Morning Markets: Corn: +1.25 old & +0.75 new.
Beans: +5.75 old & +4.50 new. Wheat: -2.25 old & -2 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. Mixed trade is being seen across the CBOT this morning to get Tuesday trade started, with the soy complex mostly in the green while the grain markets are unchanged to quietly lower in what has been a largely uneventful overnight trading session. Yesterday's progress updates for corn and beans were generally as expected and remain at or ahead of average, which gave traders little new to chew on coming into today and leaves the space to the mercy of geopolitical headlines that are likely to pick up again into mid-week. Corn futures this morning are trading unchanged to a penny lower, soybean futures are trading 3-5 cents higher, and the Chicago wheat market is trading 2-3 cents lower.
Crude Oil is down $0.15 at $87.27
US Dollar is up at $98.25
Dow futures are up 238 points at 49,877
WEATHER:
- Corn Belt weather will stay on the drier side generally for another couple days before a Canadian low pressure system brings rain and thunderstorms back to the region Thursday/Friday. Rainfall totals of 0.25-0.5" will favor areas generally west of the Mississippi River, while rain in the east will likely be scattered/more modest into and through the weekend.
- Temperature-wise, the central and eastern US stay warmer for another couple days into the back half of the week before cooler air from the north is able to work back into the US through the weekend and into next week. The models have the south and southeast staying slightly warmer than normal into next week, but otherwise, most of the rest of the country looks to see several days of seasonally cooler temps into the end of April.
OTHER HEADLINES:
- At the state level, wet conditions in the west have kept early season crop progress generally slow, with IA just 2% planted on corn vs 16% last year, MN at 6% vs 8% last year, and SD at 4% vs 6% last year. IN is 14% planted vs 2% last year and IL is 13% planted vs 6% last year. On soybeans, IA is off to a similarly slow start here, with just 1% of the crop planted vs 10% last year. IL, meanwhile, is 20% planted vs just 9% last year, while IN is 19% planted vs just 3% last year.
- The USDA's ag attaché to Argentina, in a report issued on Monday, said they see corn production in the country this year at 61 MMTs, which is well above the latest monthly estimate from the USDA at 52 MMTs. The figure is more in line with local estimates, and if accurate, would be a new record. For 2026/27, the group estimated production at 56.5 MMTs.
- Staying in South America, crop progress in Brazil has continued to advance, with soybean harvest in the country now reaching 92% complete according to AgRural. In a statement, the group said second corn conditions had been favorable, and also said this would be the last weekly progress update until the end of May when winter crops are ready to be harvested.
- US Trade Representative Jamieson Greer had meetings with Mexican President Claudia Sheinbaum on Monday regarding the USMCA trade agreement that both sides described as productive, signaling working progress on the situation ahead of a formal review that is expected to begin in a little over a month in Mexico City. It is unclear how long this review process is expected to take, but it is likely to have significant ramifications on North American trade flows.
EXPORT NEWS:
- 100,000 metric tons of corn for delivery to Colombia during the 2025/2026 marketing year
- 195,000 metric tons of corn for delivery to unknown destinations during the 2025/2026 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
