Morning Markets: Corn: +4.75 old & +3.25 new.
Beans: +11 old & +6.25 new. Wheat: +3.75.
PLEASE JOIN US TODAY FOR OUR 2026 FOCUS MEETINGS!!
TODAY! at the Knights of Columbus in Lincoln with breakfast at 8:00am and meeting to follow.
TODAY! at the Monticello Community Building in Monticello with lunch at 12:00pm and meeting to follow.
Topflight Grain is offering Free PL on soybeans to all full-time locations except Maroa based on space availability good through August 31, 2026.
We are also offering Free PL on corn delivered to Pierson and Milmine based on space availability good through August 31, 2026.
MARKET SUMMARY:
Good morning. Turn-around-Tuesday appears to be the theme of the day this morning, as ag markets at the CBOT are seeing a bounce this morning after Monday's sell-off on news that the US-China relationship hadn't completely deteriorated amid plans for trade team meetings in the next couple weeks. Yesterday, traders assumed the Trump/Xi meeting at the end of the month was off due to developments in Iran, but the overnight headline that interim meetings would be had in the meantime has seemingly soothed those fears for the time being. That said, if forced to make a bet one way or the other, we would assume this isn't the last time the meeting comes into question between now and the end of the month and would simply ask the question of 'what happens if the March meetings go poorly?' Corn futures this morning are trading 4-5 cents higher, soybean futures are trading 6-12 cents higher roughly, and the Chicago wheat market is trading 4-5 cents higher also.
Crude Oil is up $6.23 at $77.46
US Dollar is up at $99.270
Dow futures are down 921 points at 48,024
WEATHER:
- Not a lot new for the Midwest weather-wise this morning, as models continue to be in good agreement on near-daily rain/storm chances throughout much of the southern and southeastern parts of the US through the week this week and into next week. The morning model run from the EU is similar in terms of rainfall totals over the next seven days as to what was seen yesterday, while there has been no change in the expected warmup that looks to occur across generally the eastern 2/3s of the US beginning today/tomorrow and lasting into next week.
- Forecasts this morning for South America are wetter in the back end of the ten day forecast, but otherwise little changed through the week this week as models continue to show good rains throughout most all of Argentina and northern/north-central Brazil in the period but continued dryness for southern Brazil and eastern Paraguay. Temperatures are little changed also, with models still not seeing much of any heat concerns for either country over the next week.
OTHER HEADLINES:
- Tuesday delivers from the CME Group include another 215 contracts of corn, 27 contracts of soybeans, and 266 contracts of rough rice.
- The USDA's monthly Fats and Oils report yesterday showed US soybean crush in January at 228 mil bu, which was down less than 1% from December but up 7% from January of 2025. Soybean oil stocks were seen at 2.433 bil lbs, which was up 12% from December and up 34% from January last year.
- USDA also released monthly corn grind data yesterday afternoon, which showed corn used for ethanol in January at 461 mil bu, which was down 4% from December and down 1% from last January. Total corn usage was seen at 505 mil bu, down 5% from December and down 2% from last January.
- Brazil's CONAB yesterday evening pegged soybean harvest progress across the country at 42% complete as of Saturday, which compares to 48% complete through a similar day last year and the five-year average of 38% complete. Safrinha corn planting was pegged at 65% complete, compared to 70% last year and the five-year average of 57%.
- In a monthly crop report, Australia's Department of Agriculture said on Tuesday that total grain and oilseed production in the 2025/26 season was pegged at 68.4 MMTs, which is up nearly 2 MMTs from December and the second highest figure on record; wheat production is seen near 36 MMTs, the third highest figure on record. The March report is the final for the season.
- It’s unclear this morning whether the Strait of Hormuz has been closed to vessel traffic following comments from Iran's Revolutionary Guard Corps that such an event had occured on Monday. US Central Command told Fox News that the Strait had remained open despite the announcement, making it unclear at this writing exactly what the impacts on global shipping might be in the near term.
- A US Federal appeals court on Monday refused a Trump request to postpone tariff refund proceedings, sending the case back to the US Court of International Trade to move forward with a decision on how importers will be reimbursed for tariffs that SCOTUS recently deemed unlawful.
EXPORT NEWS:
- Private exporters reported sales of 196,000 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
