Morning Markets: Corn: +2 old & +1.25 new.
Beans: +0.50 old & +3.50 new. Wheat: +2.50 old & +2.25 new.
All Topflight locations will be closed Friday, April 3rd in observance of Good Friday!
Topflight Grain is offering Free DP on soybeans to all full-time locations except Maroa based on space availability good through August 31, 2026.
We are also offering Free DP on corn delivered to Pierson and Milmine based on space availability good through August 31, 2026.
MARKET SUMMARY:
Good morning. Happy Friday and Go Illini!! Grain and soy markets are higher this morning to get Friday trade rolling in what can be best described as anticipation for some sort of friendly biofuel announcement out of the Trump administration at today's White House event. It's been a low volume overnight rally for the most part with little excitement surrounding it, but with the funds as long as they are already, that the trade is higher on a Friday after being up most of the back half of the week also is telling in terms of where momentum and risk currently lies. Corn futures to start the morning are trading 1-2 cents higher, soybean futures are trading 2-4 cents higher, and the Chicago wheat market is trading 1-3 cents higher.
Crude Oil is up $2.29 at $96.77
US Dollar is up at $100.06
Dow futures are down 211 points at 46,019
WEATHER:
- Last night's frontal boundary that worked through the eastern Midwest ended up not producing as much severe weather as had been forecast, but the storm prediction center's storm reports map from Thursday still shows 5 large hail reports and 66 wind reports, mostly centered between IN and OH. Forecast-wise, this front looks to keep working south through the day today and into this evening, but things will be calmer through the weekend otherwise, with the next good round of rains not expected until the middle of next week. Temperatures will be cooler today and tomorrow, but stay on the roller coaster they've been on and quickly warm back up again by the first part of next week.
OTHER HEADLINES:
- The USDA's quarterly hogs and pigs report, released yesterday afternoon, showed the US inventory of all hogs and pigs on March 1 at 74.3 million head, which was up 0.4% from the same month last year but down roughly 1% from the December figure. Breeding hogs at 5.892 mil head were down 1.5% from last year and marketing hogs at 68.429 mil head were up 0.6% from last year.
- The European Commission on Thursday released its first crop production estimates for the 2026/27 season. The group pegged soft wheat production at 125.9 MMTs, which would be down from 134.2 MMTs this season, while barely production was seen falling 0.9 MMTs to 54.7 MMTs and corn production was seen rising 3.1 MMTs to 61.2 MMTs. Wheat ending stocks are seen falling to 11.0 MMTs vs 14.7 MMTs this year.
- Ukraine's deputy economy minister said this week that rising fertilizer prices caused by the war in Iran would not likely have an impact on Ukraine corn plantings this season, but added that should the situation drag on, it could reduce corn acreage in the 2027/28 season. Ukrainian farmers are expected to seed around 4.4 million hectares of corn this year, down just slightly from 4.5 mil last year.
- India's 2026 wheat crop is still expected to be up from last year, but is likely going to fall short of initial estimates due to unseasonal rains and hailstorms likely taking the top end off production just ahead of harvest. Current government estimates have the crop at a record 120.21 MMTs, but private groups in the country are using a more conservative 113-115 MMT production figure following recent weather developments; Indian wheat production totaled roughly 110 MMTs last year.
- Members of the United Food and Commercial Workers Local 7 union will extend a strike at a JBS meat plant in Greeley, CO into a third week next week according to a press release issued on Thursday, citing an ongoing lack of negotiations. Around 3,800 workers walked off the job in protest of unfair labor practices earlier in March.
- According to weekly data from the USDA, barge shipments down the Mississippi River in the week ending March 21st totaled 621k tons, which was up nearly 30% from the week prior. Corn shipments in the week at 356k tons were up 37% and soybean shipments at 235k tons were up 15%. STL barge freight rates were quoted at $17.88/short ton, down $1.36 from the week prior.
EXPORT NEWS:
- Private exporters reported sales of 105,000 metric tons of soybeans for delivery to unknown destinations 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
