Morning Markets: Corn: +5.50 old & +5.75 new.
Beans: +4.50 old & new. Wheat: +5.75.
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. It's more of the same this morning across the ag markets, with futures once again trading in the green though maybe not quite to the same extent seen to start previous days this week. The deluge of rain in the last 10 days across the heart of the Corn Belt along with relatively negative findings out of Pro Farmer in terms of production prospects and the ongoing war in the Black Sea have given traders reason to live on the buy side of the order desk this week. Some sort of profit taking is anticipated between now and the weekend, but the fundamentals in the space are undoubtedly supportive and should favor the bulls at least into the September crop report. Corn futures to start Thursday are trading 3-4 cents higher, soybean futures are trading 2-3 cents higher, and the Chicago wheat market is trading 5-6 cents higher.
Crude Oil is up $2.09 at $86.48
US Dollar is down at $98.73
Dow futures are down 462 points at 53,068
WEATHER:
- Thunderstorm activity has continued to impact the central and south-central Corn Belt over the last 24 hours, with additional scattered, and in some places, heavy, rainfall reported through the area. These storms are working through the eastern part of the region now this morning, but Thursday should then be a quieter day overall for most of the Midwest with the models then turning a bit drier for the region for a few days into the weekend and the first part of next week.
OTHER HEADLINES:
- This morning's weekly export sales report, with data for the week ending August 13th, is expected to show old crop corn sales in the week between 0-500k MTs and old crop soybean sales between (50k)-400k MTs. For new crop, corn sales are seen between 500k-1.3 mil MTs, soybean sales are seen between 1.0-1.95 MMTs, and wheat sales are seen between 200k-450k MTs.
- Pro Farmer estimated IL corn yields at 184.2 bu/acre on Wednesday, which is down from 199.6 last year and also below the three-year average of 199.2. Soybean pod counts in the state averaged 1,430.37 per 3x3' area, which is down from 1,479.22 last year but above the three-year average of 1,389.65. For western IA, the group found corn yields and soybean pod counts that, in most cases, were down from last year but near or above the recent three-year averages. The tour will give state estimates for IA and MN, along with total US yield estimates, at the event's conclusion later this evening.
- In the latest sign of just how bad things have gotten in the Black Sea region, Ukraine's Ag Minister said this week that the country would likely only export around 1.5 MMTs of ag products during the month of August, which is some 70% below the monthly target of 5 MMTs. Meanwhile, private analytics firm Rusagrotrans sees Russian wheat exports in the month failing to reach two million tons, which if accurate, would likely be the lowest figure for the month since 2010.
- Country-specific trade data released by the Chinese government on Thursday showed imports of US soybeans in the month of July were up some 164% from the same month last year at 1.11 MMTs, though cumulative imports through the first seven months of 2026 still lag the previous year by some 40% at just 10.29 MMTs. Brazilian imports in the month were seen at 9.78 MMTs, down down nearly 6% from the same month last year, while cumulative shipments in the year now stand at 44.53 MMTs, up a little less than 6% from last year.
- In a Truth Social post Wednesday, President Trump promised "economic warfare and isolation on an unprecedented scale," in regards to Iran, threatening to other countries that they would face severe US penalties if they were to offer any sort of lifeline to the Middle Eastern nation. Additional announcements regarding sanctions could be made by the Treasury this week, but details in the post were otherwise generally limited. Crude oil futures are up some $2-3/bbl this morning.
- Sources familiar with the situation both in the US and Canada have reported this week that the two sides are close to reaching a bilateral trade agreement following progress during talks in recent days. The deal would allegedly cut US tariffs on Canadian steel and aluminum in half and would also lower the tariff on auto imports, while Canadian tariffs imposed on US farmers would be "non-existent." USTR Greer also indicated that several "longstanding trade irritants" had been resolved.
- FOMC minutes released this week from the July Fed meeting had a hawkish tone to them, with most officials supporting leaving interest rates unchanged but several preferring an immediate increase. Furthermore, most all of the members believed higher rates would become necessary if inflation fails to ease and stays well above the Fed's target. Of note, Chairman Warsh also discussed the idea of potentially reducing the annual meeting schedule from 8 to 6 to allow more data to accumulate between check-ins, but mentioned that no change would occur in 2026.
EXPORT NEWS:
- Private exporters reported sales of 150,000 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
