October 15, 2026

Mid-Co Morning Comments:
 

• Good morning.  Grain prices are mixed again as the boring market continues.  Beans had gotten a lift this week on renewed China buying, but once the buying was announced, the bean futures faded.  Classic action.   The corn chart continues to be tight with something needing to give either under the 200-day or over the 100-day.   The RSI is holding around 32 so that may limit some downside in the short term.  Still a lot of corn harvest to go though.  Rain is moving across the Midwest again today, which will slow bean harvest once again.  Temps will cool down for tomorrow and the weekend with high winds making it feel more like winter.  Next week does warm up again, with rain chances possible late next week.  Ethanol numbers are out today as I was off a day due to the holiday.  Export sales are out tomorrow.   NOPA crush for September will be out today.   Conab was out with Brazil production numbers this morning, which included the 2027 estimates.  They have the bean crop for next year at 181.6 MMT, with planted area up to another new record.   The USDA is at 186.   Corn was estimated at 148 MMT with the 2^nd crop at 113.3 MMT.   The USDA is at 139 for Brazil corn.  The Brazil 2^nd election for President still looms on October 25^th.   Ukraine resumed strikes on Russian oil assets overnight as President Zelenskiy said Ukraine was “done” supporting a ceasefire on energy targets.  Has the makings of another quiet session.  Have a safe day.