September 18, 2026

Mid-Co Morning Comments:
 

• Good morning.  Grain prices are mostly lower as the harvest pace begins to pick up.   The bean longs are taking a little risk off the table ahead of the pre-meeting with the U.S. and China this weekend.  The summit is still expected to happen next week, but the pre-meeting may have some bearing on the topics and the mood.  Corn closed under the 20-day moving average yesterday ($5.32 ¼ today), with the next support near the recent lows of $5.25.  There is an open chart gap on December corn down to $5.09 that would be a target if this line of support does not hold.  Crude is mostly lower and is working on a 3^rd straight of a lower close.  Refinery issues are pushing diesel prices even higher in the Midwest. No real change in the Black Sea region as most Russian attacks have been paused for elections this weekend. There is a fear that attacks from the Russian side began in earnest again once the elections conclude.  Rain is moving through Iowa and Minnesota again this morning.  Rain chances will move through Illinois, Indiana, and Ohio this weekend.  Temps are cooler next week.  The extended forecast is drier for the Midwest.  These rains are helping most river levels for now, but low water conditions are expected to be a concern into the fall.  The cattle on feed report is this afternoon.  Placements are expected at 96.7% of a year ago.  The commitment of traders’ report is out this afternoon, with eyes on if the bean fund is a new record.  While rain is around this weekend, we could see a little harvest pressure on prices near the close today.  News around the China visit and any changes in either war will set the tone for the Sunday night trade.  Breaks have continued to be supported since the August crop report, so we will see if that can be maintained during harvest.  Have a safe day.