May 19, 2026

Mid-Co Morning Comments:
 

• Grain markets are mixed this morning with corn, soybeans, and Chicago wheat all hovering within a penny of unchanged. Spreads have tightened up a bit overnight, with CN/CU trading to -4 ¼ while SN/SX firmed back to +12 ½.
• Basis was mostly steady yesterday. ADM Decatur firmed its nearby corn bid to +12N, with reports of even stronger values trading there. Poet in Marion, OH continues to post a stout nearby bid at +35N, which seems to be keeping eastern rail bids from softening too much.
• Yesterday afternoon’s crop progress report showed corn and soybean planting running well ahead of the 5-year averages, with corn at 76% planted and soybeans at 63%. Michigan remains behind pace, and parts of south-central Iowa have been a grind, but overall the crop is getting in the ground at an impressive clip.
• The winter wheat crop posted its lowest mid-May rating since 1989, with just 27% rated good/excellent nationwide. I remember putting together a production sheet back in ’22 for a southeastern Colorado wheat farmer whose 1,000-acre wheat field yielded just 4.67 bpa — sounds like those stories developing again this year across Oklahoma and Texas.
• We picked up around 3 to 4 tenths in town Bloomington, IL yesterday, with heavier totals reported in southern IL. Northeast Kansas and northwest Missouri saw some nasty storms that appeared to bring flooding issues near Manhattan, KS. Lake of the Ozarks area had 4-6 inches of rain is some spots. Forecast models are also calling for significant rainfall across the southern Delta, with some areas of Arkansas and Louisiana projected to receive 6–10 inches.