Ludlow Coop Elevator Company

08/06/2026

8/6/26 MIDCO AFTERNOON COMMENTS

🌽 Corn Market Update
Corn futures had a small range today - just a bit more than a nickel in the CZ26. Futures seems to be trying to figure out if they want to break out lower or try to move higher again. We might not get much of a move ahead of next week's WASDE. Export sales data was solid for corn although now 2026/27 is now trailing last year's pace a little bit. More firms have released yield estimates for this year's crop. S&P Global pegs corn yield at 182 bu/acre; AgResource pegs corn at 181.4 bu/ace. This versus the 183 estimate in the July WASDE.

🌱 Soybean Market Update
Soybean exports are in a good spot right now. The new crop pace is well ahead of last year, and we are seeing good activity of China buying US beans. We still have a long way to go with China but the movement is in the right direction. Markets did very little in the soybean complex today. Beans and the products were little changed. That translated into crush margins staying much the same as well.

🌾 Wheat Market Update
Wheat futures gave back all of yesterday's and then some, but did settle off the lows. Futures are trading around the 200-day moving average of 6.49 3/4 for WZ26. The July export estimates out of Russia show the impact the fighting in July between the two nations has had. A lot of risk still remains in Eastern Europe. Wheat harvest up in Canada is entering the home stretch with reports of good yields in Ontario.

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08/06/2026

8/6/26 MIDCO MORNING COMMENTS

Good morning. Grain prices have been mixed overnight as the trade awaits fresh news. Rain is moving through Misouri and southern Illinois this morning. Sizable rains are slated from Iowa through Ohio over the next few days. Temps will be warm, but rain chances will be plentiful. Export sales are out this morning. The two conflicts continue to be in the news cycle, but grains have become more numb to the daily changes. There is talk that a Strait deal is close, but it may not involve the U.S. Concerns about shipping disruptions in the Black Sea remain high. Crude is up $1.00 this morning. China was in buying a few more U.S. beans yesterday. China sold 67% of its 501K ton bean auction yesterday. They continue to auction off old beans to make room for the new U.S. supply. AgResource put the 2026 corn yield at 181.4 bpa with total production at 15.918 bbu. Private estimates will continue to come out ahead of the August 12th report. Reminder that the August yield number is based on farmer survey and satellite data. The September yield data will incorporate field measurements. The Senate Ag Committee will start its mark-up of its Farm Bill version today. Their version includes year-around E15. Support for December corn today comes in at the 50-day moving average ($4.58 ¼). For November beans, it’s the 100-day moving average at $11.70 ¼. Export sales this morning totaled 4.6 mbu. for old corn and 40.4 mbu. for new corn. Old beans were 1.2 mbu. and new beans were 33.2 mbu. Wheat sales totaled 10.9 mbu. Decent weather for August overhangs the market, while decent demand and political uncertainties create at least some support for now. Have a safe day.

08/06/2026

OVERNIGHT RAINFALL

Alonzo .18
Bryce .50
Buckley 1.5 since the weekend
Danforth .50
Goodwine .14
LaHogue .87
Ludlow .21
Paxton .49
Piper City .85

Ludlow Co-Op Rain Map Locations and Rainfall Data

08/05/2026

8/5/26 MIDCO AFTERNOON COMMENTS

🌽 Corn Market Update
Corn futures closed lower by 5-6 cents. Ethanol production was lower as was expected. Ethanol margins remain elevated so the incentive for production is there. Mexico was in buying corn which is good news for exports. As of last week's data new crop exports are neck-and-neck with last year's pace.

🌱 Soybean Market Update
The soy complex also finished lower again today but SX26 did bounce off the 100-day moving average. Both meal and oil were slightly lower today. Crush margins were largely unchanged.

🌾 Wheat Market Update
Wheat futures finished four cents higher but off the highs. There remains a lot of risk in the wheat market due to the continued conflict between Russia and the United states. Minister of Agrarian Policy and Food of Ukraine Taras Vysotskyi told Reuters "A significant amount of production — specifically, just over 30 million tons — will not be exported to international markets unless this issue is resolved."

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08/05/2026

StoneX’s estimates below. Could be why we are down again today. We’ll see what the USDA puts out on the Aug 12 report.

08/05/2026

Summer Ag Adventures: Seed Sprouting Experiment 🌱

Bring science and agriculture together with a simple Seed Sprouting Experiment kids can do right at home! All you need are a few seeds, a clear cup or jar, a paper towel, and a little water.

