Morning Markets: Corn: +3.75 old & +3.50 new.
Beans: +8.50 old & +7 new. Wheat: -2.75 old & -3.25 new.
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. CBOT ag markets are mixed to mostly higher to start mid-week trade this morning. With the conflict in the Middle East remaining in a negotiation phase, grain markets have shifted their focus back to underlying fundamentals. NOPA crush data today is expected to show a record monthly crush number, signaling strong demand in the soy complex. Corn futures are trading 2-3 cents higher, soybean futures are trading 7-8 cents higher, and the Chicago wheat market is trading 2-3 cents lower.
Crude Oil is up $0.80 at $92.08
US Dollar is up at $98.18
Dow futures are up 41 points at 48,796
WEATHER:
- The Midwest forecast continues to see small systems that will produce scattered showers throughout the week. A cold front will sweep through the end of the week and early into next week. The 6-10 day outlook shows an above normal precipitation outlook. While the rains will help increase soil moisture, prolonged rains could start to affect planting progress.
OTHER HEADLINES:
- NOPA (the National Oilseed Processors Association) is expected to release monthly US soybean crush data later this morning at 11am central time. Traders see the group pegging March crush at 229.978 mil bu, which if accurate, would be up nearly 10% from the February figure and up some 18% from March 2025. Soybean oil stocks as of the end of the month are seen at 2.173 bil lbs, which would be the largest monthly figure since June of 2013.
- This morning's weekly ethanol update from the EIA, with data for the week ending April 10th, is expected to show average daily production in the week between 1.050-1.110 mil bbls, while stocks in the week are seen between 25.9-26.15 mil bbls. On average, both figures would be down from last week.
- Several Argentine grain ports are experiencing delays in grain deliveries due to protests by independent truckers according to reports from the Center for Grain Exporters. Truckers are protesting grain transport fees that they say fail to cover diesel, tolls, and maintenance costs. Diesel prices are up nearly 30% this year. However, operations at the port area of Rosario, which handles 80% of the country's grain exports, is not experiencing any issues.
- According to Russia's agriculture ministry, 97% of winter crops are in good to satisfactory conditions. Ukraine winter crops are also being reported in good condition. Winter wheat dominates Ukrainian wheat production, as it accounts for over 90% of the total wheat harvest.
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
