Morning Markets: Corn: -3.75.
Beans: -11. Wheat: -2.
TFG is offering a drying incentive at ALL LOCATIONS TODAY!! through Sunday 9/13!
2 1/2 cents per pt of moisture up to 30%. Regular rates above.
Harvest hours will be used as needed!
MARKET SUMMARY:
Good morning. Happy Friday and Happy WASDE day. Markets are lower this morning as traders await September WASDE data, set for release at 11am central. As mentioned this week, corn yield is expected to be revised lower, while beans could see a milder report. Harvested acres will also be closely watched, with the possibility of another revision this month. Corn futures are trading 4-5 cents lower, soybean futures are trading 9-11 cents lower, and the Chicago wheat market is trading 3-4 cents lower.
Crude Oil is down $3.53 at $98.95
US Dollar is up at $99.06
Dow futures are up 511 points at 52,606
WEATHER:
- The Midwest will continue to experience rainfall into the weekend as improved moisture supports much of the region, with additional precipitation expected early next week. Temperatures will remain variable but appear to be trending cooler overall.
OTHER HEADLINES:
- This morning's weekly export sales report, with delayed data data for the week ending September 3rd is expected to show old crop corn sales in the week between (600k)-50k MTs, old crop soybean sales between (500k)-0 MTs. For the new crop, corn sales are seen between 1.0-1.9 MMTs, soybean sales are seen between 1.0-2.6 MMTs, and wheat sales are seen between 250k-350k MTs.
- Weekly crop data from the Buenos Aires Grain Exchange in Argentina this week showed for old crop corn, harvest at 96.9% complete with production held steady at 64 MMT. New crop planting is 5.5% complete.
- Weekly data from the USDA showed barge shipments down the Mississippi River in the week ending September 5th at 360k tons, which was down 33% from the week prior. Corn shipments in the week were down 26% at 238k tons and soybean shipments were down 45% at 108k tons. STL barge freight rates were quoted at $31.60/short ton, which was up $4.35 from the week prior.
- U.S. corn considered to be in drought area for the week ending September 8th fell 3% to 25% compared to this time last year at 13%. Soybeans in drought area decreased 3% to 27%, while a year ago drought area was at 22%.
- Vessel transits through the Strait of Hormuz dropped to 7 yesterday, down from 11 on Wednesday, compared to the 10-day average of 15 vessels as tensions and attacks in the region persist. Before the escalation started in the Middle East, a typical day would see 125 vessel transits.
EXPORT NEWS:
- Private exporters reported sales of 264,000 metric tons of corn for delivery to Mexico 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
