GCC Weekly Market Commentary > 2026 > June 2026 > Weekly Market Update 6-4-2026

Weekly Market Update 6/4/2026

Jun 04, 2026

Here is your weekly market update from the Garden City Co-op Grain Origination Team.

Trivia

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Market News

GCC ELEVATOR HOURS RESOURCE: You asked, and we listened! Introducing a smarter and more convenient way to stay connected to your co-op – right at your fingertips. The GCC Grain Team is excited to offer customers a new digital resource this harvest season, making it easier than ever to access essential elevator information whenever you need it. From up-to-date hours of operation and direct contact details to location-specific moisture limits, everything you need is now available in one, easy-to-use place. Whether you’re planning your next delivery or checking details on the go, you can quickly find accurate information in real-time online or through the GCC StoneX app – saving you time and keeping your day moving. By navigating to www.gccoop.com /products-services/grain, you will now find a pillar option for “Elevator Hours” where you can select your specific location for more information.

Designed with our customers in mind, this new tool puts transparency and efficiency first. No more guesswork – just fast, reliable access to the details that matter most to your operation. As we continue to invest in services designed with your success in mind, this resource is another step towards elevating your experience with us here at Garden City Co-op. Log on today, explore the features, and discover how easy it is to stay informed! Please reach out to your local GCC Grain Team member with any questions or if you need help locating the webpage.

MARKETS: The spot July CBOT corn contract continued a two-plus-week decline, reaching a new contract low overnight amid strong grain trade volume; a warm and wet pattern will dominate through the middle of this month, helping get the 2026 U.S. crop off to a strong start. Old-crop stocks remain plentiful. Fundamentally, total weekly fuel ethanol production rebounded to 1.108 million barrels per day on the week ending May 29, up from 1.089 mln bpd the week prior and 1.105 mln bpd on the same week last season. Last summer’s output peaked on the next comparable week at 1.120 mln bpd. Cumulative output is back over the 1.090 mln bpd mark, needing to add another 5k or so by the end of August to meet the USDA’s current 5.6-billion-bushel corn use for ethanol estimate. Wheat prices across the complex have been under downward pressure recently due to spec funds exiting long positions and divorcing somewhat from crude oil movements, seeking relief from the severe drought gripping the western and southern plains. Soybean futures have dropped to three-month lows, currently at approximately $11.29 per bushel. This decline is due to favorable growing conditions in the U.S., strong planting progress, and weak export demand. Additionally, the market is affected by substantial supplies from South America and the anticipation of the upcoming USDA supply and demand report next Thursday.

NEW WORLD SCREW WORM CONFIRMED IN TX: The first confirmed case of New World Screwworm (NWS) was found in a calf in south Texas. So far, it is the only one in the United States, and the first in Texas since 1966. All animal movement within a 12-mile radius has been stopped and sterile screwworm flies have been released. Fortunately, there is extremely low risk of NWS infesting humans while also posing no threat to food safety. However, spread of the parasite could lead to large economic losses to already record-low cattle numbers. Dudley Hoskins, USDA under-secretary noted that, “Protecting our livestock industry is a national security issue of the utmost importance.” It will be interesting to see how well the contingency plan works as it seems like it was a matter of time before the U.S. was affected.

EXPORT SALES AND INSPECTIONS: Corn export sales totaled 34.8 million bushels this week – 17.3 million bushels below the running 10-week average and exceeding current trade estimates. New crop corn sales were reported at 9.6 million bushels sold. Current week corn export inspections totaled 68.0 million bushels, up 4.8 million bushels from the week prior. Old crop soybean sales were reported at 10.2 million bushels, with 8.9 million bushels of N/C soybean sales reported. Soybean export inspections for the week were reported at 18.2 million bushels – falling below the running 10-week average but in-line with current trade estimates. All wheat export sales totaled 30.8 million bushels this week, as we gear up for 2026 wheat harvest. Current week wheat export inspections totaled 14.8 million bushels – falling in-line with current trade estimates. A total of 2.5 million bushels of milo export sales were reported this week and export inspections totaled 7.1 million bushels.

CROP PROGRESS: Kansas winter wheat conditions remain unchanged from the prior week at 15% good to excellent. Nothing cut here in Kansas yet, but Oklahoma and Texas are rated at 23% harvested, so it will be here before we know it. Fall crop conditions are a little brighter picture as corn is at 64% good to excellent and soybeans at 61% good to excellent across the state. Corn planting rolls on at 85% planted with 67% emerged, up nearly 10% for both since last week. Soybean planting and emergence is also up significantly with 75% planted and 57% emerged. Milo planting is slowly getting into full swing at 26% planted across the state, up from 17% from the prior week.

WEATHER: A drier pattern looks to be in store for the next week after some significant rains fell over most of the area. Sunshine has returned today with a high near 87°F. Friday closes out the work week with highs in the low 90s and SSW winds 11-15mph, continuing through the night. More summer weather sticks around through the weekend with highs near 90°F Saturday and Sunday. Next week will continue to be HOT with a high of 95°F Monday, and a couple days in the triple digits after that.