Thursday, September 3, 2026
Closing Markets: Corn: -2.75.
Beans: +6. Wheat: -19.75.
TFG is offering a drying incentive at MILMINE & EMERY TOMORROW!
2 1/2 cents per pt of moisture up to 30%
Hours are normal 7-4pm!
TFG will be offering the same drying incentive at ALL LOCATIONS starting Tuesday, September 8th
Harvest hours will be used as needed!
Good evening!
Market Recap-
Corrective behavior was the theme throughout much of the day again at the CBOT on Thursday, though the selling abated in the bean market at mid-day, allowing values there to work higher into the close while the grain markets stayed lower. Early pressure was the result of another round of overnight peace headlines out of the Black Sea region, with buyers then coming in throughout the day to drive things back well off the lows by the time markets closed this afternoon. Headline risk reigns supreme, and is only likely to expand into the long three-day holiday weekend.
Corn Summary-
Corn futures closed Thursday in the red, but were well off their lows made earlier in the session by the close as bargain buyers again emerged throughout the morning to help ease some of the selling. It's boring, but market conversation today is largely rinse and repeat from yesterday, with there once again nothing fundamentally new driving the lower trade outside of profit taking and position adjustment ahead of a three-day weekend. We are skeptical that any sort of peace agreement is getting any closer in the Black Sea and until this happens or its confirmed the US crop is bigger than what traders think today, room to the downside should be fairly limited.
Soybean Summary-
Soybean oil futures sold off for a second consecutive day on Thursday but were unable to keep the rest of the complex down with them as the beans and the meal each finished the day in the green. With much of the talk this week focused on grain-related happenings, soybean futures have quietly held up rather well on their own as fund managers likely see the risk profile as more palatable here compared to the others. That said, we would caution against getting lulled to sleep in this market, as the arrival of more widespread harvest towards the end of the month and the Trump-Xi summit on the 24th are likely to reintroduce some sort of greater headline risk that doesn't appear to be present today.
Wheat Summary-
Headlines out of the Black Sea continue to drive much of the day-to-day price action in the wheat market, with another round of overnight news regarding peace talks working to drive the market lower throughout the day on Thursday. We talked about in corn, but until pen goes to paper on a peace agreement to allow for grain passage into/out of the Black Sea, we are going to remain skeptical that any sort of progress is being made. As the old saying goes, "watch what they do, not what they say;" Putin can talk peace all he wants, but when missiles are still flying, it’s hard to genuinely believe that he's actually interested in it. We do not see an end to the Russia/Ukraine war as being close at hand.
Outside News Headlines-
Crude oil futures up $0.45+/bbl.
Weather Updates-
Forecasts into and through the weekend remain little changed this afternoon, with ridge-riding thunderstorms across the northern and northeastern parts of the Midwest still the main feature in the forecast into the first part of next week.
Thursday's EU model run has rains from ND to the East Coast totaling around a half inch or less for most of the area through Sunday evening and into early Monday morning, with some locally heavier totals of around an inch or so possible in some locations.
Models were drier again this afternoon in the extended period, as run-to-run variability has remained common and kept confidence in the forecast fairly low. High pressure looks to now linger into the back half of the month, which is keeping the hotter/drier weather seen across a lot of the country's mid-section this week in the forecast.
Enjoy it!
Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
Closing Markets: Corn: -2.75.
Beans: +6. Wheat: -19.75.
TFG is offering a drying incentive at MILMINE & EMERY TOMORROW!
2 1/2 cents per pt of moisture up to 30%
Hours are normal 7-4pm!
TFG will be offering the same drying incentive at ALL LOCATIONS starting Tuesday, September 8th
Harvest hours will be used as needed!
Good evening!
Market Recap-
Corrective behavior was the theme throughout much of the day again at the CBOT on Thursday, though the selling abated in the bean market at mid-day, allowing values there to work higher into the close while the grain markets stayed lower. Early pressure was the result of another round of overnight peace headlines out of the Black Sea region, with buyers then coming in throughout the day to drive things back well off the lows by the time markets closed this afternoon. Headline risk reigns supreme, and is only likely to expand into the long three-day holiday weekend.
Corn Summary-
Corn futures closed Thursday in the red, but were well off their lows made earlier in the session by the close as bargain buyers again emerged throughout the morning to help ease some of the selling. It's boring, but market conversation today is largely rinse and repeat from yesterday, with there once again nothing fundamentally new driving the lower trade outside of profit taking and position adjustment ahead of a three-day weekend. We are skeptical that any sort of peace agreement is getting any closer in the Black Sea and until this happens or its confirmed the US crop is bigger than what traders think today, room to the downside should be fairly limited.
Soybean Summary-
Soybean oil futures sold off for a second consecutive day on Thursday but were unable to keep the rest of the complex down with them as the beans and the meal each finished the day in the green. With much of the talk this week focused on grain-related happenings, soybean futures have quietly held up rather well on their own as fund managers likely see the risk profile as more palatable here compared to the others. That said, we would caution against getting lulled to sleep in this market, as the arrival of more widespread harvest towards the end of the month and the Trump-Xi summit on the 24th are likely to reintroduce some sort of greater headline risk that doesn't appear to be present today.
Wheat Summary-
Headlines out of the Black Sea continue to drive much of the day-to-day price action in the wheat market, with another round of overnight news regarding peace talks working to drive the market lower throughout the day on Thursday. We talked about in corn, but until pen goes to paper on a peace agreement to allow for grain passage into/out of the Black Sea, we are going to remain skeptical that any sort of progress is being made. As the old saying goes, "watch what they do, not what they say;" Putin can talk peace all he wants, but when missiles are still flying, it’s hard to genuinely believe that he's actually interested in it. We do not see an end to the Russia/Ukraine war as being close at hand.
Outside News Headlines-
Crude oil futures up $0.45+/bbl.
Weather Updates-
Forecasts into and through the weekend remain little changed this afternoon, with ridge-riding thunderstorms across the northern and northeastern parts of the Midwest still the main feature in the forecast into the first part of next week.
Thursday's EU model run has rains from ND to the East Coast totaling around a half inch or less for most of the area through Sunday evening and into early Monday morning, with some locally heavier totals of around an inch or so possible in some locations.
Models were drier again this afternoon in the extended period, as run-to-run variability has remained common and kept confidence in the forecast fairly low. High pressure looks to now linger into the back half of the month, which is keeping the hotter/drier weather seen across a lot of the country's mid-section this week in the forecast.
Enjoy it!
Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
