07/02/26 Key Timeframe for Grain Markets

07/02/2026 Click Above to Watch the Morning Market Talk Video Key Timeframe for Grain Markets On the Grains Corn, soybeans and wheat mildly built on gains from the two previous days during overnight trade. Corn and wheat are poised for gains during the holiday-shortened week, while soybeans are trading slightly below last Friday’s closing level early this morning. With USDA’s June 30 reports producing no major bearish surprises, funds have covered short positions in corn and wheat, while adding to their net long stance in the soybean market. Focus has shifted to weather and demand. Today’s session will feature positioning ahead of the three-day holiday weekend that has a history of setting the summer price tone. Seasonally, December corn futures typically bottom from mid-August through the end of September, while the lows tend to come in the July/August timeframe for November soybeans. December wheat typically puts in a seasonal low in June/July. Of course, these are generalities, with each year presenting a different set of circumstances that determine when lows are forged. While today’s price action could be telling, trade early next week coming out of the July 4th weekend is far more important, as that should give a better read…