Thursday, April 9, 2026
Closing Markets: Corn: -3.25 old & -1.75 new.
Beans: +3.25 old & +0.50 new. Wheat: -5.75 old & -6.25 new.
Topflight Grain is offering Free DP on soybeans to all full-time locations except Maroa based on space availability good through August 31, 2026.

We are also offering Free DP on corn delivered to Pierson and Milmine based on space availability good through August 31, 2026.

Good evening!

Market Recap-
Today's April WASDE update had little for the trade to chew on, as numbers were largely as expected and similar to those seen last month. Thus, markets saw relatively directionless closes, with corn and beans near unchanged in either direction while the wheat market resumed its downward slide.

Corn Summary-
Corn futures closed lower Thursday following what was an expectedly dull April WASDE update, though the front months were down harder than the deferred. We touched on it above, but the USDA made no balance sheet changes of any kind, which left ending stocks to remain comfortably above the 2.0 bil bu mark. This will remain true for the beans and wheat also, but its the May WASDE and the first look at the 2026/27 balance sheet that traders are concerned with as far as supply demand goes at this point. Otherwise, its planting progress that will get the bulk of the fundamental attention in the short term, while prices will also likely continue to see influence from ongoing happenings in the Middle East.

Soybean Summary-
It was a quieter day in the soy complex on Thursday, with all three members of the group finishing quietly higher on limited new news. Bean oil largely remains the leader of the group, but didn't follow as closely with crude oil on Thursday amid a larger upward correction there though crush margins remain strong. But there's just not a lot new otherwise with the funds long and mostly uninterested in changing their position much until either more is known on acres or exports to China later this summer. An ending stocks figure north of 5 mil bu is notably different than one south of 3 mil bu, and this will likely determine how funds position through the growing season.

Wheat Summary-
The wheat market traded lower with corn on Thursday, as a somewhat surprising jump in world ending stocks led to selling throughout the back half of the morning and into the afternoon. News here was quiet otherwise, with little in the way of new Iran headlines producing a somewhat less volatile day than has been lately.

Outside News Headlines-
Crude oil futures up $5.00+/bbl.

Weather Updates-
Light rains across the western and north-central parts of the Corn Belt will be the main forecast feature the next 24 hours, with the GFS seeing slightly lower totals compared to the EU model but both being in decent agreement on timing/location. The models then see additional rains in the same corridor again towards the end of the weekend on Sunday and into the first part of next week, as ridge-runners from the southwest look to stay active.
Extended range temperature forecasts trended warmer overnight, but the weather outlook into the back half of the month remains largely unchanged from previous runs as models are sticking with wetter conditions continuing to surround the high pressure aloft in the southeast. Notable is an ongoing dry pocket in the southern and central Plains in the period, which has been one of the main areas of focus over the last 10 days as drought conditions remain firmly in place.
Forecasts remain dry for Argentina through the weekend and into next week, with there being little to no rainfall in the forecast between now and the end of the day on Sunday. For Brazil, things also look drier into next week, with rains mostly confined to the north aside from smaller pockets of moisture in the southwest.

Enjoy it!


Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
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