Tuesday, May 26, 2026
Closing Markets: Corn: -5.75 old & -4.50 new.
Beans: -10.50 old & -7.50 new. Wheat: -10.75 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.

Good evening!


Market Recap-
With the exception of bean oil, ag futures closed lower to get the holiday-shortened week started on Tuesday, in what was another round of abysmal volume amid there continuing to be few who have any interest in taking on new positions without some sort of agreement to reopen the Strait of Hormuz. Media attention surrounding dry weather forecasts for the Corn Belt into the middle of June began to get some traction throughout the morning hours, but it's the Middle East and geopolitics that seem to still be in control overall.


Corn Summary-
The slow market action seen going into the long holiday weekend was also seen coming out of it, with corn futures drifting lower throughout the day on Tuesday on light volume and limited new news. From a technical standpoint, that spot futures tested and held the 200-day moving average again today was notable, but we are concerned that if downward momentum continues and pushes the market below here, it will likely open the door for additional downside pressure. That said, the opposite side of the fence sees weather risks via warm/dry forecasts that should support a turnaround on the charts should it occur. It's a new week, but it seems trading themes are generally unchanged today for the corn market.

Soybean Summary-
Soybeans traded lower to start the new week on Tuesday while the products were mixed, as like the corn, volume and new news were both rather limited as the end of the month approaches and with fund traders still heavily long the complex as a whole. We don't have a lot of good reason for the strength in the bean oil market aside from possibly spread activity with meal and the idea that world veg oil demand is going to continue expanding, but the move at least good on the charts from the standpoint that futures made new multi-week lows first this morning before reversing and closing the day higher. To the beans themselves, weather today is favorable (despite questionable forecasts) and there have still been no signs of new Chinese purchases, which together, likely led to the selling seen on Tuesday.

Wheat Summary-
Chicago wheat futures closed lower for a fourth straight day on Tuesday, as downward chart momentum and rumored progress in the Middle East led to a further reduction in premium throughout the course of the day. We'll see what the USDA has to say this afternoon regarding crop conditions in the US, but a 1% move in either direction doesn't materially alter the fact that there is supply loss that will add importance to the US spring crop. Keep in mind though, the situation with Iran right now is a market mover because of it's impact on input prices and their availability for growers in the southern hemisphere who are getting ready to plant another crop, not those in the north who are making harvest plans. Price impacts on fertilizers are likely to have long tails, and this is probably the main reason for the strength in the deferred month wheat contracts.

Outside News Headlines-
Crude oil futures down $2.50+/bbl.

Weather Updates-
Following what has been a fairly active spring/early summer weather season, the pattern seems to be drying out a bit across the Midwest as models the last several days have expanded the central US high pressure ridge that was discussed going into the weekend last week to now stretch further south. Five day rainfall anomaly maps this afternoon have almost no precip for the northern half of the Midwest, while the Gulf is expected to continue seeing regular moisture the rest of the week.
On the temperature side, the high pressure will keep most of the Midwest warm this week (and in some cases extremely warm), while cloud cover/rain to the south keeps temperatures in these regions more average to slightly below average.
Extended forecasts over the long weekend expanded the above mentioned high pressure further to the south into June, which is keeping rainfall maps generally void of moisture throughout much of the eastern US. How long this pattern lingers looks to be the big question, but today, it appears the ridge has at least some sort of staying power.


Enjoy it!


Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
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