Thursday, February 19, 2026
Closing Markets: Corn: -1.25 old & +0.50 new.
Beans: +7.50 old & +1.75 new. Wheat: +12.50.
PLEASE JOIN US FOR OUR 2026 FOCUS MEETINGS!!
Tuesday, March 3rd at the Knights of Columbus in Lincoln with breakfast at 8:00am and meeting to follow.
Tuesday, March 3rd at the Monticello Community Building in Monticello with lunch at 12:00pm and meeting to follow.
Topflight Grain is offering Free PL on soybeans to all full-time locations except Maroa based on space availability good through August 31, 2026.
We are also offering Free PL on corn delivered to Pierson and Milmine based on space availability good thru August 31, 2026.
Good evening!
Market Recap-
The first look at new crop balance sheets from the USDA earlier today didn't end up having a lot of impact on market pricing throughout the day, as values again closed mixed. Like yesterday, wheat and bean oil were the clear cut upside leaders, while corn finished the day mixed and soybeans were varying degrees of higher.
Corn Summary-
Corn futures were quiet for a second consecutive day on Thursday, with values closing on either side of unchanged in not a whole lot of volume. This morning's USDA numbers weren't necessarily expected to move markets a whole lot, but amid a lack of fresh news otherwise, traders were hopeful there was going to be something to chew on in the data. From here, it will now be the March perspective plantings report in another month or so that gives the next update on this topic, with it being crop prospects and weather in South America that drives things in the meantime.
Soybean Summary-
Soybean futures closed higher on Thursday, but saw better gains in the spot than months than in the back as new crop futures were under more pressure via new crop balance sheets that weren't overly bullish. The bump in bean oil use for biodiesel is somewhat surprising given pace through the first quarter of the marketing year is well behind last year, but like with the discussion on RVOs and that whole situation, until some sort of legislation is finalized, an argument can be made for really any outcome whether bullish or bearish. South America's giant crop is going to have an impact on exports, which is why there has been such a high level of focus on domestic demand prospects and more specifically, biofuels.
Wheat Summary-
Wheat futures just keep chugging along, with the market in Chicago finishing higher on Thursday and at its best level in some three months as speculative buying and short covering continue to drive price action. Like we've talked about all week, there really isn't a specific fundamental reason for the buying. Yes, there are concerns over cold weather in the Black Sea region and yes there are concerns over dryness in the US wheat belt, but wheat crops are made in April and May and it’s just impossible to say right now whether there will or won't be crop issues based on current weather conditions.
Outside News Headlines-
Crude oil futures up $1.30+/bbl.
Weather Updates-
Storms are working across the central Midwest this afternoon and into the evening tonight, with tornados and strong winds possible through the area. This system, which will put down some measurable snowfall on the backside, will continue spinning through the northern Midwest and the Great Lakes tonight into tomorrow and then will work through the northeast Friday night into Saturday.
Warmer air will linger through the eastern US and East Coast for one more day tomorrow, but then the models are still in good agreement on cooler air working into the region by the weekend and first part of next week.
Extended forecasts are drier through the southwestern US in the week two period this afternoon but continue to show wetter than normal conditions likely through the eastern US. Temperatures in the period are still seen warm across most all of the US, but the warmest temps relative to normal look to focus on the south and southwestern US into Mexico.
There continues to be little of note with the forecast in South America, as if anything, today's updates trended more friendly via being slightly drier into the end of next week through central Brazil. Ongoing rains across Argentina will continue to limit stress here, with there no signs of a return to dryness at any point in the next two weeks.
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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