August 5, 2026

Mid-Co Morning Comments:
 

• Good morning.  Corn and bean prices are lower on more rain slated for the heart of the cornbelt and a big yield estimate to start off the private slew of opinions ahead of the August 12^th crop report.  Areas from Illinois and east will see sizable rain chances through the rest of the week and weekend.  There is a good cell of rain moving through Iowa this morning.   The far west and northwest growing areas are expected to be on the light side again.  The extended forecast remains warm and wet.  StoneX put the corn yield at 184.8 bpa, which would be down 1.7 bpa from last year but would still be the 2^nd highest on record.  IL was put at 212, Iowa at 218, and Minnesota at 206.  Beans were estimated at 53.0 bpa, which would be on par with last year.   The estimates seem a bit high but there will be good areas.  I did drive through eastern Iowa last week and it looks very good.  As a side note, there is a good chance that last year’s corn yield will come down in the September update.  More private estimates will be out in the coming days.  President Trump says a deal on the Strait of Hormuz is likely either today or tomorrow.  Crude is flat in its price action this morning.  Wheat is higher this morning as the Black Sea conflict continues.  The weekly ethanol report is out this morning.  Dec corn is still holding above the 50-day moving average ($4.58 ¾) for now.  November beans are right on support at the 100-day ($11.70) so today’s close could be important.  The weather is good enough to keep a lid on big rally attempts.  The seasonals show a sideways pattern in corn during August and a higher pattern in beans.  Have a safe day.