March 20, 2026

Mid-Co Morning Comments:
 

• Happy first day of spring, Grain markets are mixed with soybeans showing gains while wheat and corn are lower. Crude oil is lower and trading near $94/barrel. Casey’s in town Bloomington had gas for $3.99/gallon yesterday.
• SK/SN made new lows yesterday at -15 1/2 with around 3,200 contracts trading at that level before finishing the session at -14 3/4. Corn spreads are firmer with -10 CK/CN trading overnight in small volumes.
• The Trump administration is reportedly considering blockading or occupying Iran’s Kharg Island to pressure a reopening of the Strait of Hormuz, a move that would directly target oil exports and heighten risks of broader conflict and further volatility in global energy markets.
• Barge freight and CIF values strengthened yesterday, with March/April river terminal bids improving for both corn and soybeans. Processor basis for corn and soybeans was mostly steady.