October 27, 2026

Mid-Co Morning Comments:

• Grain markets are mixed this morning with soybeans higher while corn is lower. Soybean spreads are on a tear with SX/SF moving into single digits, currently trading near -9 ¾. Corn spreads are quiet with CZ/CH holding in a tight range around -14.
• Yesterday’s crop progress report showed another big week of harvest with corn jumping 16 points to 60% complete and soybeans reaching 79%. Despite harvest winding down in some areas, producer selling has been limited as lower futures keep farmers on the sidelines.
• Corn and soybean basis firmed in spots yesterday as harvest wraps up in some areas. Incobrasa in Gilman, IL bumped nearby bean bids to +25X while ADM Decatur improved a nickel. CIF and river values were quiet, although solid bids and trades are still being reported along the Illinois River and in St. Louis. ADM appears to be leading the charge with stronger river bids but, from what I’ve heard, still won’t guarantee SBOC discount schedules.
• Brazilian soybean basis took a beating yesterday following the election news, while soybean futures slipped to two-month lows. Meanwhile, SX/SF spreads are ripping higher ahead of November first notice day. Please reach out with any questions regarding your SX26 positions.