All Prices as of 2:00 pm Central Time

Corn
JUL ’25	437	-1.75
DEC ’25	439.75	-0.25
DEC ’26	469.5	-1

Soybeans
JUL ’25	1050.5	-7.25
NOV ’25	1029.25	-2
NOV ’26	1053	-3

Chicago Wheat
JUL ’25	534.25	-0.25
SEP ’25	549	0.25
JUL ’26	608	1.25

K.C. Wheat
JUL ’25	526.25	-1
SEP ’25	540.25	0.25
JUL ’26	598.75	0.25

Mpls Wheat
JUL ’25	617.25	4
SEP ’25	627.25	3.5
SEP ’26	671.75	1.75

S&P 500
SEP ’25	6078	-20.75

Crude Oil
AUG ’25	66.63	2.72

Gold
AUG ’25	3361.2	17.8

Grain Market Highlights

🌽 Corn: Corn futures faded from early gains to close lower, as the market lacked fresh bullish catalysts despite record ethanol production and easing U.S.-China trade tensions; attention now turns to Thursday’s WASDE and export data for potential demand-driven support.
🌱 Soybeans: Soybean futures slipped after early strength, weighed down by a bearish weather outlook and rising global stock projections, while U.S.-China trade talks offered cautious optimism despite no direct ag commitments.
🌾 Wheat: Wheat futures ended mostly higher, boosted by a weaker U.S. dollar and concerns over wet U.S. harvest conditions and Russian drought, while traders await Thursday’s WASDE for updated stock and production estimates.
To see the updated U.S. weather outlook maps, scroll down to the other charts/weather section.

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Corn

Action Plan: Corn

Calls

Cash

Sell DEC ’26 Cash

Puts

2024 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Eight sales recommendations made to date, with an average price of 494.
- Changes:
  - None.
  - Rally Watch: With five sales recommendations since December 30 at an average price of around 492, there’s a solid cushion in place to continue aiming for a weather rally for next sales recommendations.

2025 Crop:

Plan A:
- Exit all 510 December calls @ 43-5/8 cents.
- Exit half of the December 420 puts @ 43-3/4 cents.
- Exit one-quarter of the December 420 puts if December closes at 411 or lower.
- Roll-down 510 & 550 December calls if December drops to 399.
Plan B: No active targets.
Details:
- Sales Recs: Seven sales recommendations have been made to date, with an average price of 461.25.
- Changes:
  - None.
  - Volatility-Ready: Positioned well for potential market swings, with a solid base of sales and open call and put option positions in place. Active targets remain set to begin legging out of options and roll down call options to lower strikes as conditions warrant.

2026 Crop:

CONTINUED OPPORTUNITY – Sell a fourth portion of your 2026 corn. The December ‘26 contract has reached the upside target of 474.
Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Now four sales recommendations have been made to date, with an average price of 462.
- Changes:
  - None.

To date, Grain Market Insider has issued the following corn recommendations:

Market Notes: Corn

Disappointing close in the corn market as prices failed to hold early session strength and finished lower on the day. The July contract led the push lower as the old crop market is looking for news to push the market higher.
Early session gains were fueled by optimism of an easing of the U.S.-China trade tension as negotiations in London reach some agreements. While it is still not a major trade agreement, it is still a stepping stone to further talks between the two countries.
The USDA will release the June WASDE report on Thursday. Analysts are expecting little change in the new crop forecasts from May, but the focus will be on demand projections for the old crop. Expectations are for adjustments higher in export demand, which could lower corn carryout for 2024-25 below 1.400 billion bushels.
Weekly ethanol production last week reached a record high of 1,120K barrels per day in the week ending June 6. An estimated total of 108.6 mb was used in ethanol production last week. This total was on pace to reach the USDA target for corn usage for the marketing year. Ethanol stocks slipped to 23.7 million barrels, down from 24.4 million barrels from last week.
The USDA will release weekly export sales on Thursday morning. Corn export demand has been strong as sales are nearly reaching the USDA market-year target. Shipments may be the key number going forward as U.S. bushels are not competing against South American bushels on the export market.

Corn Futures Settle Into a Tight, Five-Day Range
The front-month July contract has settled into a tight five-day trading range, largely between 433 and 445. A close below 433 would open the door to downside risk toward 408, while a close above 445 would point to an upside opportunity near 465.

