April 10, 2026

Mid-Co Morning Comments:

• Grain markets are mixed this morning. Spreads are mostly firmer with CK/CN back in to -10 ½ after trading out to -11 yesterday. Soybean spreads are also slightly firmer, with new crop spreads tightening.
• Basis firmed again yesterday with CIF corn and soybeans edging higher and several river terminals strengthening bids. April CIF corn is now bid +91K, while April CIF soybeans are up 12c week-over-week at +90K.
• U.S. Treasury Secretary Jameison Greer is meeting with Chinese officials today ahead of the planned Trump/Xi meeting next month. No major developments are expected from today’s discussions, but framework of the meeting is the main focus.
• Forecasted rain totals have pulled back across much of the Corn Belt over the next 7–10 days. Some early soybean planting was reported in central and southern Illinois yesterday, though activity will likely pause with showers moving through this morning. There were some rains reported in the western plains which will help the wheat crop but has futures lower.
• U.S.–Iran talks are set for this weekend in Islamabad, though tensions remain. President Trump struck a cautiously optimistic tone but warned Iran over tanker fees and energy flow issues. Meanwhile, the U.S. is urging Israel to scale back strikes in Lebanon, as escalation could jeopardize negotiations.
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