Morning Markets: Corn: +4.75 old & +3.75 new.
Beans: +2.75 old & new. Wheat: +12.25.
We will hold our Annual Crop Tour Meetings TOMORROW!!
Lincoln ~ Knights of Columbus ~ 8 am for Breakfast!
Monticello ~ Monticello Community Building ~ 12 pm for Lunch!
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. The broken record is playing on this morning across ag markets at the CBOT, with everything but bean oil futures once again trading in the green to start Wednesday on largely the same market background that has been present all week. Price discovery, while undoubtedly more bullish than not of late, has become a rather complicated combination of falling crop prospects in the US ahead of harvest, as well as what seems to be a stalemate in both the Black Sea and in the Strait of Hormuz. We've said it for days now, but unless/until one of these three fronts materially changes, volatility and choppy price action is likely to remain common, with markets more supported than not on the margin. Corn futures at mid-week are trading 5-7 cents higher, soybean futures are trading 4-6 cents higher, and the Chicago wheat market is trading 12-14 cents higher.
Crude Oil is down $1.53 at $80.83
US Dollar is up at $99.11
Dow futures are up 2 points at 53,647
WEATHER:
- Radar data shows very scattered storm potential across the Corn Belt on Wednesday, but systems look to be small and mostly disorganized, with not a lot of precip expected. Overall though, there is little change in the general pattern into the back half of the week and the weekend, as much of the Corn Belt remains on the drier side before rains are seen showing back up in the north and northwest into the first part of next week. Temperatures look to continue rising into next as well, which along with expected dryness, could help speed parts of the southern and south-central Midwest along to harvest.
OTHER HEADLINES:
- This morning's weekly ethanol update from the EIA, with data for the week ending August 21st, is expected to show average daily production across the US during the week between 1.075-1.105 mil bbls, while stocks are seen between 24.80-25.50 mil bbls. On average, both figures would be up from last week.
- Private Brazilian crop firm Agroconsult said on Tuesday at a local fertilizer event that it sees Brazil soybean planted area in the 2026/27 season coming in at 49.2 million hectares, which would be up just marginally from the 49.1 million planted last year. The group, like others in recent weeks, cited tightening farm margins and higher fertilizer costs caused by the ongoing war in Iran as limiting factors for expansion. Additionally, corn planted area is seen at 23.3 million hectares, which would be up from 22.6 million last year.
- The Buenos Aires Grain Exchange in Argentina on Tuesday said they expect farmers in the country to plant around 8.4 million hectares of corn in the 2026/27 season, which would match the area from last year. The group said better moisture prospects resulting from El Niño are offsetting higher fertilizer costs and pest risks, though they did add that seedings could be down more in the north where concerns over the leafhopper pest are more prevalent.
- Not a lot new this morning out of the Black Sea, but officials with NKHP - one of the largest grain terminals at Russia's Novorossiysk Port - said in a financial report Wednesday that it could take up to four months to restore damaged facilities; operations have been halted there since the beginning of the month.
- The USDA said this week that cattle imports from Mexico are forecast to reach 45,000 head in 2026 and then increase to 150,000 head in 2027 following the reopening of the Douglas, AZ border crossing earlier this week. Data from 2024 shows nearly 200k head of feeder cattle entered the US via the Douglas crossing alone, indicating that the situation is still far from normal amid increased costs to exporters.
- The Trump administration is said to be weighing additional trade duties on Canada after they announced tit-for-tat retaliatory tariffs on Tuesday, though details on any such developments are lacking according to sources at Bloomberg.
EXPORT NEWS:
- Private exporters reported sales of 333,000 metric tons of soybeans for delivery to China 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
