April 28, 2026

Mid-Co Morning Comments:
 

• Grain markets are mixed this morning, with Dec ’26 corn pushing to an overnight high of $4.94 ¼—its highest level in roughly a month. Crude oil futures are back near $100/barrel amid renewed negative headlines out of Iran. Wheat futures are firmer as precipitation chances continue to fade across the Plains.
• CK/CN widened to –9 ¾ overnight, clearing out resting orders at –9 and –9 ½. The price ladder shows roughly 11,000 contracts currently bid at –10. SK/SN is even at -14 ¾ while deferred soybean spreads are weaker.
• Basis was mostly steady yesterday. Some soybean processors have begun rolling bids to the SN, with slight improvement noted. Crush margins continue to push higher, with nearby board crush margins now above $3.50/bushel.
• A large storm system moved through Illinois and Missouri yesterday, bringing around 2 inches of rain locally. Fieldwork will likely be paused for a few days, with cooler temperatures and limited sunshine expected to slow the drying process in the near term.