A new month brings a new attitude. Grains found follow-through strength overnight

July 1, 2026

Grain Overview

Oh, the smell of a new calendar month in the morning, a three-day weekend on the way, and index funds jammed on their positions. The thing like the “last day of the month, first day of the month” trend flop. Now, if it will only stick.

Yesterday, we learned that the USDA has finally acknowledged that it takes a lot of groceries (corn) to get that last 100 pounds of overfed beef that we’ve been producing for over a year in the feedlots to get more beef. This officially lowers new crop carryout by 100 Mil Bu, putting it in that 1.8 Bil Bu category.

Into the future, corn could possibly see further reductions in acreage due to preventive plant that the USDA will take months to follow up on. There to lower harvest acreage. And now, looking further into the future, we will likely see demand from Europe for US corn grow considerably. It is very likely we’ll see 1-2 MMTs of growth in corn exports to the EU, which will change the story for quarter 1 and quarter 2 exports in 2027. Portugal and Spain have shown over the past 6 months that they like our corn, and we will likely see more others do so as well.