September 11, 2026

Mid-Co Morning Comments:
 

• Happy Friday and Happy WASDE Day! 
   
• Grain markets are lower as we head into the September WASDE. Most are expecting a drop in corn yield, while beans aren't expecting to see many fireworks. 
• The SX/SF seasonally bottoms out over the next week and then firms into harvest. If still needing to roll a portion of your shorts forward, target -15 or better with plans to get more aggressive if we hit -16 on the SX/SF.
• Weekly drought monitor data released Thursday showed 25% of the U.S. corn area experiencing some form of drought, down 3% from the prior week, while 27% of the soybean area is experiencing drought conditions, also down 3% from last week. Both figures are up from 13% and 22%, respectively, at this time last year.
• Barge shipments on the Mississippi River for the week ending September 5, according to the USDA, were down 33% from the previous week overall. Soybean shipments are down 45% and corn barge movement is down 26% compared to last week.
• The Buenos Aires Grain Exchange has old crop corn harvest at 97% complete. New crop corn planting is sitting at 6% complete.
• Barge drafts continue to see reductions, pushing freight higher. Recent rains however and the 6-10 day precipitation outlook should start to support river levels.   
• Outside markets are trading mixed: nearby crude oil futures are down $2.50+/bbl, the Dow Jones index is up 480-490 points, and the U.S. dollar index is up 5-10 points.
• Today's reports include Weekly Export Sales, September WASDE, and CFTC Commitment of Traders.
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