06/12/2026 Bearish Trends Persist as Bullish Surprises Lacking

06/12/2026 Click Above to Watch the Morning Market Talk Video Bearish Trends Persist as Bullish Surprises Lacking On the Grains Grain and soy futures traded lower overnight, with the exception of soymeal. Corn fell to contract lows, while soybeans and wheat held in their recent pause ranges. Soyoil futures are leaning on support at the bottom of the six-week sideways trading range. USDA’s reports on Thursday failed to provide any bullish surprises. That has traders refocused on weather and geopolitical events – both of which are trending bearish. Traders deem weather to be mostly favorable for crop development, while the U.S. and Iran are reportedly close to signing an agreement to reopen the Strait of Hormuz – potentially as soon as Sunday. We’ll see… markets have been fooled by similar reports before. Headlines on the latter ahead of the weekend could spur some heightened volatility late in today’s session. Ho-Hum… Onto June 30 USDA Reports As expected, USDA made minimal to no changes to the U.S. balance sheets for 2025-26 and 2026-27. Highlights: Corn: Old-crop ending stocks increased 3 million bu. to 2.145 billion bushels. USDA raised exports 25 million bu. and offset that with a 25-million-bu. cut to corn-for-ethanol use….