October 13, 2026

Mid-Co Morning Comments:
 

• Grain markets are mixed to start the session with corn slightly higher and soybeans off a few cents. Nearby spreads are a touch firmer this morning with CZ/CH trading in to -13 ¾ . Energy markets are mostly weaker with Nov WTI Crude down about $1/barrel and trading near $92.60/barrel.
• Yesterday saw a good chunk of soybean hedging as producers priced out overrun bushels. Some central IL producers have wrapped up beans and switched back to corn, with moisture running 15%-16% in spots. Rain and cooler temperatures move in tonight with lows dipping into the upper 30s by Friday.
• Basis was mixed yesterday with eastern values mostly steady while western bids weakened as harvest gains momentum. Nearby river bean bids have eroded as some southern locations have been forced to move beans due to limited space. China has been absent from the U.S. soybean market for roughly 10 days, with private estimates putting purchases near 15 MMT of its 25 MMT commitment.
• Black Sea tensions remain elevated after a vessel was struck off the coast of Bulgaria. Skepticism is growing over Russia’s commitment to the energy ceasefire with Ukraine amid reports of violations. Meanwhile, Iran says it is still reviewing the U.S. response to its proposal to reopen the Strait of Hormuz.
• Reminder: Crop Progress and Export Inspections will be released today following yesterday’s federal holiday.