Tuesday, February 10, 2026
Closing Markets: Corn: +0 old & +1 new.
Beans: +11.75 old & +10.75 new. Wheat: -0.50.
All TFG locations will be closed Monday, February 16th for Presidents’ Day!
Topflight Grain is offering Free PL on soybeans to all full-time locations except Maroa based on space availability good through August 31, 2026.

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


Good evening!

Market Recap-
Today's WASDE update was mostly a non-event for the corn market; the only change on the US balance sheet was a 100 mil bu increase in exports, which led to a 100 mil bu decrease in ending stocks, while world stocks were down just slightly from last month to 288.98 MMTs. Production estimates were unchanged for both Brazil and Argentina at 131.0 MMTs and 53.0 MMTs, respectively.

Corn Summary-
Corn futures were quietly higher on Tuesday as the USDA's February WASDE update was expectedly a non-event and as other new news was mostly absent throughout the day. The 100 mil bu increase in corn exports is mostly justified given pace analysis through the first half of the marketing year, but we would note that the figure now requires rather lofty weekly inspection figures the rest of the marketing year to be accurate, which has been the question all winter. Exports typically peak around May or June, but traders are questioning if the record level business from earlier in the year causes this top to occur sooner than normal. Either way, with feed and residual use seemingly still too high, the USDA is running out of demand buckets to fill higher to keep ending stocks closer to the 2.0 bil bu level than the 2.5 bil bu level.

Soybean Summary-
Soybean futures saw pre-report buying throughout most of the overnight session and into the morning hours, before seeing the report give little in the way of notable numbers which led to markets closing mostly where they were before the numbers were released. The USDA pretty much kicked the can down the road on demand figures both in terms of exports and biofuels/crush, which means the market is likely now back to the daily debate of over supply in South America vs Chinese demand in the US that is still very much up in the air. We've said it before and we'll say it again, in our opinion its the supply side of this situation that will win out in the long run, as rarely do bigger picture price moves start with changes in demand.

Wheat Summary-
Like the rest of the space, the February WASDE report was a non-event for the wheat market, with there being little if anything of note in the data that had any impact on preexisting market fundamentals. World supplies are plentiful and nothing in today's reports is going to change that. Whether world trade estimates are accurate based on exports out of Russia and the EU to this point in the season could be argued, but minor adjustments here also don't change the overall situation.

Outside News Headlines-
Crude oil futures down $0.30+/bbl.

Weather Updates-
Weather through the Corn Belt looks to continue to be mostly warm and dry through the rest of the week, with models still in good agreement this afternoon on moisture staying south of the Ohio River generally through the weekend and into next week before better rain chances show back up further north the back half of next week. Temperatures, while maybe not at record levels seen the past couple days, look to stay warmer than normal at least into next week also.
Extended forecasts into the back part of February are again little changed from yesterday, with precip maps showing improving good moisture chances across the northern part of the US and Canada, while the southern US and southeast see a drier shift following rains the next week-10 days. 10-15 day temperature outlooks are also little changed this afternoon, and are holding with the warm east/cool west pattern that is generally in place now for another 10-15 days.
Argentina will be drier for a couple days now following moisture over the weekend and the back half of next week, but heat is absent and the models still see rains showing back up again for most of the country by this weekend/early next week. 10-day precip through the heart of the country's growing regions is seen ranging from 1-2" with some locally heavier amounts possible, which should be nearly ideal.
Meanwhile for Brazil, forecasts here are also trying to trend drier through the southwestern part of the country, which if accurate, should allow for an increase in harvest progress for soybeans and planting progress for safrinha corn. Moisture still looks to be present further north and east, but the signs of a shift in the pattern are welcome.




Enjoy it!


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