September 9, 2026

Mid-Co Morning Comments:
 

• Grain markets are mostly lower this morning with nearby spreads largely unchanged. Deferred spreads are mixed, with corn wider and soybeans firmer. One thing I’m watching today is whether SX/SF can widen to -16, where it will likely face resistance with roughly 13,500 contracts currently bid at that level. Crude oil continues to march higher, with October WTI posting a new high of $95.80/barrel this morning.
• Weather forecasts continue to call for rain over the next week, with the heaviest totals centered within roughly 100 miles of Kansas City. Our MID-CO Des Moines office picked up 5.5 inches from last night’s storms, while I only had a few sprinkles on the windshield driving into work. Highs in the 80s should stick around for another week before cooler, more fall-like weather arrives in the back half of September. A decent rain on these beans should get leaves dropping quickly in a lot of areas.
• Basis was mostly weaker yesterday. A couple of Springfield, IL rail loaders, Bartlett and Scoular, backed up nearby corn bids, indicating harvest activity is picking up in that area. Primient Lafayette was an exception, firming September corn a dime to +20Z. Nearby soybean basis continues to retreat, with both Incobrasa Gilman and ADM Decatur backing up bids yesterday.
• Yield and production estimates for Friday’s WASDE remain all over the board. Pro Farmer sits on the low end at 173.2 bpa for corn, while StoneX is the highest at 182.9 bpa, with the industry average around 178.2 bpa. Harvested acres will be another important number to watch. I think there is a chance USDA trims that figure with more corn chopped for silage this year compared to last year, which could take another bite out of total production.