Thursday, June 4, 2026
Morning Markets: Corn: -3.75 old & new.
Beans: -6.50 old & new. Wheat: +1.
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 markets are continuing their precipitous declines this morning, again dropping to new lows across the space as the bleeding seen the last several days looks set to continue into Thursday on more fund liquidation. Generally speaking, it’s the same news and headlines again this morning that are continuing to drive price action, but the screwworm news out of Texas could potentially be a new bearish development should it lead to actual herd losses.
Corn futures to start Thursday are trading 3-4 cents lower (and have scored new contract lows in the old crop), soybean futures are trading 5-7 cents lower, and the Chicago wheat market is trading either side of unchanged.
Crude Oil is down $3.21 at $92.81
US Dollar is down at $99.26
Dow futures are up 505 points at 51,308
WEATHER:
OTHER HEADLINES:
EXPORT NEWS:
Be careful!
Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
Morning Markets: Corn: -3.75 old & new.
Beans: -6.50 old & new. Wheat: +1.
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 markets are continuing their precipitous declines this morning, again dropping to new lows across the space as the bleeding seen the last several days looks set to continue into Thursday on more fund liquidation. Generally speaking, it’s the same news and headlines again this morning that are continuing to drive price action, but the screwworm news out of Texas could potentially be a new bearish development should it lead to actual herd losses.
Corn futures to start Thursday are trading 3-4 cents lower (and have scored new contract lows in the old crop), soybean futures are trading 5-7 cents lower, and the Chicago wheat market is trading either side of unchanged.
Crude Oil is down $3.21 at $92.81
US Dollar is down at $99.26
Dow futures are up 505 points at 51,308
WEATHER:
- The Midwest weather conversation through the rest of the week and into next week continues to be focused on model precip differences, as this morning's EU model run is still wetter through the central US and into the southeast, as well as the northwest, while the GFS is wetter through the eastern and east-central parts of the Midwest and through the Ohio and Mississippi River valleys. Precip expands into next week, but exactly where these rains fall is going to be the big question the next several days.
- Extended forecasts into the middle of June are in better agreement this morning, but still show differences in precip anomalies through the central and northern parts of the Midwest. Temperature forecasts still show cooler air emerging through the central US into mid-month, but heat looks to stay present in both the eastern and western parts of the US otherwise.
OTHER HEADLINES:
- This morning's weekly export sales report, with data for the week ending May 28th, is expected to show old crop corn sales in the week between 900k-1.5 mil MTs, old crop soybean sales between 100k-500k MTs, and old crop wheat sales between (200k)-100k MTs. For the new crop, corn sales are seen between 100k-600k MTs, soybean sales are seen between 60k-300k MTs, and wheat sales are seen between 250k-600k MTs.
- Monthly export data from the Brazilian government showed soybean exports out of the country during May totaled 14.825 MMTs, which was up a little over 5% from the same month last year. Meal exports in the month were up almost 13% from last year at 2.629 MMTs.
- Sources familiar with the matter say Chinese state grain buyers could increase wheat purchases in the coming months as excessive rains in some areas during harvest have led to crop damage. Analysts say total production could fall as much as 7% from previous estimates, or some 5-10 MMTs.
- The American Fuel and Petrochemical Manufacturers (AFPM) trade group, which represent US oil refiners, filed a lawsuit in the past week challenging the EPA's new biofuel blending mandates, saying that will sharply increase compliance costs and domestic fuel prices. The group also argued that the mandates exceed current US production capacity, which could force producers to import fuel and feedstocks, driving up costs that would later be passed on to consumers.
EXPORT NEWS:
- Private exporters reported sales of 115,000 metric tons of corn for delivery to Colombia during the 2026/2027 marketing year.
Be careful!
Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
