tenth or two to upwards of 4-5" in some local areas over the last 72 hours, with the best coverage seemingly focused on the KS/MO area. Additional precip was also noted throughout the southeast, where rains over the last week have totaled more than 6-8" in some places.
  • Forecast-wise for this week, models have high pressure across the eastern/northeastern US continuing to linger, which will keep these parts of the country on the warmer/drier side for another several days. This morning's precip forecast for the week from the EU model has rains of a half inch to two inches or so impacting the mid-section of the country from TX to ND between now and early Saturday morning, while moisture in the southeast stays pushed more into the Gulf and most of the eastern Midwest and northeast stay dry.
  • Temperatures for the week look to stay somewhat mixed north to south, with the southern part of the country and into the Gulf seeing daytime highs slightly below normal for the most part, while most everyone else will have summer-like warmth in place through the week and into next weekend. For now, models are keeping high pressure anchored across North America, which is the main source of all the warmer air that the forecasts are picking up on.
 
OTHER HEADLINES:
  • Friday afternoon's CFTC Commitment of Traders report, with data for the week ending May 26th, showed managed money traders in the week were sellers of a massive 87,850 contracts of corn (+205,504), sellers of 18,253 contracts of soybeans (+189,552), and sellers of 13,907 contracts of Chicago wheat (-18,706); in the soy products, funds were sellers of 7,574 contracts of meal (+122,979) and sellers of 15,017 contracts of oil (+141,418).
  • The USDA is set to release monthly soybean and grain crush data this afternoon at 2pm central time. According to a Bloomberg survey of analysts, traders see the reports showing US soybean crush in April at 214.8 mil bu, which would be up 6% from last year, and see corn grind in the month at 449.5 mil bu, which would also be up 6%; soybean oil stocks as of the end of the April are estimated at 2.365 bil lbs, up nearly 20% from last year.
  • The USDA said in a statement last week that a new case of New World Screwworm has been detected in a sheep just 31 miles south of the US-Mexico border, heightening the risk the parasitic virus could push further north despite millions of dollars in efforts to help contain the pest's spread over the last year+.
  • Russian Ag Minister Oksana Lut said late last week at a board meeting that Russian grain exports in the the current season were now set to hit upwards of 60 MMTs, which is an increase from a previous forecast of 54-55 MMTs. Lut said total grain harvest should hit around 144 MMTs, with about 94 MMTs of this being wheat.
  • A Ukrainian grain traders union said this week that combined grain and oilseed production in 2026 was expected to increase to around 84 MMTs, up from the roughly 80 MMTs produced in 2025. Production and exports of both wheat and corn are expected to be up from the year prior, but soybean production and exports are each expected to come in slightly lower than the year prior.
  • Data shows D4 RIN prices hit record levels last week, as stronger EPA mandates and a widening gap between biodiesel and conventional diesel prices has continued to drive values higher. The renewable credits were trading at a record $2.32 on Friday, which compares to a price of around $1.50 in March before the new EPA mandates were announced. Ethanol blending credits (D6 RINs) also hit record price levels last week.
 
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