Weekly Crop Commentary - 06/05/2026
Jun 05, 2026
Wes Bahan
Vice President, Grain Division
What a week for the grain markets. Broad-based fund selling pressured prices this week as favorable weather, political uncertainty, soft export demand, and bearish technical signals all weighed on the trade. July corn futures pushed to new lows for the move, soybeans broke below key moving averages, and wheat followed the same weaker tone. With Ohio planting progress expected to exceed 90% in the next USDA update, the market is struggling to find a reason to build ownership in corn at current levels. Attention will now shift to the USDA’s end-of-June Grain Stocks and Acreage reports, which are scheduled for June 30 and are likely to be major drivers of price direction heading into July.
Briana Holtzman
Grain Merchandiser, Kenton (Region 1)
Grain markets traded mixed this week as weather, export demand, and outside market influences drove price action. Corn and soybean futures found support from generally favorable export demand and continued monitoring of crop development across key growing regions. Traders remained focused on weather forecasts, with timely rainfall in some areas limiting weather premiums while some concerns lingered about potential heat stress later in the growing season.
Wheat futures experienced additional volatility as global supply concerns and geopolitical developments in the Black Sea region continued to influence market sentiment. Meanwhile, strong competition from South American grain exports remains a headwind for U.S. export sales. Fund positioning and broader commodity market movements also contributed to daily price swings. As the market moves into the heart of the growing season, weather conditions and export demand are expected to remain the primary drivers of grain prices.
Zane Robison
Grain Merchandiser, Urbana (Region 3)
Tractors were rolling everywhere this week. Locally, serious acres got sprayed and side-dressed, and during my drive to Bowling Green earlier this week, planters were scattered across fields everywhere.
I almost want to skip discussing corn altogether, given how it has traded over the past week. July corn has broken through every major support level to the downside, and the only question now is how far the funds want to push this move. We’ve lost more than 30¢ this week across all contracts, and there are currently no concerns about running out of corn or soybeans ahead of this year’s harvest. Finding bullish news is difficult right now as the market continues to wait for either Chinese corn purchases or a weather rally, neither of which has materialized. On a side note, the two-week weather outlook remains generally favorable for China’s crops.
Soybeans followed corn lower despite oil prices surging to nearly four-year highs above $80 per barrel on Monday morning. This year’s strong biofuel demand continues to provide much of the support underneath the soybean market, as beans have broken through most other technical support levels. While higher oil prices should continue to offer some support, there are still no fears of tight soybean supplies. I expect a recovery at some point, but I doubt we’ll return to higher levels without escalating tensions in the Middle East.
Locally, wheat looks fantastic despite continued poor crop ratings in portions of the western Plains. Even so, wheat followed the rest of the grain complex lower this week and is now testing its 200-day moving average. That should provide a floor for the time being, and any additional bullish news from growing Western regions could offer support. If we get back to $6.00 cash wheat before harvest, I’d consider making some sales.
While the markets have continued to slip, we do offer a variety of alternative contracting opportunities. Several of these contracts can help add premium or establish a floor price to protect against further downside risk while maintaining upside potential. If you have questions about any of these options, please reach out. I’d be happy to discuss them and help determine which might best fit your operation.
Lisa Warne
Grain Merchandiser, Marysville (Region 4)
It’s difficult to write commentary after a week like this when there is very little bullish news and the markets finished in the red every day. Since last Friday’s close, corn and wheat futures are down nearly 30¢, and soybeans are down about 60¢ as of midday today. Grains continue to feel fundamental pressure from an overall good start to the 2026 growing season.
As of last Sunday, 93% of the US corn plantings were complete. The first conditions ratings of the year were also released, coming in at 67% Good/Excellent, 4 points below average. US soybean plantings were at 87% complete and rated 66% Good/Excellent. Despite corn condition ratings being slightly below expectations, the weather forecasts throughout the Midwest look very favorable. Ohio’s planting progress was the furthest behind among the Midwest states, but I anticipate seeing massive advancement in next Monday’s report.
Export Inspections on Tuesday were strong for all three commodities, but not a surprise as they fell in the mid-range of expectations. Thursday’s Export Sales report was not impressive. Corn sales did not even reach the low end of the expected range; bean sales fell in the middle of the expected range; and wheat sales saw substantial cancellations, as our wheat is overpriced on the global market.
