Morning Markets: Corn: -0.75 old & -1.25 new.
Beans: -6.25 old & -3.25 new. Wheat: -3.
PLEASE JOIN US FOR OUR 2026 FOCUS MEETINGS!!
Tuesday, March 3rd at the Knights of Columbus in Lincoln with breakfast at 8:00am and meeting to follow.
Tuesday, March 3rd at the Monticello Community Building in Monticello with lunch at 12:00pm and meeting to follow.
Topflight Grain is offering Free PL on soybeans to all full-time locations except Maroa based on space availability good through August 31, 2026.
We are also offering Free PL on corn delivered to Pierson and Milmine based on space availability good through August 31, 2026.
MARKET SUMMARY:
Good morning. Following late-week pressure to end the week last week, ag markets in Chicago are trading similarly again this morning as follow-through selling has remained present so far to get Monday started. For the most part, the beans and the meal have been the downside leaders on ideas that China is less likely to make new US purchases today than they were this time a week ago, and also on thoughts that what purchases they have made are now less likely to be shipped. Corn futures to get Monday rolling are trading 1-2 cents lower, soybean futures are trading 6-10 cents lower and are near their lows, and the Chicago wheat market is trading 4-6 cents lower.
Crude Oil is up $0.41 at $66.89
US Dollar is down at $97.605
Dow futures are down 199 points at 49,475
WEATHER:
- Midwest weather looks to be on the quieter side for a few days to start the week this week, with models in good agreement on not a lot in the way of precip for the area the first half of the week, before a storm system looks to form and work across the central part of the region Wednesday night into Thursday. Like last week, the best rainfall chances appear to favor the southeast, where 1-2" is likely across a fairly large area, but areas north of the Ohio River generally don't expect to see more than a stray tenth or two and it likely comes in the form of light snowfall.
- Argentina looks to see just light/spotty rainfall through most of the country's growing regions through the week this week, while Brazil looks to see moisture pick back up through the heart of the country following a few drier days last week. Overall, there isn't much of anything of note for the Argy forecast the next few days, while additional rains through Brazil could lead to more harvest delays in the short term but will be longer term positive to soil moisture for the second corn crop there. Still no late-season heat concerns in the models this morning, which is also crop-positive.
OTHER HEADLINES:
- Friday afternoon's Commitment of Traders report, with data for the week ending February 17th, showed managed money traders in the week were buyers of another 20,795 contracts of corn (-27,415), buyers of 40,462 contracts of soybeans (+163,611), and buyers of 17,619 contracts of Chicago wheat (-68,037). In the soy products, funds were buyers of 12,562 contracts of meal (-1,762) and buyers of 8,725 contracts of soybean oil (+41,819).
- Also out Friday was the USDA's monthly cattle on feed update for February, which showed the US feedlot herd as of February 1 at 11.505 million head, which was near expectations and down 2% from a year ago. Placements during January totaled 1.736 mil head or 95% of a year ago, and marketings in the month totaled 1.626 mil head, or 87% of a year ago.
- Sources familiar with the matter reported over the weekend that Indian trade officials have postponed a planned trip to Washington this week which had been aimed at finalizing an interim trade agreement between the two sides amid new developments regarding President Trump's tariffs and their legality. The announcement comes amid similar headlines out of the EU and other negotiating countries, who seem to be taking a wait-and-see approach to further negotiations with Trump and the US.
- The Buenos Aires Grain Exchange made no production updates to either of Argentina's corn or soybean crops in its weekly update last week, leaving both figures unchanged at 57 MMTs and 48.5 MMTs respectively. However, the group did show the amount of the soybean crop rated in the poor category at just 25%, which is down 7% on the week prior, while the amount of the crop with adequate moisture conditions jumped 10% on the week to 66%. Corn crop conditions were mostly unchanged on the week, but here too moisture conditions jumped 19% in the adequate category following recent rains.
- According to Egypt's Chamber of Commerce, private purchaser imports of soybeans in 2025 reached a record 5 MMTs as the country's poultry sector and soybean crush industry both continue to expand. Officials say 2026 imports could likely surpass this level, estimating a total between 5.6-6.0 MMTs for the current calendar year.
EXPORT NEWS:
- Private exporters reported sales of 125,000 metric tons of corn for delivery to Colombia during the 2025/2026 marketing year.
Be careful!
Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
