April 1, 2026

Mid-Co Morning Comments:

• Good morning and happy April Fool’s Day. Grain markets are under pressure this morning, giving back most of yesterday’s gains. Corn and soybean spreads are generally wider. Energy markets are softer as rumors of de-escalation in Iran circulate, with crude oil futures slipping back below $100/barrel.
• Yesterday’s USDA reports were relatively uneventful from a market reaction standpoint. Corn acreage came in above expectations, while corn stocks were slightly tighter than anticipated. The data also highlighted notable acreage shifts out of corn and into soybeans across the Delta and Western Corn Belt.
• Nearby basis has been mostly steady this week, with some terminals rolling to April bids and improving a few cents. May corn continues to trade slightly under delivery levels, while May soybeans are holding roughly 20 cents below delivery.
• Central IL is receiving some solid moisture totals this morning with around an inch of rain in the gauge already. My family’s farm had about 6 or 7 inches of rain for March, which was very welcomed heading into Spring.
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