Morning Markets: Corn: -2.50 old & -1.50 new.
Beans: +0 old & +0.75 new. Wheat: -4.25.
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. Thursday trade through the overnight hours has started much the same as previous days this week, with the ag markets quietly mixed in low volume and with small price ranges as traders continue to take a wait-and-see approach to next week's USDA data dump and the coming warm weather forecast. There are other happenings going on - Iran negotiations, E15, China, biofuels, etc. - but short term, it’s the two mentioned previously that will continue to have the most impact on price into next week, and there is not a lot new on either front this morning. Corn futures to start Thursday are trading either side of unchanged, soybeans are trading 3-4 cents higher, and the Chicago wheat market is trading 1-2 cents lower.
Crude Oil is down $0.72 at $69.62
US Dollar is down at $101.58
Dow futures are up 134 points at 52,413
WEATHER:
- Models have diverged on coming rainfall for the next 48 hours, with this morning's EU model run pushing the precip noticeably further north into northern MO, central IL, and central IN. The GFS, meanwhile, still has the rains further to the south, impacting more of central MO, southern IL, and southern IN. Totals are still seen ranging from 1-3" with some locally heavier amounts possible, but like we've talked about all week, exact amounts/locations will be extremely difficult to forecast due to the make up of the atmosphere producing individual, convection-based storm cells.
OTHER HEADLINES:
- This morning's weekly export sales report for the week ending June 18th is expected to show old crop corn sales in the week between 600k-1.3 mil MTs and old crop soybean sales between 100k-500k MTs. For the new crop, corn sales are seen between 300k-1.0 mil MTs, soybean sales are seen between 450k-1.0 mil MTs, and wheat sales are seen between 250k-600k MTs.
- Reuters reported yesterday that President Trump has requested an additional $11 billion in aid for farmers who are facing increased fuel and fertilizer prices as a result of the war with Iran. Sources familiar with the matter say of the total amount, $10 billion would go to row crop and specialty crop farmers for crops in planted in 2026, while the other billion would be allocated to farmers in Florida affected by winter storms in late 2025 and early 2026.
- Screwworm cases have continued to pop up across the southern US this week, with the USDA on Wednesday reporting four additional cases from one property in TX, marking the most concentrated cluster of detections north of the border to date. Total confirmed cases in the US since early June now stand at 20.
- Ag organizations familiar with situation said this week that extreme heat across France has killed hundreds of thousands of poultry in recent days, overwhelming carcass collection services and prompting authorities to consider on-farm burials in two of the country's largest producing regions. France is the EU's third largest poultry producer behind Poland and Spain.
- Following trial runs last year, Chinese oilseed crushers have made inquiries in recent days into Australian canola cargoes, raising the odds that trade between the two resumes following years of suspension due to phytosanitary concerns. Sources say that private crushers have been asking about shipments for delivery during the fourth quarter of this year, though there has been no confirmation of a resumption of business just yet.
- A senior energy ministry official in Indonesia on Thursday said that the country has issued a regulation to implement its new B50 biofuel mandate starting on July 1, with the plan including a three-month transition window for retailers to clear existing stocks. The move comes in response to oil supply disruptions caused by the war in the Middle East, and would replace the country's current B40 mandate.
EXPORT NEWS:
- N/A
Be careful!
Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