I hope you’ve made great progress in the fields this week and are ready for some potential rain showers tomorrow. Please continue to be safe out there!
Ralph Wince
Grain Merchandiser, Canfield (Region 5)
Good afternoon. In my comments last week, I said that if the weather held, we would see a great deal of progress by now. Well, that is what has happened. Farmers have worked tirelessly over the past 7 days and made great progress here in NE Ohio. Most of the corn will be in the ground by the end of the day, and many of the beans are in as well. We have a chance of rain tomorrow and then another 5-day stretch before the next system rolls in. That should allow guys to pretty well wrap things up.
Markets have been really ugly this week. There are a number of reasons. First, planting at the national level has gone well, so the first hurdle towards a good crop this year has been cleared. Second, there do not appear to be any weather problems in the next couple of weeks, so there is no reason for the bulls to be concerned yet. Third, we saw an announcement from the Trump Administration yesterday that it may add a new tariff to a list of countries due to their forced labor practices. The markets got excited when they heard that as well. But these new tariffs may not change much because some existing tariffs are expiring, so the net effect may be zero.
Markets have broken through some technical support levels, so we need to be aware of that as well. We are now just about 3 weeks away from the next meaningful USDA report, which will show us the actual acres planted to corn and beans and could have an impact going forward. Have a great weekend.
Morgan Hefner
Grain Merchandiser, Nashport (Region 5)
As of Monday, Ohio corn was reported at 73% planted and beans at 68% planted. With favorable weather conditions throughout the week, it is likely that a majority of the remaining acres across the state have now been planted.
The market has had little to rally around this week. December corn futures tested lows that haven’t been seen since early January. Adding to the pressure was news that the New World screwworm had entered the United States from Mexico, creating uncertainty in the cattle market. Corn is also facing additional downside pressure from this news.
Planting progress continues to move along at a strong pace, and there are currently no major weather concerns threatening the crop. As we move further into June, attention will begin to shift from planting progress to crop conditions. Without a significant weather story or other supportive news, grain markets have struggled to find a reason to move higher.
Have a great weekend!
Vice President, Grain Division
What a week for the grain markets. Broad-based fund selling pressured prices this week as favorable weather, political uncertainty, soft export demand, and bearish technical signals all weighed on the trade. July corn futures pushed to new lows for the move, soybeans broke below key moving averages, and wheat followed the same weaker tone. With Ohio planting progress expected to exceed 90% in the next USDA update, the market is struggling to find a reason to build ownership in corn at current levels. Attention will now shift to the USDA’s end-of-June Grain Stocks and Acreage reports, which are scheduled for June 30 and are likely to be major drivers of price direction heading into July.
Briana Holtzman
Grain Merchandiser, Kenton (Region 1)
Grain markets traded mixed this week as weather, export demand, and outside market influences drove price action. Corn and soybean futures found support from generally favorable export demand and continued monitoring of crop development across key growing regions. Traders remained focused on weather forecasts, with timely rainfall in some areas limiting weather premiums while some concerns lingered about potential heat stress later in the growing season.
Wheat futures experienced additional volatility as global supply concerns and geopolitical developments in the Black Sea region continued to influence market sentiment. Meanwhile, strong competition from South American grain exports remains a headwind for U.S. export sales. Fund positioning and broader commodity market movements also contributed to daily price swings. As the market moves into the heart of the growing season, weather conditions and export demand are expected to remain the primary drivers of grain prices.
Zane Robison
Grain Merchandiser, Urbana (Region 3)
Tractors were rolling everywhere this week. Locally, serious acres got sprayed and side-dressed, and during my drive to Bowling Green earlier this week, planters were scattered across fields everywhere.
I almost want to skip discussing corn altogether, given how it has traded over the past week. July corn has broken through every major support level to the downside, and the only question now is how far the funds want to push this move. We’ve lost more than 30¢ this week across all contracts, and there are currently no concerns about running out of corn or soybeans ahead of this year’s harvest. Finding bullish news is difficult right now as the market continues to wait for either Chinese corn purchases or a weather rally, neither of which has materialized. On a side note, the two-week weather outlook remains generally favorable for China’s crops.
