Morning Markets: Corn: -1.50 old & -3 new.
Beans: -9.75 old & -7.75 new. Wheat: +2.50.
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. Happy Friday. Futures markets across the ag space are lower this morning to get Friday started, with beans the downside leader on a pullback from yesterday's pop to new highs. Despite ongoing attacks and tensions in the Middle East, oil futures are also lower at this writing, though have seen another wide-ranging night of trade, which is likely the bigger chunk of the reason for the selling seen across most of the ag markets. Corn futures to begin wrapping up the week are trading 1-3 cents lower, soybean futures are trading 6-9 cents lower, and the Chicago wheat market is trading 1-2 cents higher.
Crude Oil is down $1.92 at $93.81
US Dollar is up at $100.03
Dow futures are up 224 points at 46,945
WEATHER:
- Weekend weather focus for the Corn Belt will be on a rather sizeable winter storm system that is expected to impact most of the region from Saturday night into Tuesday, bringing rain, snow, and ice to pretty much the entire eastern half of the country. Southern areas will obviously see more of the rainfall, while areas in the central and northern parts of the region look to see snow and ice on the back side of the system. Total moisture through the middle of next week is being estimated by the models to total just a half inch to an inch or so throughout most of the area, with heavier totals coming in the form of snowfall further to the north around the Great Lakes.
- The system will also open up a corridor of frigid arctic air coming into the central and eastern US then early next week, before temperatures are seen then quickly returning to more mild levels by the end of the week and following weekend.
- More of the same for weekend weather across South America, with Argentina expected to see a continued mix of rain and sunshine throughout the southern and south-central parts of the country, while areas to the northeast and up into southern Brazil look to continue remaining on the dry side. Central and northern Brazil see continued rainfall as well, but totals will be somewhat spotty and generally less than an inch for a lot of the region.
OTHER HEADLINES:
- Friday morning deliveries from the CME Group include another 49 contracts of corn, 11 contracts of soybeans, 1 contract of meal, 5 contracts of KC wheat, and 75 contracts of rough rice.
- Reuters this morning is reporting that India has delayed progress on a trade agreement with the US following new investigations launched by Washington this week, signaling ongoing differences remain despite the Trump administration repeatedly asserting in recent weeks that a deal was more or less complete.
- Brazil's CONAB this morning, in a monthly update, said they see soybean production in the country totaling 177.8 MMTs, down just marginally from their estimate last month. Safrinha corn production was estimated at 108.4 MMTs, also down marginally from last month, while total corn production was seen at 138.3 MMTs vs 138.4 last month.
- Weekly data from the Buenos Aires Grain Exchange showed corn harvest in Argentina ticked up 2.2% over the past week to 9.4% complete, but showed little else in terms of updates; production was held steady at 57 MMTs. For soybeans, conditions in the poor category fell 2% on the week to 24%, while production was also held steady here at 48.5 MMTs.
- Weekly data from the USDA shows barge shipments down the Mississippi River in the week ending March 7th totaled 610k tons, which was up a little over 5% from the week prior. Corn shipments totaled 329k tons, up 15%, and soybean shipments totaled 240k tons, down 12%. STL barge freight rates were quoted at $20.23/short ton, down $2.83 from the week prior.
- Following news that Cargill has suspended soybean exports from Brazil to China on Thursday, private groups Abiove and Anec have expressed further concern over the situation, saying Thursday that they were both working with authorities to find solutions that would guarantee the flow of trade. Brazil's Ag Minister, in an interview with CNN on Thursday, said the government would not be weakening the sanitation system due to an "irresponsible" corporate stance.
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
