6/26/26 Weekly Market Recap

Today was option expiration for all July grain options, which created a choppier trading range than normal. 

Corn: July corn fell early in the week but rebounded towards the end to make up for earlier week losses. It closed at $4.12 ¾ . December new-crop closed at $4.40. The market remained near recent lows. 

Soybeans: July beans also fell earlier in the week before rebounding and making up for the loss. It closed at $11.24. There are some rumors about China buying more new crop beans. The November contract closed at $11.55.

Wheat: Chicago July closed at $5.89 ¾ , after falling throughout the week on comfortable supplies. KC July closed at $6.11. The respective September contracts closed at $588 ¾ and $6.19 ½ .

Cotton: July cotton closed at $71.66  with volatility tied to macro factors like weaker crude oil moves, and a stronger dollar. The market saw corrective bounces but faced pressure overall. 

Crude Oil : Significant volatility and downward pressure amid eased geopolitical tensions, demand concerns, and inventory dynamics. The July contract closed at $66.85.

Live Cattle: August futures bounced around, closing at $245.825, supported by continued high cash trade, strong boxed beef, and solid export sales. No big news on the Screwworm front.

Feeder Cattle: Strong performance with August closing at $369.85, driven by strong cash demand and tighter placements. 

S&P 500 Futures: Sold off throughout the week amid geopolitical optimism, tech moves, and macro data with volatility remaining contained. Looking for new capital inflows after the end of the quarter next week. It closed at 7397.75.