Soybeans followed corn lower despite oil prices surging to nearly four-year highs above $80 per barrel on Monday morning. This year’s strong biofuel demand continues to provide much of the support underneath the soybean market, as beans have broken through most other technical support levels. While higher oil prices should continue to offer some support, there are still no fears of tight soybean supplies. I expect a recovery at some point, but I doubt we’ll return to higher levels without escalating tensions in the Middle East.
Locally, wheat looks fantastic despite continued poor crop ratings in portions of the western Plains. Even so, wheat followed the rest of the grain complex lower this week and is now testing its 200-day moving average. That should provide a floor for the time being, and any additional bullish news from growing Western regions could offer support. If we get back to $6.00 cash wheat before harvest, I’d consider making some sales.
While the markets have continued to slip, we do offer a variety of alternative contracting opportunities. Several of these contracts can help add premium or establish a floor price to protect against further downside risk while maintaining upside potential. If you have questions about any of these options, please reach out. I’d be happy to discuss them and help determine which might best fit your operation.
Lisa Warne
Grain Merchandiser, Marysville (Region 4)
It’s difficult to write commentary after a week like this when there is very little bullish news and the markets finished in the red every day. Since last Friday’s close, corn and wheat futures are down nearly 30¢, and soybeans are down about 60¢ as of midday today. Grains continue to feel fundamental pressure from an overall good start to the 2026 growing season.
As of last Sunday, 93% of the US corn plantings were complete. The first conditions ratings of the year were also released, coming in at 67% Good/Excellent, 4 points below average. US soybean plantings were at 87% complete and rated 66% Good/Excellent. Despite corn condition ratings being slightly below expectations, the weather forecasts throughout the Midwest look very favorable. Ohio’s planting progress was the furthest behind among the Midwest states, but I anticipate seeing massive advancement in next Monday’s report.
Export Inspections on Tuesday were strong for all three commodities, but not a surprise as they fell in the mid-range of expectations. Thursday’s Export Sales report was not impressive. Corn sales did not even reach the low end of the expected range; bean sales fell in the middle of the expected range; and wheat sales saw substantial cancellations, as our wheat is overpriced on the global market.
I hope you’ve made great progress in the fields this week and are ready for some potential rain showers tomorrow. Please continue to be safe out there!
Ralph Wince
Grain Merchandiser, Canfield (Region 5)
Good afternoon. In my comments last week, I said that if the weather held, we would see a great deal of progress by now. Well, that is what has happened. Farmers have worked tirelessly over the past 7 days and made great progress here in NE Ohio. Most of the corn will be in the ground by the end of the day, and many of the beans are in as well. We have a chance of rain tomorrow and then another 5-day stretch before the next system rolls in. That should allow guys to pretty well wrap things up.
Markets have been really ugly this week. There are a number of reasons. First, planting at the national level has gone well, so the first hurdle towards a good crop this year has been cleared. Second, there do not appear to be any weather problems in the next couple of weeks, so there is no reason for the bulls to be concerned yet. Third, we saw an announcement from the Trump Administration yesterday that it may add a new tariff to a list of countries due to their forced labor practices. The markets got excited when they heard that as well. But these new tariffs may not change much because some existing tariffs are expiring, so the net effect may be zero.
Markets have broken through some technical support levels, so we need to be aware of that as well. We are now just about 3 weeks away from the next meaningful USDA report, which will show us the actual acres planted to corn and beans and could have an impact going forward. Have a great weekend.
Morgan Hefner
Grain Merchandiser, Nashport (Region 5)
As of Monday, Ohio corn was reported at 73% planted and beans at 68% planted. With favorable weather conditions throughout the week, it is likely that a majority of the remaining acres across the state have now been planted.
The market has had little to rally around this week. December corn futures tested lows that haven’t been seen since early January. Adding to the pressure was news that the New World screwworm had entered the United States from Mexico, creating uncertainty in the cattle market. Corn is also facing additional downside pressure from this news.
Planting progress continues to move along at a strong pace, and there are currently no major weather concerns threatening the crop. As we move further into June, attention will begin to shift from planting progress to crop conditions. Without a significant weather story or other supportive news, grain markets have struggled to find a reason to move higher.
Have a great weekend!