A mixed-grain trade developed overnight despite a sharply higher crude oil market.
June 8, 2026
Grain Overview
The grain trade opened higher Sunday night as crude oil was sharply higher, as the Strait of Hormuz remains closed, and the Iranian conflict was intensifying over the weekend with more missile strikes from Iran. The selling vigilantes immediately showed up and trimmed the gains, eventually pushing corn and soybeans to new lows in the current decline after it was announced at 6:00 a.m. CST that a cease-fire was underway among Iran, Israel, and the US. The White House continues to claim the war is over and that operations are nearly complete, but these developments cast more doubt on those statements.
The wheat complex is trading mixed-higher in late overnight action, while corn and soybeans continue to struggle. Wheat is finding support amid a growing list of disappointing crop reports worldwide as adverse weather chips away at production prospects.
