Monday, June 8, 2026
Morning Markets: Corn: -2 old & -1.50 new.
Beans: -3.25 old & -2.50 new. Wheat: -0.50 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. Ag markets in Chicago are lower again this morning to get Monday trade started, but are off their lows in the case of all three crops as Middle East headlines and computer/algorithm trading look to once again dominate a lot of the price action this week. We talked about it last week going into the weekend, but markets are oversold and due for a bounce, the questions now are just what causes it and from what level does it occur. Weather, biofuels, China, and Iran are likely the dominant news stories again this week, with day-to-day price action mostly dependent on which of the four are getting the most headlines/attention that day.
Corn futures to get the week started are trading 2-3 cents lower, soybean futures are trading 3-5 cents lower, and the Chicago wheat market is trading 1-2 cents lower.
Crude Oil is up $1.30 at $91.84
US Dollar is down at $99.92
Dow futures are down 695 points at 50,866
WEATHER:
OTHER HEADLINES:
EXPORT NEWS:
Noah Richardson
Topflight Grain Seymour
202 N Main Street, Seymour IL 61875
nrichardson@tfgrain.com
www.topflightgrain.com
Morning Markets: Corn: -2 old & -1.50 new.
Beans: -3.25 old & -2.50 new. Wheat: -0.50 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. Ag markets in Chicago are lower again this morning to get Monday trade started, but are off their lows in the case of all three crops as Middle East headlines and computer/algorithm trading look to once again dominate a lot of the price action this week. We talked about it last week going into the weekend, but markets are oversold and due for a bounce, the questions now are just what causes it and from what level does it occur. Weather, biofuels, China, and Iran are likely the dominant news stories again this week, with day-to-day price action mostly dependent on which of the four are getting the most headlines/attention that day.
Corn futures to get the week started are trading 2-3 cents lower, soybean futures are trading 3-5 cents lower, and the Chicago wheat market is trading 1-2 cents lower.
Crude Oil is up $1.30 at $91.84
US Dollar is down at $99.92
Dow futures are down 695 points at 50,866
WEATHER:
- Weekend weather across the Midwest was variable, with most seeing summer-like warmth while precipitation was better in the south/southwest than it was further to the north. Satellite data shows good rains of 2+" were seen through southeast NE and through southern IA, while most of the western 2/3s of MO also saw similar totals. Pockets of northern IL and IN saw similar rains, but totals generally declined further north and east, with WI/MN picking up just a half inch to an inch, with southern IL/IN and down into KY/TN didn't see much of any precipitation.
- This morning's models have this precipitation working east though through the week this week, with the EU run today calling for anywhere from 1-3" of rainfall generally speaking over the next five days for an area stretching from MN to WV. The map has coverage a little better through the southern part of this region, but most all of the eastern US besides the Gulf and southeast look to see some sort of measurable rainfall over the next five days.
OTHER HEADLINES:
- Friday afternoon's CFTC Commitment of Traders report for the week ending June 2nd showed another massive week of fund selling across the CBOT. Managed money traders were sellers of 90,422 contracts of corn (+115,082), sellers of 33,501 contracts of soybeans (+156,050), and sellers of 39,165 contracts of Chicago wheat (-57,871); according to our data back to 2006, this was the largest week of fund selling in Chicago wheat on record. In the products, funds were buyers of 4,091 contracts of meal (+127,070) and were buyers of 15,015 contracts of soybean oil (+156,433).
- Sources familiar with the matter are reporting that the Novorossiysk Grain Plant, one of Russia's largest deep-water grain terminals in the Black Sea region, is operating normally this morning following a drone strike on the plant over the weekend. Efforts were under way to contain fires at parts of the facility, but there were no causalities reported. The port has storage capacity for around 250,000 tons of grain.
- Canada's Food Inspection Agency issued a statement on Friday blocking livestock that have originated in or passed through the state of Texas in a 21 day period prior to crossing the Canadian border, with the group calling the move an "appropriate risk mitigation measure" following New World Screwworm detections in the US last week. Other states in the US, including Georgia, have implemented similar measures to attempt to halt the spread of the parasite.
- According to Green Markets data compiled by Bloomberg, nitrogen fertilizer prices, represented by granular urea prices out of the Middle East, fell some 22% last week to $533/metric ton. Prices during May were said to be down some 41% during the month, but were still up around 9% compared to those seen before the war started
- Last week's equity market sell-off on Friday was fueled in large part by much better-than-expected payroll figures for May, which surged by 172,000 jobs. The strong report raises the odds that interest rates are ratcheted back up before the end of the year, which spurred selling across a host of financial markets..
EXPORT NEWS:
- N/A
Noah Richardson
Topflight Grain Seymour
202 N Main Street, Seymour IL 61875
nrichardson@tfgrain.com
www.topflightgrain.com
