Morning Markets: Corn: -2.75 old & -1.50 new.
Beans: +3.50 old & +2.75 new. Wheat: -5.25.
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.
MARKET SUMMARY:
Good morning. Happy belated Father’s Day to all of those out there. You are appreciated. Futures markets at the CBOT are mixed this morning coming out of the long three-day holiday weekend, with the grain markets generally lower while the soy complex is mixed/mostly higher on what has been a fairly quite/low volume overnight session of trade. Outside of weather, which we assume will continue to gain in importance as the calendar gets to July, it's macro headlines and world geopolitics that again seem to be driving things to get the week started, with next week's quarterly stocks and acreage updates then looming large on the horizon.
Corn futures to get Monday started are trading either side of unchanged but have been mostly lower overnight, soybean futures are trading 4-6 cents higher, and the Chicago wheat market is trading 1-2 cents lower.
Crude Oil is down $1.33 at $74.52
US Dollar is up at $100.93
Dow futures are up 89 points at 52,097
WEATHER:
- Weekly barge traffic data released by the USDA last week showed total barge shipments down the Mississippi River in the week ending June 13th at 516.6k tons, which was down 23% from the week prior. Corn shipments were down 14% on the week at 319k tons and soybean shipments were down 36% on the week at 178k tons. STL barge freight rates were seen at $15.20/short ton, which was down 92 cents from the week prior.
- Wet weather seen throughout a lot of the central and eastern parts of the US over the last week looks to continue for the most part into this week, though preicp totals over the next five days will significantly favor the southern/south-central parts of the region while the northern and central parts of the Midwest see lesser totals and more spotty coverage. Temperatures are seen staying cooler to average through the first part of the week but then warming back to above normal by the weekend, which would likely be crop-positive given the abundance of moisture received by a lot of areas over the last 10 days.
OTHER HEADLINES:
- Thursday afternoon's Cattle on Feed update from the USDA showed the US feedlot herd as of June 1 at 11.682 mil head, which was near trade expectations and up a little over 2% from a year ago. Placements during May came in at 1.704 mil head (-10% from a year ago) and marketings came in at 1.551 mil head (-12% from a year ago).
- In a Sunday social media post, the USDA said it had found three more cases of New World screwworm in TX, bringing the total number of confirmed cases in the US to 15. The headline indicates the pest is continuing to spread despite ongoing efforts at containment that have largely drawn the ire of Texas cattleman and ranchers.
- Country-specific customs data from the Chinese government, out over the weekend, showed China imported 1.66 MMTs of US soybeans during the month of May, which was up almost 2% from the same month last year as purchases made last fall/winter have continued arriving at Chinese ports. The data also showed imports from Brazil during the month at just 9.96 MMTs, which is down some 18% from the same month last year. Cumulative US imports this year now stand at 8.38 MMTs (-43%), while Brazil stands at 22.68 MMTs (+7%).
- The US Federal Reserve on Wednesday took a notably hawkish tone and removed key forward guidance in keeping interest rates unchanged in the 3.5-3.75% range. The Fed emphasized that inflation remains too high, with nine officials now looking for a rate hike before the end of the year. Chairman Warsh repeatedly told reporters that the Fed would deliver price stability, while also confirming that he did not, in fact, submit a dot to the dot plot, adding that a broader review of Fed communications was ongoing. Overall, the meeting leaned restrictive, as the tone clearly shifted more hawkish short term.
- The Rosario Grain Exchange released a report on Friday saying that Argentina's place as the world's leading meal exporter could be under threat as weaker domestic prices and shifting markets continue to further squeeze processor margins. The Exchange estimates Brazil meal exports in 1H 2026 north of 12.3 MMTs, while Argy exports are seen just a million tons more at 13.3 MMTs; this gap, now expected to drop below 10% by June, was at nearly 90% in 2021 and still more than 20% during the first half of 2025.
- Staying in Argentina, weekly crop data from the Buenos Aires Grain Exchange, released last week, showed soybean harvest had nearly wrapped up at 97.2% complete, while corn harvest advanced 5% to 48% complete; the group left production unchanged for both crops at 50.1 MMTs and 64.0 MMTs respectively. The group added that despite mostly unfavorable weather in the south, wheat planting advanced 13.4% on the week to 58% complete, which is slightly behind last year but still well ahead of average.
- Reuters reported over the weekend, citing data from from Descartes Datamyne, that US imports of fertilizers from the Middle East fell to zero during the month of May, which contributed to a nearly 50% decline in total fertilizer imports during the first five months of 2026 to just 552,767 MTs.
- Weekly barge traffic data released by the USDA last week showed total barge shipments down the Mississippi River in the week ending June 13th at 516.6k tons, which was down 23% from the week prior. Corn shipments were down 14% on the week at 319k tons and soybean shipments were down 36% on the week at 178k tons. STL barge freight rates were seen at $15.20/short ton, which was down 92 cents from the week prior.
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
