Closing Markets: Corn: +2.25 old & +2 new.
Beans: +3 old & new. Wheat: -11.
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.
Good evening!
Market Recap-
Wheat was the laggard today but did manage to settle off the lows - wheat futures were down around a dime. Both corn and beans spent almost the entire session hovering around unchanged before finding some traction at the end of the session to settle a little higher on the day. Meal and oil followed the same pattern and settled marginally higher. We might not see a lot of big swings ahead of the WASDE report next week. Everyone involved could be content to see where the numbers come in, and do little in the way of positioning in the coming days before the report.
Corn Summary-
Corn futures had a small range today - just a bit more than a nickel in the CZ26. Futures seems to be trying to figure out if they want to break out lower or try to move higher again. We might not get much of a move ahead of next week's WASDE. Export sales data was solid for corn although now 2026/27 is now trailing last year's pace a little bit. More firms have released yield estimates for this year's crop. S&P Global pegs corn yield at 182 bu/acre; AgResource pegs corn at 181.4 bu/ace. This versus the 183 estimate in the July WASDE.
Soybean Summary-
Soybean exports are in a good spot right now. The new crop pace is well ahead of last year, and we are seeing good activity of China buying US beans. We still have a long way to go with China but the movement is in the right direction. Markets did very little in the soybean complex today. Beans and the products were little changed. That translated into crush margins staying much the same as well.
Wheat Summary-
Wheat futures gave back all of yesterday's and then some, but did settle off the lows. Futures are trading around the 200-day moving average of 6.49 3/4 for WZ26. The July export estimates out of Russia show the impact the fighting in July between the two nations has had. A lot of risk still remains in Eastern Europe. Wheat harvest up in Canada is entering the home stretch with reports of good yields in Ontario.
Outside News Headlines-
Crude oil futures up $2.10+/bbl.
Weather Updates-
Iowa remains damp. Some moisture was prevalent overnight but not large measurable rains. Illinois has also been damp but not to the extent of Iowa. Chances for rain continue in the forecast in the coming days.
Temperatures for the central US are still expected to warm up as we move into the weekend. By next week the temps drop back to below normal for mid-August.
The 8-14 day NOAA temperature outlook is near normal or below normal for the north and east section of the corn belt. The 8-14 precipitation map puts rainfall above normal in the eastern belt and normal in the western belt.
Enjoy it!
Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
