The wheat trade catches a bid overnight while row crops soften ahead of Tuesday’s big report.

June 29, 2026

Grain Overview

After a steady start to the grain trade Sunday night, row crops are all lower, while wheat turned mixed. The hard wheat pricing is firmer as French milling wheat gains $1.50/MT to $ 204.25, while Euronext Nov corn prices push new 52-week highs, gaining $5.00/MT and trading at $226/MT. That’s a gain of $24 in two weeks and one day. (Over $0.70 a bushel gain). Euronext corn is non-GMO, so for now, we need to wait for those corn buyers to say uncle and lower their standards. Brutal heat in Europe continues for 10 days, affecting corn pollination. European wheat is heading towards harvest, so the trade is less excited about production losses until they can be quantified off the combine.

Attention remains centered on the Middle East after reports that the United States and Iran have agreed to suspend further military strikes and hold talks in Qatar later this week. The discussions are expected to focus primarily on the Strait of Hormuz and the implementation of the proposed memorandum of understanding. Crude oil this morning is hovering near 70.00 a barrel, up almost $1 from last Friday’s settlement.