Grains catch a bid overnight after multiple days of liquidation.

June 3, 2026

Grain Overview

Grain futures appeared to complete their latest round of liquidation Tuesday evening, opening lower despite strength in crude oil. Energy markets continued to firm overnight and into the early morning hours following reports that Iran had launched attacks against neighboring countries. The renewed geopolitical tension helped support commodity markets and provided a stronger tone to the grain complex ahead of the opening.

Soybeans are drawing support from both the rebound in energy markets and continued strength in the cash market. Crush margins remain near record highs, encouraging strong processor demand. Year-to-date soybean crush is running 8% above last year’s pace and 1% ahead of expectations. While that may not seem like a significant divergence, additional demand is supportive, given the relatively tight soybean stocks. Soybean oil is pressing near 80.00 this morning, which would be new contract highs.