Morning Markets: Corn: +2.25 old & new.
Beans: +2.75 old & new. Wheat: +14.75.
We will hold our Annual Crop Tour Meetings Thursday, August 27th
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. Happy WASDE day. It's been risk-on throughout the overnight session so far to start Wednesday, with wheat futures pacing gains across the ag space ahead of what is likely to be a somewhat volatile data day with the August supply and demand update due out in just a few hours. The report is obviously going to be the talk of most traders by the time the close rolls around this afternoon, but like we've talked about all week, one cannot simply forget about the situations in either the Black Sea or the Middle East, as they both clearly still carry significant headline risk. Good luck with today's numbers and remember that when in doubt, risk management is often not a bad strategy to employ. Corn futures at mid-week are trading 3-4 cents higher, soybean futures are trading 53-4 cents higher, and the Chicago wheat market is trading 12-15 cents higher.
Crude Oil is down $0.48 at $82.72
US Dollar is down at $99.73
Dow futures are up 43 points at 53,923
WEATHER:
- Satellite data across the Midwest shows the best rains over the last 24 hours favored the eastern part of the region, with pockets in IN and OH seeing upwards of 6-8" in some local areas. Totals were less to the north and west, but models see additional thunderstorm activity across the region today and into tonight, with storm potential to the north then increasing into the end of the week and weekend.
- Temperature forecasts have trended moderately warmer the rest of the week over the last couple days, with cooler air from the north now not expected to work as far south and east as was anticipated coming out of the weekend.
- The CME Group's delivery slate was again quiet this morning, with just one contract of soybeans being assigned overnight.
- This morning's WASDE update is expected to show old crop corn ending stocks at 1.999 bil bu, with new crop seen at 1.725 bil bu; production is estimated at 15.934 bil bu on a national average yield of 182.4 bu/acre. For soybeans, old crop ending stocks are seen at 321 mil bu, while new crop stocks are seen at 304 mil bu; production is estimated at 4.472 bil bu on a national average yield of 52.9 bu/acre. The report is due out at 11am central time.
- Weekly ethanol data from the EIA due out this morning for the week ending August 7th is expected to show average US daily production during the week between 1.087-1.115 mil bbls, while stocks are seen between 24.290-25.224 mil bbls.
- Sources familiar said on Wednesday that China's Sinograin sold about 89% of the 516,000 tons of soybeans that were up for auction this week, up notably from the previous two as the state stockpiler continues to clear room for new incoming cargoes. Additional auctions are expected in the coming weeks.
- Grain exports out of the Black Sea region are seen continuing to fall, with Russian sources saying August exports to this point in the month are down some 20% through the first ten days from the same period last year, while shipments out of Ukraine through the first part of the month are down some 75% from last year.
- Pakistani mediators say a deal between the US and Iran to reopen the Strait of Hormuz is "close" despite rhetoric out of both sides continuing to indicate otherwise. US President Trump has repeatedly asserted that the US has control over the Strait, while Tehran says the Strait won't be reopened unless the US agrees to its concessions.
- Trade officials from the US and Canada are said to be outlining a potential agreement to present to President Trump sometime next week, suggesting that trade negotiations between the two sides are advancing though little details surrounding the proposal have been seen.
EXPORT NEWS:
- Private exporters reported sales of 244,000 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
