Monday, March 23, 2026
Closing Markets: Corn: -6 old & -4.25 new.
Beans: +2.25 old & +5.50 new. Wheat: -7.50 old & -7.25 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-
Monday ag trade was two sided to get the new week started, with the grains and meal finishing the day lower and the beans and bean oil finishing the day higher amid heavy selling in the energy space. Each new headline out of the Middle East seemingly produces more questions than answers regarding the ongoing conflict and until this ends, we expect wide-ranging, back and forth ag trade to continue.


Corn Summary-
Despite steady export data during the morning hours, corn futures fell to notable losses on Monday as a sell-off in the crude oil market found its way into corn futures late in the overnight session this morning and stayed there for the rest of the day. With there still being little new in the market from a fundamental standpoint for another week or so aside from weather, computers and algorithms have been locked in on Middle East headlines, which we view as mostly responsible for the influx of new money into the space, and therefore the subsequent rally as well. Given current price levels and the risk at hand, we would see there being more downside risk than upside, but this analysis goes out the door if crude makes a return visit to the $100+/bbl mark. It won't last forever, but grain prices remain tied to energy prices for the time being.

Soybean Summary-
Mixed trade in the soy complex to get the week started on Monday today, with meal trading lower along with the grains while the beans and oil were able to trade marginally higher on the Zeldin comments that the EPA was still planning to announce the RVO before the final day of the month next Tuesday. Amid rising fertilizer costs that most feel will, if anything, influence a small shift to more soybean acres, it’s the demand buckets of biofuels and exports to China that are being most closely watched as ways to keep ending stocks from ballooning to more burdensome levels should the growing season see normal weather this summer and fall. The other market influence through spring and into summer will likely be fund activity, as near-record length across the complex has left the group with plenty of selling power; we see their covering and the extraction of RVO/China premium as likely being interconnected.

Wheat Summary-
Wheat futures helped lead the space lower on Monday, as forecasts of moisture for the southern plains next week fueled what became more chart-based selling as the day went on. Daytime highs some 20-30 degrees above normal across a lot of the area have raised crop concerns, but coming rains next week look to alleviate those worries, which was likely at least part of the reason for today's pressure. Otherwise, seasonals are also lower from here into the start of harvest in early summer without some sort of weather issue, and the March low at 5.64 1/2 is our first target on the charts.

Outside News Headlines-
Crude oil futures down $10.00/bbl.

Weather Updates-
Weather models are in good agreement on generally dry conditions across the Midwest this week, with this afternoon's runs seeing light rainfall possible for the far eastern part of the region the end of the week but seeing mostly dry conditions elsewhere.
Temperatures will be more variable, with cooler air for most early in the week, then a Wednesday/Thursday warm up again, then another cool off expected into the weekend. High pressure in the southwest generally continues to dominate the pattern, but there appear to be more frequent bouts of cold intrusions the next week to 10 days than there were last week.
Extended range forecasts don't have this pattern holding on forever though, as precip anomaly maps for week two over the weekend trended noticeably wetter throughout most all the US, especially through the central plains. Agreement in the models has our confidence in this pattern shift high, but the moisture will need to get pulled into the short term by the end of the week this week.
High pressure shifting east into the first part of April looks to bring some of the warmer temperatures across the US with it, as both models have much of the country continuing to stay warm in the period, though it’s the far West Coast now that stays more closer to average than the East Coast.
Following several good days of rains last week, Argentina looks to be on the drier side for a few days now this week which should allow for early corn harvest to progress. Brazil sees little change, meanwhile, with models showing ongoing rainfall through most of the country this week, though totals to the south and southwest will be a little spottier and variable.


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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