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Illinois stretches nearly 400 miles from north to south (about a six-hour drive) covering a wide range of soils, weather patterns, and growing conditions. What's happening in the field near Wisconsin can look very different from what's happening near the Kentucky border.
How's your corn looking?
6/9/26 MIDCO MORNING COMMENTS & REPORT ESTIMATES
Good morning. Ag prices are mixed to start Tuesday with grains recovering from oversold conditions. July corn was able to post a small reversal higher yesterday, which is prompting a little more strength this morning. A similar setup happened in wheat yesterday as well. Beans haven’t gotten the memo yet. Crude is down nearly $2.00 as President Trump stated last night that “total victory” will be seen in Iran over the next couple of weeks. Seems like we have heard that timeline before. The crop progress report yesterday showed corn planting at 97% done. IL is 96%, IN is 94%, and OH is 89% planted. Corn ratings were 67% good to excellent, unchanged from last week. Bean planting was 92% done. Bean ratings came in at 65% good to excellent, down 1%. Wheat harvest is 11% done with IL at 4%. Winter wheat ratings dropped 1% to 25% good to excellent. Rains are scheduled on and off the rest of the week in the Midwest. The heaviest totals will favor northern IL, Iowa, and the southern plains. Cooler temps are coming next week. Basis levels continue to improve slightly as the producer has lost almost all interest in selling. Ohio ethanol plants are leading the way higher on posted basis. The USDA report is Thursday. Estimates are listed below. The trade estimates always try to lower the production numbers in June, but it hardly ever changes. There could be some small changes on demand for old crop as corn sales continue to be strong and bean crush margins are supporting an active crush pace. Day 3 of the Goldman roll. A higher close today for corn will key to help confirm yesterday’s reversal. A recovery of oversold conditions can only take us so far. The ag markets will need something else to get the funds re-engaged again. Have a safe day.
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Ludlow Cooperative Elevator Company is a farmer-owned grain cooperative in east-central Illinois serving Ford, Iroquois, and Champaign counties.
Founded in 1904 in Ludlow, Illinois, the company now has eleven locations: Alonzo, Bryce, Buckley, Danforth, Fountain Creek, Goodwine, La Hogue, Ludlow, Paxton, and Piper City, with convenient access to rail and Interstate highways.
Ludlow Cooperative Elevator Company handles grain sales and marketing of corn, soybeans, and wheat including grain storage and conditioning. The company is located in an area that enjoys some of the richest farmland in the world. Learn more about Ludlow Co-op Elevator
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