Tuesday, April 14, 2026
Closing Markets: Corn: +2.75 old & -0.50 new.
Beans: -4.25 old & -5.75 new. Wheat: +9.75 old & +10 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-
Our ag space finished the day mixed. Wheat futures led the way, closing 10-11 cents higher in Chicago while KC wheat finished the day 19-22 cents higher. Dry weather concerns and a drop in HRWW crop ratings offered support. Corn futures finished the day mixed with bull-spreading being the common theme. Soybeans closed 6-7 cents lower while meal and oil closed lower as well. Crude oil was under moderate pressure with nearby WTI slipping back below the 200-day moving average as the ceasefire between the US and Iran seems to be holding and there has been some positive news suggesting the two sides are open for more discussion. Talks between Israeli and Lebanese officials concluded today. At last glance, nearby WTI was trading near 91.15 and the lows for the day, while the equity markets rallied, the dollar dropped to a 6-week low and gold futures bounced $90.00.
Corn Summary-
Corn futures ended the day mixed with the nearby May futures showing an inside day on the daily chart. Over the past 3 session, CK26 has found overhead resistance at the 200-day moving average (446.50) with nearby support building near 4.40. Nearby corn spreads are showing seasonal strength as we inch closer to First Notice Day for May futures at the end of the month. CK/CN finished the day at -9.50, up 1.25 cents for the day and its highest close in 5 weeks. Cash interest by the producer remains almost nonexistent following the 25+ cent drop in futures over the past few weeks. Interior bids continue to firm to the processor while export demand remains supportive at the Gulf and PNW.
Soybean Summary-
Soybean futures have been under a fair amount of pressure after failing to hold fresh highs on Monday before reversing lower on spillover pressure stemming from crude oil. Technically, SK26 scored its first close below the 50-day moving average since the first few days of February. Export demand remains lackluster as South America remains the cheaper source. May and June soybeans CNF China at a $1.30 - $1.45 discount sourced Argentina versus the US Gulf. Likewise, Brazilian soybeans CNF to China at a similar discount to NOLA for July. Domestically, crush margins remain strong, and the producer is 50+ cents away from wanting to make any new cash sales at this point. Processor bids continue to slowly improve.
Wheat Summary-
KC wheat futures have rallied 30+ cents in the past two sessions as dry conditions take its toll on production. Yesterday afternoon's Crop Progress report showed a 1% decline in ratings, with the trade expecting to see a slight improvement. The first weather rally of the year stems from drought conditions in the US Western Plains.
Outside News Headlines-
Crude oil futures down $6.90+/bbl.
Weather Updates-
The warm, active pattern continues this week with temperatures running well above normal. Multiple waves of low pressure will impact the Central US with additional precipitation and mutli-day risks for severe weather through the end of the week. Locally heavy rain is also possible with the potential for more than 2 inches over the next 5 days.
A drier and cooler pattern is expected to evolve into the final days of April. The pattern is expected to increase rainfall chances for the W plains while also increasing rain chances for the Delta.
Wet conditions persist across northern Brazil while drier and warmer conditions develop across Mato Grosso and Goais. Dry conditions could stress parts of the safrinha corn crop. The pattern turns wetter across far southern Brazil and into Argentina. Beneficial rains are expected to improve soil conditions, especially the central and eastern growing regions of Argentina.
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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