April 17, 2026

Mid-Co Morning Comments:

• Markets are mostly lower to start Friday, with corn and wheat slightly lower and soybeans down around a nickel. Planting progress remains uneven across the Midwest, and CK/CN tightened to -8 ½ overnight. Crude oil is roughly $5 lower, trading near $90/barrel.
• Basis was mostly quiet yesterday. Soybean processor basis firmed slightly in the West as crush margins continue to improve, with nearby board crush margins pushing to new contract highs near $3.31/bushel.
• Wheat futures are finding support from ongoing drought concerns in the Western Plains. KC wheat is nearing recent highs, while Chicago wheat holds above key moving averages despite some rain entering the forecast.
• Forecasts call for scattered Midwest rains over the next week, with heavier totals in Missouri and eastern Kansas. Cooler weather and storm potential are expected to move in over the weekend.
• CIF bids remain strong for April, with corn at +96K. River basis is competitive with solid terminal demand for April/May, while soybeans have also strengthened—May CIF bids now +95K, up 12 cents from the start of the month.