07/01/26 Good Riddance June; Hopefully July Is Better

07/01/2026 Click Above to Watch the Morning Market Talk Video Good Riddance June; Hopefully July Is Better On the Grains Corn and wheat markets showed mild follow through buying to Tuesday’s corrective gains during the overnight session, while soybeans pivoted around unchanged. Bulls welcomed the flip of the calendar to July after a rough June that saw funds aggressively sell grain and soy futures. While there’s nothing magical about the flipping of the calendar, the start of a new month and new quarter could turn out to be a needed reset for the grain and soy markets. With that said, wheat still faces seasonal pressure, while it’s likely going to take a weather threat to trigger sustained buying in the corn market. Until August, when weather will become a dominant factor for soybean prices, focus will be on any potential Chinese purchases of U.S. soybeans. Takeaways From USDA’s June 30 Reports Unusually, wheat markets had the strongest price reaction to the reports, as both acreage and June 1 stocks were supportive compared to pre-report expectations. Given the aggressive fund selling into the reports and the data, there should have been a bullish response. Key will be whether wheat can sustain…