Monday, March 9, 2026
Closing Markets: Corn: -6.75 old & -2.75 new.
Beans: -4.50 old & +1.50 new. Wheat: -13.50.

Topflight Grain is offering Free DP on soybeans to all full-time locations except Maroa based on space availability good through August 31, 2026.

We are also offering Free DP on corn delivered to Pierson and Milmine based on space availability good through August 31, 2026.


Good evening!

Market Recap-
The volatility seen throughout the ag space last week does not appear to have gone anywhere, as Monday trade at the CBOT got the new week off to a choppy start before prices finished the day mostly in the red. Corn futures traded roughly 20-cent ranges throughout the course of the day, while the bean and wheat markets traded roughly 40-cent ranges, the meal market traded an $8 range, and the bean oil market traded a nearly 4 cent range. We talked about it going into the weekend on Friday, but until more is known regarding the situation in Iran and the impact its going to have on world energy values, it’s just simply difficult to predict which way ag prices will swing on a daily basis; from a fundamental standpoint, we feel markets are probably overvalued at today's highs, but can't rule out a further move to the upside based on money flows and momentum.

Corn Summary-
Corn futures finished what was an extremely volatile session lower on Monday after trading to their highest level since last spring earlier in the session. Like most of the week last week, market-specific fundamentals have largely gone by the wayside to some extent as it comes to price discovery, as the war in Iran and its effect on world energy values continues to be the main factor in the corn market. However, whatever the rally is based on, it has provided farmers who are generally still undersold on old crop an opportunity to price bushels, and has also offered an opportunity to begin pricing new crop sales, which according to cash sources, many have taken advantage of. Underlying fundamentals remain mostly neutral, which has us thinking a correction could occur at some point once the hysteria surrounding Iran settles down a bit.

Soybean Summary-
Soybeans also saw a reversal day lower to start the week on Monday, as both the beans and the oil jumped out to new highs this morning on strength in the crude oil market before flipping direction and working back lower throughout most of the morning and into the afternoon. Like we talked about with corn, there isn't a lot going on here that has to do with market fundamentals; the complex is being led almost entirely by bean oil, which in turn, is being led almost entirely by crude oil. We will get a brief reprieve from this tomorrow in the way of monthly USDA data, but with no changes of note expected for the most part, we would assume it’s this energy-based trading that likely continues driving prices throughout the week. The other background factor that will provide ongoing headline risk the rest of the month is the Trump-Xi meeting that now appears to be on shaky footing; should anything develop here, it will also impact prices.

Wheat Summary-
Wheat futures were on the same roller coaster Monday as the rest of the ag space, with an overnight rally to new highs for the move stalling and failing at mid-morning, sending prices lower into the close on seemingly little in the way of new fundamental news. And even if there were new news, we're not entirely sure how much an impact it would've had amid the broader macro sentiment that is currently guiding the ag space. Grain price valuation is currently all about global energy values, and wheat is no exception to this.

Outside News Headlines-
Crude oil futures down $5.50+/bbl.

Weather Updates-
Models are in good agreement forecast-wise for the Midwest this week, with both showing rain/storm activity returning to the area Tuesday/Wednesday/Thursday. Totals through the end of the day on Friday look to range from 0.5"-1.5" generally speaking, with the heaviest accumulation expected through the southern part of the region and into the Mississippi Delta region.
Warmest temperatures through the Midwest this week will be seen today and tomorrow, but the pattern even into the end of the week stays generally warmer-than-normal save for some colder air on the back side of the storm systems mentioned previously. Warmth returns to the central US by Thursday and spreads across the south and southwest into the weekend.
Forecasts change then beyond the end of this week, as extended forecasts show another shot of cooler arctic air pushing into the eastern US for a few days while the west stays warm. This cold looks to be short lived though as warmth returns via a western US ridge working its way into the central part of the country into the end of the month.
As this ridge moves east, precip forecasts into the end of the month are also getting progressively drier for most all but the northeast, with both the GFS and EU forecast for the period in good agreement on this outlook this afternoon.
Weather in South America this week looks to be generally similar to what was seen last week, with this afternoon's forecasts for the next five days showing additional mostly light rainfall across the western and southern areas of Argentina and ongoing near-daily rainfall across most all of Brazil. North-central Brazil will be maybe a touch drier than last week but just marginally at best, while southern Brazil and a pocket in the far eastern part of the country look to be the only real areas of dryness.



Enjoy it!


Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
Image ... See MoreSee Less