Weekly Crop Commentary - 06/26/2026
Jun 26, 2026
Wes Bahan
Vice President, Grain Division
Grain markets had a softer tone early in the week as good crop conditions, fund selling, and weaker outside markets weighed on prices. Corn and soybeans found some late-week support from short covering, renewed weather concerns, and talk of stronger soybean demand from China. For farmers, the main takeaway is that the market is still very weather-driven, with corn heading toward pollination and traders watching for any hotter or drier pattern that could add a risk premium back into prices. Soybeans may get help from export interest and biofuel demand, but a larger acreage number could limit rallies, while wheat remains choppy as harvest pressure competes with global weather concerns and quality reports.
The biggest items to watch next week are the June 30 USDA Acreage and Grain Stocks reports, updated weather forecasts, confirmed export sales, and early wheat harvest quality, all of which could influence cash bids, basis opportunities, and pricing decisions going into July.
Brana Holtzman
Grain Merchandiser, Kenton (Region 1)
We continue to see beneficial rainfall across the Midwest for the corn and soybean crops. While these timely rains have been favorable for crop development, they have also slowed wheat harvest progress. We have not yet received any new-crop wheat at Kenton, but we anticipate seeing deliveries begin next week as hot, sunny weather helps fields dry out.
On the global front, geopolitical tensions in the Middle East continue to influence commodity markets. Earlier this week, Iran and the United States indicated a willingness to work toward a peace agreement during a proposed 60-day ceasefire. However, renewed tensions later in the week have created uncertainty, and markets will continue to monitor developments closely for any potential impact.
Looking ahead, the USDA will release the 2026 Acreage Report and Quarterly Grain Stocks Report on Tuesday. Current trade expectations lean toward bearish acreage and grain stocks figures, which could add pressure to the markets if the reports come in as expected. As always, any surprises in the data could lead to increased market volatility.
Zane Robison
Grain Merchandiser, Urbana (Region 3)
Yet another slow week for grain markets as wheat harvest has begun locally, and we brace ourselves for the coming heat wave.
Markets were quiet for most of the week until Thursday, when we saw a nice bounce of about 8¢ in corn and nearly 20¢ in soybeans. Where did the sudden strength come from? I think it was a combination of a few things. First, weather concerns have started to creep back into the market, with the so-called “Dome of Doom” (yes, it’s a real term) expected to push temperatures well above 100°F across much of the Corn Belt. Headlines that Iran had attacked a cargo vessel also gave crude oil a brief lift, although those gains have since faded.
While everyone was searching for a headline to explain the rally, we may be overlooking the fact that someone stepped in to defend the $4.00 level in July corn futures. Whether it was a large commercial buyer or managed money, there appears to have been a willingness to own corn at that price, which likely helped stabilize the market. Tuesday’s USDA Quarterly Grain Stocks and Planted Acreage reports should give us a much better idea of the size of this fall’s crop. No major surprises are expected, but these reports have a history of moving markets if the USDA makes any unexpected adjustments.
Have a great weekend!
Lisa Warne
Grain Merchandiser, Marysville (Region 4)
Here we are at the end of June, and wheat is beginning to roll across the scales. Here at Marysville, we’ve had a couple of good days under our belt to ramp up for the expected large days next week. So far, we’re seeing an average moisture of around 16%, but we anticipate that next week’s heat will accelerate maturity. The quality has been good so far, with no vomitoxin issues in what we’ve seen. If you’re not signed up for our location hours text messages, ask your local branch to add you to our distribution lists so you can receive information about extended hours.
As for the markets this week, we saw a key reversal yesterday, giving grains a little recovery boost. Cash corn and beans are basically back to where they closed last week. November beans closed back above the 100-day moving average, resulting in an over-a-dime increase for the week. The shifts in macro markets were probably the biggest influence yesterday, with the US Dollar Index taking a step back after surging higher earlier in the week.
Looking ahead, next week we have the USDA Acreage and Stocks reports out on Tuesday. That critical report, generally expected to be bearish, combined with hot temperatures in the forecast, could create a volatile market next week. These reports and growing conditions will play a vital role in shaping the market's direction over the next couple of months.
Morgan Hefner
Grain Merchandiser, Nashport (Region 5)
Negotiations between the U.S. and Iran continued throughout the week, with reports indicating that oil continues to flow through the Strait of Hormuz. While this is important and continues to be watched, it did not seem to specifically drive the grain markets this week.
Monday’s crop progress report showed the U.S. corn crop holding steady at 68% good-to-excellent. In Ohio, however, corn good/excellent ratings were at 57%, down from 64% the previous week. Soybeans told a slightly different story, with Ohio improving from 49% to 55% good-to-excellent. Nationally, soybean ratings remained unchanged at 66% g/ex.
Looking ahead, next Tuesday, the acreage report will be released, giving us a better idea of what has been planted. The weather is now becoming more of a driving factor as we enter the heat of summer. Now that the crop is planted and growing, it’s also a good time to evaluate your marketing plan. If you have been waiting to make additional sales post-planting, now is a great time to reward the rallies and limit some of your risk.
As we move into the wheat harvest, feel free to reach out if you would like to be added to a text list with our extended hours. Our website and app will also be updated daily with this information.
