Good morning.
Grain prices are in recovery mode as crude oil moves higher again. Some positioning will be noted ahead of the crop report tomorrow. Estimates are suggesting that corn and bean production will be lowered but acreage adjustments are the wildcard. Still waiting on active harvest in the Midwest to get a better handle on yields. November soybeans remain in a tight range, while December corn finds support from last week’s low.
Corn futures for Thursday are trading 4-5 cents higher, soybean futures are trading 8-10 cents higher, and the Chicago wheat market is trading 3 to 4 cents higher.
Crude oil futures are up another $2.00 this morning with the October WTI contract nearing $100. The Iran war continues with President Trump now suggesting it may not end until after the elections. Combine that with the Black Sea war, and the commodity markets continue to find underlying support.
Heavy rains moved through Iowa yesterday with remnants spilling over into Illinois. Rain is moving through Missouri this morning and will likely impact some areas in southern Illinois. Rains over the next few days will favor the west, with the east seeing mostly sunny conditions through the weekend. Small rain chances return early next week. The extended forecast continues to suggest warm temps, but a return to above normal precip. Harvest activity continues to be active in the Delta states, while Midwest harvest progress is just starting. It is expected that a chunk of corn harvest will get done before many beans get cut.
For the weekly ethanol production report today, production is expected at 1.105 mln. barrels per day, which is down 5 mln. b/d from last week. Ethanol stocks are expected at 25.123 m bbl., which would be up from 25.035 m bbl. last week. The ethanol report was delayed one day due to Monday’s holiday. The export sales report, normally released on Thursday, will be released tomorrow.
For tomorrow’s crop report, the trade is expecting the corn yield to be cut to 178.1, which would be down from 180.2 bpa in August. The estimate for corn production is 15.777 bbu., which would be down nearly 200 mbu. from last month. The average estimate for the bean yield is 52.4 bpa, which is down from 52.7 bpa. That would place bean production at 4.492 bbu., down 27 mbu. from last month. The trade will be closely watching to see what happens with harvested acres as there is a possibility that acres get adjusted again this month.
Corn ending stocks for 26/27 are expected to fall to 1.511 bbu., based on a survey of analysts. This would be down 142 mbu. from last month. Bean ending stocks are expected at 290 mbu., down 30 mbu. from August. Wheat ending stocks are expected at 718 mbu., basically unchanged from last month.
At the Republican Party’s first-ever midterm convention last night, President Trump proposed to pay every U.S. adult $5,000 if the Republican party wins the November congressional elections.
Have a great day.
Grain Comments: 09-10-2026
Good morning.
Grain prices are in recovery mode as crude oil moves higher again. Some positioning will be noted ahead of the crop report tomorrow. Estimates are suggesting that corn and bean production will be lowered but acreage adjustments are the wildcard. Still waiting on active harvest in the Midwest to get a better handle on yields. November soybeans remain in a tight range, while December corn finds support from last week’s low.
Corn futures for Thursday are trading 4-5 cents higher, soybean futures are trading 8-10 cents higher, and the Chicago wheat market is trading 3 to 4 cents higher.
Crude oil futures are up another $2.00 this morning with the October WTI contract nearing $100. The Iran war continues with President Trump now suggesting it may not end until after the elections. Combine that with the Black Sea war, and the commodity markets continue to find underlying support.
Heavy rains moved through Iowa yesterday with remnants spilling over into Illinois. Rain is moving through Missouri this morning and will likely impact some areas in southern Illinois. Rains over the next few days will favor the west, with the east seeing mostly sunny conditions through the weekend. Small rain chances return early next week. The extended forecast continues to suggest warm temps, but a return to above normal precip. Harvest activity continues to be active in the Delta states, while Midwest harvest progress is just starting. It is expected that a chunk of corn harvest will get done before many beans get cut.
For the weekly ethanol production report today, production is expected at 1.105 mln. barrels per day, which is down 5 mln. b/d from last week. Ethanol stocks are expected at 25.123 m bbl., which would be up from 25.035 m bbl. last week. The ethanol report was delayed one day due to Monday’s holiday. The export sales report, normally released on Thursday, will be released tomorrow.
For tomorrow’s crop report, the trade is expecting the corn yield to be cut to 178.1, which would be down from 180.2 bpa in August. The estimate for corn production is 15.777 bbu., which would be down nearly 200 mbu. from last month. The average estimate for the bean yield is 52.4 bpa, which is down from 52.7 bpa. That would place bean production at 4.492 bbu., down 27 mbu. from last month. The trade will be closely watching to see what happens with harvested acres as there is a possibility that acres get adjusted again this month.
Corn ending stocks for 26/27 are expected to fall to 1.511 bbu., based on a survey of analysts. This would be down 142 mbu. from last month. Bean ending stocks are expected at 290 mbu., down 30 mbu. from August. Wheat ending stocks are expected at 718 mbu., basically unchanged from last month.
At the Republican Party’s first-ever midterm convention last night, President Trump proposed to pay every U.S. adult $5,000 if the Republican party wins the November congressional elections.
Have a great day.
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