November 12, 2026

Mid-Co Morning Comments:
 

• Grain markets are quiet this morning with corn off about a penny while soybeans are 6-7c lower. Soybean spreads are firmer while corn spreads are slightly wider. Crude oil is up $0.87/barrel with December WTI trading near $87.40/barrel.
• Midwest weather forecasts call for cool and dry conditions over the next week, providing a favorable window for fall fieldwork ahead of the 2027 crop. The new crop soybean/corn ratio (SX27/CZ27) currently sits at 2.44, which could encourage soybean acres next spring. South American weather remains non-threatening with the soybean crop off to a strong start.
• Corn basis continues to push higher with several processors strengthening nearby bids yesterday, particularly in the Eastern Corn Belt. River corn values are gaining ground as well, with Havana, IL now posted at +10Z and FOB Havana Terminal values near +15.5Z, approaching delivery-type levels. Meanwhile, November CIF soybean bids slipped a couple cents yesterday and are now bid +102F.
• U.S. representatives, including Jared Kushner, are reportedly meeting with Russian President Vladimir Putin in Moscow today, with plans to meet Ukrainian President Zelenskyy in Dublin tomorrow. Tensions in the Black Sea remain elevated after Russia reportedly struck a bulk carrier overnight that was headed to Odesa to load grain.
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