07/05/2026 Sunday Market Preview

Grains were called steady to slightly higher for a new trading week that may be slow to develop following the holiday and a relatively quiet geopolitical front to this point of Sunday morning. In the Headlines The short holiday week finished mixed among the grains with December corn futures exactly unchanged while November soybeans dropped 8 1/2 cents and September Chicago gained 10. New lows were established on first notice day for the July contracts and then the Tuesday crop report helped turn the market around. The reports featured a bullish miss on wheat acreage by more than a million acres, with plantings down to an almost 150-year low. Corn stocks were below the low end of pre-report expectations to offset a marginally higher acres estimate over the March survey. It was a neutral pair of stocks and acreage estimates for soybeans with both of the headline numbers coming in very close to the average guesses. Iranian leaders gathered to hold a funeral for the killed Ayatollah Ali Khamenei and rallied against the U.S. and Israel. Negotiations to end the war were paused for the weekend, but hostilities were limited through Sunday morning and the U.S. Navy was coordinating passage…