Above: From USDA – Historical month-to-month changes in the projected U.S. corn yield per crop year. Ahead of tomorrow’s USDA June WASDE report, this table illustrates how uncommon it is for the USDA to change the projected national average corn yield on the June WASDE report.

Soybeans

Action Plan: Soybeans

Calls

Cash

Sell NOV ’25 Cash

Puts

Enter(Buy) JAN ’26 Puts:

1040 @ ~ 49c

2024 Crop:

Plan A: Next cash sale at 1107 vs July.
Plan B: No active targets.
Details:
- Sales Recs: Three sales recommendations made to date, with an average price of 1089.
- Changes:
- No Changes (for Now): Despite last week’s break of 1036.50 support, the 1107 target remains active to recommend making the next sale.

2025 Crop:

CONTINUED OPPORTUNITIES –
- Buy January ‘26 1040 put options for approximately 49 cents in premium, plus fees and commission. This is a recommendation to purchase a second round of 1040 puts, following the first round advised on May 6.
- Sell another portion of your 2025 soybean crop.
Plan A:
- No active sales targets.
- Exit one-third of 1100 call options at 1085 vs November.
- Exit remaining two-thirds of 1100 November call options at 88 cents.
Plan B:
- No active targets.
Details:
- Sales Recs: Now two sales recommendations made to date, with an average price of 1040.25.
- Changes:
  - None.

2026 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Zero sales recommendations made so far to date.
- Changes:
  - None.
  - We’re now in the seasonal window where first sales targets for next year’s crop could post at any time. Stay tuned.

To date, Grain Market Insider has issued the following soybean recommendations:

Market Notes: Soybeans

Soybeans couldn’t keep up the momentum from early morning gains, closing lower on the day as a bearish weather outlook leads to choppy price action. July futures have been relatively flat with prices floating in a 13-cent range between $10.50 and $10.63 so far this week.
Tomorrow’s WASDE report is expected to show 2025/26 world ending stocks at 124.5 mmt, which would be higher than May’s 124.3 mmt number. Estimates for U.S. 2024/25 carryout are at 351 mb, while 2025/26 estimates are at 298 mb.
Anec sees Brazil’s soybean exports for the month of June reaching 14.08 mmt, up from last week’s estimate of 12.55 mmt.
Trade talks between the U.S. and China were reportedly successful with the two sides agreeing to a framework deal which would include magnets and rare earth minerals. There was no mention of U.S. agricultural goods, but now that the two sides seem to be on better terms, a deal could come into play at some point.

Soybean Futures Stall – Resistance Remains
Last Monday, the July contract closed 8 cents lower, breaking 1036.50 support and posting its lowest close since April 10. Over the next four trading days, July rallied, gaining about 24 cents and finishing the week up 16 cents net. The four-day winning streak pushed July back above all major moving averages, but to break out of the broader sideways trading range that’s held since last summer, the contract still needs to clear the May high of 1082.

Above: From USDA – Historical month-to-month changes in the projected U.S. soybean yield per crop year. Ahead of tomorrow’s USDA June WASDE report, this table illustrates how uncommon it is for the USDA to change the projected national average soybean yield on the June WASDE report.

Wheat

Market Notes: Wheat

Wheat closed mostly higher, led by Minneapolis futures. Support came from a drop in the U.S. Dollar Index, which itself was tied to today’s CPI report that showed consumer prices increased 0.1% in May compared to expectations of a 0.2% increase.
Tomorrow will feature the monthly WASDE report. The average pre-report estimate of old crop wheat stocks at 844 mb, compared to 841 mb last month. New crop is estimated at 919 mb versus 923 mb last month, with production pegged at 1.925 bb.
While U.S. weather remains mostly favorable, the southern Midwest and southeast Plains are still too wet. Continued rains will delay winter wheat harvest activity and could also affect quality and production.
According to the European Commission, EU soft wheat exports are down 33% year over year at 19.5 mmt as of June 8. This compares with 29.2 mmt shipped through the same time last year.
The Rostov area of Russia, which is their biggest grain production region, has declared a state of emergency due to drought. Spring frosts were also an issue, though less damaging than they were a year ago. This region is set to begin harvest the second part of June.