Vice President, Grain Division
Grain markets had a softer tone early in the week as good crop conditions, fund selling, and weaker outside markets weighed on prices. Corn and soybeans found some late-week support from short covering, renewed weather concerns, and talk of stronger soybean demand from China. For farmers, the main takeaway is that the market is still very weather-driven, with corn heading toward pollination and traders watching for any hotter or drier pattern that could add a risk premium back into prices. Soybeans may get help from export interest and biofuel demand, but a larger acreage number could limit rallies, while wheat remains choppy as harvest pressure competes with global weather concerns and quality reports.
The biggest items to watch next week are the June 30 USDA Acreage and Grain Stocks reports, updated weather forecasts, confirmed export sales, and early wheat harvest quality, all of which could influence cash bids, basis opportunities, and pricing decisions going into July.
Brana Holtzman
Grain Merchandiser, Kenton (Region 1)
We continue to see beneficial rainfall across the Midwest for the corn and soybean crops. While these timely rains have been favorable for crop development, they have also slowed wheat harvest progress. We have not yet received any new-crop wheat at Kenton, but we anticipate seeing deliveries begin next week as hot, sunny weather helps fields dry out.
On the global front, geopolitical tensions in the Middle East continue to influence commodity markets. Earlier this week, Iran and the United States indicated a willingness to work toward a peace agreement during a proposed 60-day ceasefire. However, renewed tensions later in the week have created uncertainty, and markets will continue to monitor developments closely for any potential impact.
Looking ahead, the USDA will release the 2026 Acreage Report and Quarterly Grain Stocks Report on Tuesday. Current trade expectations lean toward bearish acreage and grain stocks figures, which could add pressure to the markets if the reports come in as expected. As always, any surprises in the data could lead to increased market volatility.
Zane Robison
Grain Merchandiser, Urbana (Region 3)
Yet another slow week for grain markets as wheat harvest has begun locally, and we brace ourselves for the coming heat wave.
Markets were quiet for most of the week until Thursday, when we saw a nice bounce of about 8¢ in corn and nearly 20¢ in soybeans. Where did the sudden strength come from? I think it was a combination of a few things. First, weather concerns have started to creep back into the market, with the so-called “Dome of Doom” (yes, it’s a real term) expected to push temperatures well above 100°F across much of the Corn Belt. Headlines that Iran had attacked a cargo vessel also gave crude oil a brief lift, although those gains have since faded.
While everyone was searching for a headline to explain the rally, we may be overlooking the fact that someone stepped in to defend the $4.00 level in July corn futures. Whether it was a large commercial buyer or managed money, there appears to have been a willingness to own corn at that price, which likely helped stabilize the market. Tuesday’s USDA Quarterly Grain Stocks and Planted Acreage reports should give us a much better idea of the size of this fall’s crop. No major surprises are expected, but these reports have a history of moving markets if the USDA makes any unexpected adjustments.
Have a great weekend!
Lisa Warne
Grain Merchandiser, Marysville (Region 4)
Here we are at the end of June, and wheat is beginning to roll across the scales. Here at Marysville, we’ve had a couple of good days under our belt to ramp up for the expected large days next week. So far, we’re seeing an average moisture of around 16%, but we anticipate that next week’s heat will accelerate maturity. The quality has been good so far, with no vomitoxin issues in what we’ve seen. If you’re not signed up for our location hours text messages, ask your local branch to add you to our distribution lists so you can receive information about extended hours.
As for the markets this week, we saw a key reversal yesterday, giving grains a little recovery boost. Cash corn and beans are basically back to where they closed last week. November beans closed back above the 100-day moving average, resulting in an over-a-dime increase for the week. The shifts in macro markets were probably the biggest influence yesterday, with the US Dollar Index taking a step back after surging higher earlier in the week.
Looking ahead, next week we have the USDA Acreage and Stocks reports out on Tuesday. That critical report, generally expected to be bearish, combined with hot temperatures in the forecast, could create a volatile market next week. These reports and growing conditions will play a vital role in shaping the market's direction over the next couple of months.
Morgan Hefner
Grain Merchandiser, Nashport (Region 5)
Negotiations between the U.S. and Iran continued throughout the week, with reports indicating that oil continues to flow through the Strait of Hormuz. While this is important and continues to be watched, it did not seem to specifically drive the grain markets this week.
Monday’s crop progress report showed the U.S. corn crop holding steady at 68% good-to-excellent. In Ohio, however, corn good/excellent ratings were at 57%, down from 64% the previous week. Soybeans told a slightly different story, with Ohio improving from 49% to 55% good-to-excellent. Nationally, soybean ratings remained unchanged at 66% g/ex.
Looking ahead, next Tuesday, the acreage report will be released, giving us a better idea of what has been planted. The weather is now becoming more of a driving factor as we enter the heat of summer. Now that the crop is planted and growing, it’s also a good time to evaluate your marketing plan. If you have been waiting to make additional sales post-planting, now is a great time to reward the rallies and limit some of your risk.
As we move into the wheat harvest, feel free to reach out if you would like to be added to a text list with our extended hours. Our website and app will also be updated daily with this information.