Morning Markets: Corn: +7.50 old & +8.25 new.
Beans: +19 old & new. Wheat: +0.
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. Markets are higher this coming out of the weekend, with fresh gap higher starts seen in both the corn and soybean markets to get Sunday evening trade started last night on more of the same geopolitical risks present as last week and a fresh injection of weather premium on a hotter shift in the forecast for the Midwest into August. Outside of those two things, which drove a lot of last week's price action also, it wasn't an overly exciting weekend in terms of new developments and we imagine this is going to produce similar market action to that seen the last several days at least early on.
Corn futures to start Monday morning are trading 6-7 cents higher, soybean futures are trading 13-16 cents higher, and the Chicago wheat market is trading 1-2 cents lower.
Crude Oil is down $0.14 at $81.64
US Dollar is up at $100.89
Dow futures are up 114 points at 52,489
WEATHER:
- It was a warm, smokey weekend across a lot of the Midwest, with Canadian wild fire smoke blanketing much of the northern and north-eastern part of the country the last couple days. Much of the region has air quality warnings out again for Monday, but its lingering heat that likely gets most of the early week attention, as daytime highs across most of the country are expected to remain well above average for one more day before cooling a bit then into the middle of the week.
- For the rest of the week, high pressure ridging looks to linger across the west but be less pronounced than last week, while a relatively fast moving low pressure trough works across the Hudson Bay region and the northeastern part of the US, bringing some cooler/wetter weather to the region than was seen the last several days. Precip-wise, rainfall for the eastern Corn Belt the next few days looks to be light/scattered, while the models then have a more organized storm system putting down heavier rainfall across the west towards the end of the week and into the weekend.
- While improved from last week, its worth noting this morning that there are still pockets throughout the Corn Belt, most notably in the northwest, that look to see little if any rainfall over the next week, which could lead to added crop stress during the critical pollination window. Temperatures are more average to below average this week, which will help, but are seen returning to above average then by next week and into August.
OTHER HEADLINES:
- Friday afternoon's Commitment of Traders report from the CFTC showed a somewhat unexpectedly large week of fund buying in the ags; managed money traders in the week ending July 14th were buyers of 30,733 contracts of corn (+43,391), buyers of 4,010 contracts of soybeans (+72,688), and buyers of 25,527 contracts of Chicago wheat (-36,798). In the products, funds bought 28,827 contracts of meal (+47,852) and bought 23,801 contracts of oil (+113,029).
- The White House late last week said trade negotiators from the US and Mexico would be resuming talks regarding the USMCA trade agreement in Mexico City this week, with USTR Greer set to be in attendance. The discussions are expected to start tomorrow on Tuesday, with notable topics likely to include steel and auto tariffs, ag trade, and electronic payment systems.
- South American consultancy Safras y Mercado said last week that they see Brazilian soybean planted area in the coming season at 49.1 million hectares, which would be up about 1.2% from last year. For corn, first crop planted area is seen increasing slightly to 3.6 mil hectares and second crop area is seen up 0.3% at 15.8 mil hectares. With the given acreage estimates, the group sees soybean production up slightly on the year at 180.1 MMTs, while corn production is seen increasing to 144.96 MMTs.
- China's soybean imports from the US during the month of June totaled just 1.27 million tons, which was down some 21% from the same month last year, while Brazilian imports at 12.08 million tons were up some 14% from last year. Total US shipments in the first half of the 2026 calendar year totaled 9.31 MMTs, down some 42% from a year ago, and total Brazilian shipments have totaled 34.75 MMTs, up 9% from a year ago.
- Russian Ag Minister Oksana Lut said last week that, despite ongoing fuel shortages throughout much of the country caused by Ukrainian military strikes, farmers would have sufficient fuel supplies to get through harvest and that crop prospects remained good. Lut added that good yields in the south were likely to offset some year/year losses in Siberia, and also mentioned that domestic demand should be well-covered and that the supply meant there was good export potential.
- In the livestock world, a US federal judge last week granted class action status to several lawsuits filed by consumers and other beef buyers who are seeking billions of dollars in damages from US meatpackers over alleged price inflation practices. In general, the lawsuits accuse several companies of coordinating to restrict beef supplies and driving up prices between 2014 and 2020, with the defendants accounting for more than 80% of the beef sold annually in the US.
EXPORT NEWS:
- 264,000 metric tons of soybeans for delivery to China during the 2026/2027 marketing year
- 110,000 metric tons of soybeans for delivery to unknown destinations during the 2026/2027 marketing year
- 100,000 metric tons of corn for delivery to Colombia during the 2026/2027 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
