April 7, 2026

Mid-Co Morning Comments:

• Grain markets are quiet this morning as geopolitical headlines continue to drive the narrative. Soybean spreads are slightly firmer while corn spreads are mixed.
• President Trump’s deadline for Iran to reach a deal is tonight at 7pm CT. He has indicated that a significant military response is likely if no agreement is made. Reports suggest Israeli forces are preparing to target Kharg Island, along with key rail and transportation infrastructure.
• Crude oil futures pushed to new highs overnight, with May WTI reaching $116.56/barrel. Corn futures continue to trade independently from the strength in energy markets.
• Crop progress reports resumed yesterday, showing U.S. corn planting at 3% complete. Louisiana is well ahead at 88%, while Missouri sits at 8%. Wheat condition ratings came in notably below year-ago levels.
• Reminder: The April WASDE and Crop Production report will be released Thursday, April 9th. Average trade estimates have corn ending stocks at 2.131 billion bushels and soybeans at 349 million bushels.