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Corn, soybeans and wheat each traded higher early in the overnight session, supported by strength in the overall commodity marketplace as Israel launched a widespread attack against Iran.

Israel strikes Iran, triggering oil supply concerns and surge in crude oil futures.

Cash grain prices remain mostly well under last year’s levels.

Markets remain focused on trade and policy events.

USDA made minor adjustments to their crop balance sheets today.

Corn eked out a modest gain today.

Cattle and hogs both saw consolidation following recent contract highs.

USDA kept its winter wheat crop estimate unchanged and made only modest balance sheet changes aside from cotton.

Minimal changes were made to wheat production. However, old- and new-crop corn and cotton ending stocks were trimmed from May.

June 12, 2025