The grains are fighting between war or weather on pricing.

July 29, 2026

Grain Overview

Grain futures initially turned higher on the evening opening, as crude oil pushed higher after Iran launched missiles at US assets, which oil intercepted. The point is,any talks going on in the background are essentially fruitless babble. Yet overnight weakness in row crops gave way as the weather modeling continues a good chance some of the dry areas of the Western Corn Belt will get a good drink on Friday. Wheat, though volatile overnight, maintains a firm tone, as the Black Sea region is seeing minimal movement of the upcoming Black Sea wheat harvest.

Crop concerns remain elevated as corn and soybean condition ratings continue to trail last year’s levels. While weekly ratings do not directly determine final yields, they do suggest the crop has less potential to achieve exceptional production. The market’s focus is shifting from whether the crop is large to whether it will be large enough to avoid further demand rationing through higher prices. This weekend’s rain event for the Western Corn Belt has to perform, as warm temperatures next week will bring renewed buying after this end-of-month liquidation departs.