Place the seeds between a damp paper towel and the side of the container, then set it in a sunny spot. Over the next few days, kids can watch roots begin to grow and shoots start to emerge, seeing firsthand how a plant begins its life.

This hands-on activity is a great way to spark curiosity about where our food comes from and how plants grow. Kids can track daily changes, draw what they see, and learn the basics of plant development used in agriculture every day across Illinois.

08/05/2026

We want to invite our members to Hardy's Reindeer Ranch on Tuesday, September 29th from 3 p.m. - 6 p.m. for a fun-filled evening of hay rides, reindeer tours, and the corn maze. We will have hot dogs, smores and lemonade, so please take a moment to RSVP and let us know how many from your family will be attending. Call us at 800-824-5102 to register or go to our website www.eiec.coop. We look forward to seeing you at the Member Appreciation Event!

08/05/2026

8/5/26 MIDCO MORNING COMMENTS

Good morning. Corn and bean prices are lower on more rain slated for the heart of the cornbelt and a big yield estimate to start off the private slew of opinions ahead of the August 12th crop report. Areas from Illinois and east will see sizable rain chances through the rest of the week and weekend. There is a good cell of rain moving through Iowa this morning. The far west and northwest growing areas are expected to be on the light side again. The extended forecast remains warm and wet. StoneX put the corn yield at 184.8 bpa, which would be down 1.7 bpa from last year but would still be the 2nd highest on record. IL was put at 212, Iowa at 218, and Minnesota at 206. Beans were estimated at 53.0 bpa, which would be on par with last year. The estimates seem a bit high but there will be good areas. I did drive through eastern Iowa last week and it looks very good. As a side note, there is a good chance that last year’s corn yield will come down in the September update. More private estimates will be out in the coming days. President Trump says a deal on the Strait of Hormuz is likely either today or tomorrow. Crude is flat in its price action this morning. Wheat is higher this morning as the Black Sea conflict continues. The weekly ethanol report is out this morning. Dec corn is still holding above the 50-day moving average ($4.58 ¾) for now. November beans are right on support at the 100-day ($11.70) so today’s close could be important. The weather is good enough to keep a lid on big rally attempts. The seasonals show a sideways pattern in corn during August and a higher pattern in beans. Have a safe day.

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08/04/2026

8/4/26 MIDCO AFTERNOON COMMENTS

🌽 Corn Market Update
Corn futures closed lower Tuesday, reversing the upside action seen to start the week on what was largely a quiet day from a news standpoint. Crop conditions expectedly continued their decline in yesterday afternoon's report, but this was either a small-scale buy the rumor, sell the fact event, or the trade simply had focus elsewhere amid another selloff in crude oil prices and what continues to be a seemingly precarious juggling act as to which market theme is going to drive price direction that day. Harvest season is quickly approaching and the yield debate is only going intensify once crop tour season gets started, but other market inputs aren't going to simply disappear because combines start rolling in the Midwest and this means unpredictable price action is likely to continue. Today, there's both chart and supply risk support in the mid 4.00's and resistance above $5, but just about any price level in between could be argued as fair until more is known about crop size.

🌱 Soybean Market Update
The soy complex also finished Tuesday lower, though it was a similar day to corn in terms of there being little fundamentally new throughout the space and as selling was largely tied to profit taking based on what was a slightly cooler forecast into mid-month. Outside of crop size debate, which will obviously have a sizeable impact on price action into fall and winter, the big question now in our opinion is just how much China buying is priced in? When the market was well above $12 a couple weeks ago, one could've argued a lot if not most of the 25 million tons; but now that we're back into the mid/upper 11's, that answer feels like it could be a bit different. Stabilizing crop conditions and what appears to be moisture on the way for some of the drier areas of the western Corn Belt were also market factors on Tuesday.

🌾 Wheat Market Update
Wheat futures closed lower Tuesday despite a lot of the headlines in the space still being centered on shipping infrastructure destruction in the Black Sea region. The selling throughout the rest of the space was too much for the wheat market to overcome, but we continue to see wheat fundamentals as bullish on the margin based on the ongoing loss of export capability out of the world's number one shipper. Furthermore, Ukrainian officials said today that alternative water shipping routes were being developed, but that they weren't likely to be usable before the end of August and that they would maybe be able to handle roughly half of the capacity lost on the Black Sea.

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