Morning Markets: Corn: +2.50 old & new.
Beans: +9.50 old & new. Wheat: +0.50.
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. Overnight trade to start Wednesday has been rather reminiscent of that seen a day ago, with the soy complex leading what has been a generally higher session so far at mid-week amid more estimated crop losses from Pro Farmer and still saturated fields across large sections of the Midwest. Weather premium has, to this point in the season, been mostly a grain market feature, but following the wettest start to August on record in some places, traders are now adding premium to the other side of the market as well and this has been a lot of the reason for the week's buying. We would caution that this weather premium can disappear just as quickly as it showed up, but it’s likely going to take a shift back to some warmer/sunnier days now into September before that happens. Corn futures at mid-week are trading 2-3 cents higher, soybean futures are trading 8-11 cents higher, and the Chicago wheat market is trading either side of unchanged.
Crude Oil is up $0.11 at $84.17
US Dollar is down at $99.27
Dow futures are up 144 points at 53,547
WEATHER:
- Radar has additional thunderstorm activity working across the mid-section of the US on Wednesday and into Thursday, with rainfall expected via the models from NE/SD south and east into TN/KY. Totals and locations will be variable, but the overnight EU model run has the most uniform precip falling across MO and southern IL and southern IN. Moisture will likely be spottier to the north and west.
- Beyond this next round of storms, there's then still little to no sign in the models that a major pattern shift occurs into September, with high pressure ridging in the south/southwest and troughing in the northeast allowing air flow to continue pumping regular storm systems through the mid-section of the country. Gulf moisture flow doesn't look to be quite as extreme as in recent weeks due to shifts in the Bermuda high, but there is plenty of water present currently to fuel these storms in the short term.
OTHER HEADLINES:
- This morning's weekly ethanol update from the EIA is expected to show average daily production across the US in the week ending August 14th between 1.100-1.127 mil bbls, while stocks in the week are seen between 24.65-25.00 mil bbls. On average, production would be down from last week while stocks would be higher.
- Pro Farmer estimated IN corn yields at 183.5 bu/acre on Tuesday, which compares to 193.8 last year and the recent three-year average of 187.4. Soybean pod counts in the state averaged 1,318.6 per 3x3' area, which is down from 1,376.6 last year and the three-year average of 1,365.2. For NE, corn yields were estimated at 163.6 bu/acre vs 179.5 last year and 173.3 average, while soybean pod counts averaged 1,219.6 pods vs 1,348.3 last year and 1,226.9 on average.
- Headlines out of the Black Sea region remain largely unchanged from a week ago, with sources overnight still indicating additional attacks were ongoing. Russia reported hitting two dry cargo vessels near Odesa on Tuesday, while other sources say at least five ships had been hit near the Russian ports of Novorossiysk and Tuapse this week.
- Reuters reported late yesterday evening that the White House would be delaying new 50% tariffs on Canadian goods that were set to go into effect today until at least the end of the week, with President Trump saying that the two sides had reached a trade agreement. Additional details were lacking, but will likely be watched for throughout the day today.
- There remains little new out of the Middle East this week, with President Trump saying in a Truth Social post on Tuesday that no talks were taking place and that the Strait of Hormuz remained open. The comments contradict those made by the Iranians, who claim the Strait is closed and under their control. Trump also posted a map of the region with the label "new US territory," along with the comments.
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