Action Plan: Chicago Wheat

Calls

Cash

Puts

2024 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Four sales recommendations made to date, with an average price of 690.
- Changes:
  - None.
  - This week will likely be the final week that Grain Market Insider provides guidance on the 2024 crop before fully shifting focus to the 2025 and 2026 crops.

2025 Crop:

Plan A: No active targets.
Plan B:
- Buy call options if July closes over 633.50 macro resistance.
Details:
- Sales Recs: Five sales recommendations made to date, with an average price of 646.
- Changes:
  - The 693.75 target has been cancelled.

2026 Crop:

Plan A:
- Target 675 vs July ‘26 for the next sale.
Plan B: No active targets.
Details:
- Sales Recs: One sales recommendation made to date, at 624.
- Changes:
  - None. Continue to target 675 to make a second sale.

To date, Grain Market Insider has issued the following Chicago Wheat recommendations:

Chicago Wheat Hits Resistance
The July contract faced a sharp rejection after testing the 200-day moving average at 557.75. A close above that level could open the door for a broader rally toward the April high of 621.75. However, until that resistance is cleared, the risk remains for sideways-to-lower trade, with 506.25 as the recent downside reference point.

Above: From USDA – Historical month-to-month changes in the projected U.S. wheat yield per crop year. Ahead of tomorrow’s USDA June WASDE report, this table illustrates that the USDA has made an adjustment to the projected national average wheat yield on every June WASDE report going back to the 1993 crop year. The USDA has raised the yield projection on the last 10 consecutive June WASDE reports.

Action Plan: KC Wheat

Calls

Cash

Puts

2024 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Three sales recommendations made to date, with an average price of 677.
- Changes:
  - None.
  - This week will likely be the final week that Grain Market Insider provides guidance on the 2024 crop before fully shifting focus to the 2025 and 2026 crops.

2025 Crop:

Plan A: No active targets.
Plan B:
- Buy call options if July closes over 653 macro resistance.
Details:
- Sales Recs: Four sales recommendations made to date, with an average price of 639.
- Changes:
  - None.

2026 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Zero sales recommendations made so far to date.
- Changes:
  - None.
  - The first sales targets could post this week — keep checking back for updates.

To date, Grain Market Insider has issued the following KC recommendations:

Kansas City Wheat Finds Resistance At 550
First resistance stands at last week’s high of 550.50. A breakout above that level would shift focus to the 100-day and 200-day moving averages in the 565–567 range. Clearing that secondary resistance could open the door to broader upside potential, with targets in the 600–620 zone — near the early spring highs. On the downside, the May low of 500.25 remains a key support level. Failure to break out above resistance would keep the trend sideways to lower, with that low as the next risk.

Action Plan: Mpls Wheat

Calls

Cash

Puts

2024 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Sales Recs: Now six sales recommendations made to date, with an average price of 684.
- Changes:
  - None.
  - This week will likely be the final week that Grain Market Insider provides guidance on the 2024 crop before fully shifting focus to the 2025 and 2026 crops.

2025 Crop:

Plan A: No active targets.
Plan B:
- Buy KC call options if July KC closes over 653 macro resistance.
Details:
- Sales Recs: Five sales recommendations made to date, with an average price of 646.
- Changes:
  - None.

2026 Crop:

Plan A: No active targets.
Plan B: No active targets.
Details:
- Changes:
  - None.
  - First sales targets are expected to post after July 1.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Spring Wheat Leading the Complex
July spring wheat futures have outperformed both Chicago and KC wheat since all three markets bottomed in mid-May. It is the only July wheat contract currently trading above all three major moving averages — the 50-, 100-, and 200-day — which have now converged in the 605–610 range, establishing a key support zone. A close below 605 would expose the market to downside risk toward 580. However, as long as 605 holds, the broader upside potential remains intact, with room to rally toward the 660 level.

Other Charts / Weather

Above: US 5-day precipitation forecast courtesy of NOAA, Weather Prediction Center.

Above: US 7-day precipitation forecast courtesy of NOAA, Weather Prediction Center.

Above: US 3-day maximum heat index forecast courtesy of NOAA, Weather Prediction Center.

Above: US 7-day maximum heat index forecast courtesy of NOAA, Weather Prediction Center.