Morning Markets: Corn: +2.75 old & +3 new.
Beans: +6.25 old & new. Wheat: +10.
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. CBOT ag markets are trading in the green this morning to get August WASDE week started, though price action throughout the overnight hours has been similarly quiet to how last week ended amid the Wednesday crop report and little new of note on any of the geopolitical fronts that still remain front and center. While supply and demand data will be obviously be the trade's focus by mid-week this week, the calendar is slowly creeping closer and closer to harvest season and that means crop assessments are only going to gain in importance. War risk is going to likely remain present well into the fall season, but shorter term price action is going to probably be more a result of yield estimates and weather forecasts than anything else. Corn futures to start Monday are trading 2-3 cents higher, soybean futures are trading 5-6 cents higher, and the Chicago wheat market is trading 8-12 cents higher.
Crude Oil is up $1.36 at $79.54
US Dollar is up at $99.77
Dow futures are down 94 points at 54,058
WEATHER:
- Weekend weather across the Midwest featured scattered rains and thunderstorms, though totals were generally light/variable for the most part outside of a few local areas in the northern part of the region that picked up upwards of 2-4". The northwest continues to largely miss out, with the Dakotas and western third of MN staying drier, and there was also a pocket across MO/IL/KY that stayed dry.
- For this week, the EU model has those northern/northwestern regions mentioned above picking up rains of 1-3" across a lot of the region, but the GFS model is noticeably drier throughout the same period. There is better agreement to the east though, with the two similar on their outlooks for 2-4" of rainfall to impact a line from IA to WV over the next five days as ridge-riding thunderstorms take aim on the heart of the Corn Belt.
- Temperatures look to be average to slightly above across much of the region the first part of the week, before cooler air works back in from the north the second half of the week and into the weekend.
OTHER HEADLINES:
- August deliveries for Monday according to the CME Group include 17 contracts of soybeans, 26 contracts of soybean oil, and 6 contracts of soybean meal.
- Friday afternoon's CFTC Commitment of Traders report for the week ending August 4th showed managed money traders in the week were buyers of 13,547 contracts of corn (+181,946), sellers of 29,535 contracts of soybeans (+125,466), and sellers of 16,906 contracts of Chicago wheat (-23,786); in the products, funds sold 11,204 contracts of meal (+77,451) and sold 29,174 contracts of oil (+80,681).
- The French Farm Ministry last week said they see the country's corn production in 2026 falling some 35% from the year prior to just 9.0 MMTs, which if accurate, would be the lowest figure since 1980. Soft wheat production was seen at 31.9 MMTs, down 0.1 MMTs from a previous estimate and down 4% from last year.
- Private Black Sea consultancy APK-Inform on Monday cut its 2026/27 grain export forecast for Ukraine by nearly 4.0 MMTs to 39.4 MMTs, citing the halt in Black Sea exports caused by ongoing Russian attacks. Ag Ministry data indicates Ukraine has exported 2.6 MMTs of grain in the season as of July 30th, up from 1.7 MMTs through the same period last year, but preliminary data for the start of August has exports down about 25% from the week prior.
- The Rosario Grain Exchange in Argentina said on Friday that farmers there were still sitting on around 30% of this season's record wheat crop, as a price rally led by happenings in the Black Sea has given farmers a reason to hold on to supplies. Farmer wheat sales at this point in the year typically cover around 86% of the crop based on data from the last five years.
- China's Sinograin said on Friday that it would be auctioning off another 516,000 MTs of imported soybeans this week on Wednesday, marking the third such sale in as many weeks as buyers continue to make room for incoming cargoes from the US that are set to arrive in the coming months. The previous two auctions sold around a half to 2/3s of the supplies available.
EXPORT NEWS:
- Private exporters reported sales of 105,000 metric tons of corn 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
