Morning Markets: Corn: -0.50 old & new.
Beans: +4.50 old & +4.75 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 and happy Friday. Corn is slightly weaker this morning while wheat and the soy complex are mixed. For the week so far, wheat markets have posted strong gains, led by HRW (+39¾¢) and SRW (+32¼¢). Corn is modestly higher (+¾¢), soybeans are nearly unchanged (-¼¢), while soymeal (+$0.80/ton) and soyoil (+2.34¢/lb) are firmer. As the week wraps up, weather, export demand, and geopolitical risks remain the key market drivers, as traders monitor late-July rain prospects, Chinese buying interest, Black Sea grain flows, and escalating Middle East tensions.
Crude Oil is up $2.58 at $80.86
US Dollar is up at $100.85
Dow futures are down 508 points at 52,278
WEATHER:
- The latest GFS and EU weather models continue to show a strong ridge supporting above-normal temperatures across the central U.S. through the weekend. Both models have trended wetter for parts of the northern and eastern Corn Belt late next week and into month-end, with increased chances for scattered ridge-riding thunderstorms. While forecast confidence remains moderate due to ongoing variability, agreement between the two models has improved.
OTHER HEADLINES:
- Wheat prices pulled back from multi-month high as traders reassess Black Sea risk premiums. The market remains highly volatile, with disruptions affecting trade flows rather than supply. Some shipowners are reportedly refusing to call at Ukrainian ports due to Russian attacks.
- The Buenos Aires Grain Exchange reports Argentina’s wheat harvest at 92% complete, a 4 point advance on the week. Crop conditions improved sharply as 97% of acreage now has adequate moisture and 71% is rated Good/Excellent. They also estimate Argentina's corn harvest has reached 62% complete but remains 17 points behind recent years due to wet field conditions in southern Buenos Aires.
- FranceAgriMer projects French soft wheat exports at 14.4 MMT, with lower shipments to both the EU and third countries year over year. Ending stocks are forecast at a higher 3.65 MMT, indicating ample supplies. No corn balance sheet was released, though it remains a key market focus with potential implications for wheat.
- The market remains focused on the potential for increased Chinese purchases of U.S. soybeans, with expectations likely to build ahead of President Xi's scheduled September visit to Washington. Recent industry reports indicate Sinograin, China's state-owned grain reserve manager, may have purchased 12 cargoes of U.S. soybeans out of the Gulf for September/October shipment yesterday. Traders will watch for USDA flash sales for confirmation. Any renewed tensions stemming from U.S. allegations of Chinese election interference will need to be monitored as it could complicate trade negotiations and temper expectations for large-scale buying commitments, adding uncertainty to soybean demand prospects.
- Argentina is increasingly relying on imported Paraguayan soybeans to support crushing demand as farmer selling remains slow, while Brazil continues to gain ground in global soybean meal exports. Limited soybean and wheat sales from Argentine farmers could keep domestic supplies tight and support regional export competition.
- According to data from the American Farm Bureau Federation, U.S. farm losses are projected to deepen in 2027, with per-acre losses estimated at $167 for corn, $138 for soybeans, and $145 for wheat. The worsening outlook has prompted farm groups to push for stronger government support, as aid payments are expected to account for roughly 30% of farm income in 2026.
EXPORT NEWS:
- 340,000 metric tons of soybeans for delivery to China during the 2026/2027 marketing year.
- 256,634 metric tons of soybeans for delivery to Mexico during the 2026/2027 marketing year.
- 110,000 metric tons of soybeans for delivery to unknown destinations 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
