August 17, 2026

Mid-Co Morning Comments:
 

• Good morning. Corn and soybean markets are stronger this morning while wheat is lower. Spreads are mostly steady to firmer. Energy prices are also higher on reports that President Trump is prepared to impose harsher economic sanctions on Iran.
• Crazy weather across Central Illinois over the weekend with widespread flooding and storm damage. We’ve had around 8.5 inches of rain over the last five days and close to 12 inches for the month of August. Thursday evening’s straight-line winds also left some corn blown over and twisted up, mainly south of Bloomington. The big question is how much the excessive moisture and wind damage will impact yield potential. I think it certainly takes some of the top end off, especially across the flat, black dirt that has been sitting in water. Temperatures are expected to run below average this week with overnight lows in the 60s.
• The Pro Farmer Crop Tour kicks off today with scouts starting in South Dakota and Ohio. Daily results will be released throughout the week, and traders will be watching closely to see how field observations compare with the USDA’s current estimates of 180.7 bpa on corn and 52.7 bpa on soybeans.
• Russian and Ukrainian grain exports continue to struggle as attacks in the Black Sea remain ongoing. Grain exports through the Sea of Azov are currently shut down, with shipments projected to decline at least 50% and no framework for peace in place. Ukrainian corn exports could also be impacted if the fighting and shipping disruptions continue.