August 7, 2026

Mid-Co Morning Comments:
 

• Good morning and happy Friday. Grain markets are firmer this morning with corn and soybeans both a few cents higher. Spreads are also firmer, with CU/CZ trading in a tight quarter-cent range. Crude oil futures are slightly weaker and trading below $77/barrel.
• Another flash sale to China was announced yesterday, while Reuters reported an additional 10–15 cargoes were purchased over the last 24 hours as China continues working toward the 25 MMT pledge. The steady buying has helped keep SX/SF in check, but I would look for that spread to widen if U.S. weather continues to favor soybean production along with seasonal trends.
• Average trade estimates for next week’s USDA report are 182.4 bpa on corn (15.9 bil. bu. production) and 52.9 bpa on soybeans (4.5 bil. bu. production). This will be a tough one to pinpoint given the variability across the country this year. There are certainly production issues in the western Corn Belt and western Plains, but the big question is how much strong production in Iowa and much of the Eastern Corn Belt can offset those losses. I also think harvested acres could come in a bit lower than expected due to increased silage demand, especially in western areas that have dealt with tougher growing conditions.
• NOAA’s latest 7-day forecast shows soaking rains across portions of the Eastern Corn Belt, while the central Plains are also expected to pick up some much-needed moisture in Kansas, Nebraska, and eastern Colorado. Just as important, there is no extreme heat projected over the next several days, with cloud cover helping keep temperatures in check. Overall, it’s a pretty ideal mid-August forecast and should be beneficial for grain fill.