The Standard Oil company (now ExxonMobil) was officially established on this day, of a year in which decade?
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Grain Market Insight
Morning Grain Comments 8-5-2026 – The grains opened lower last evening but they all saw a two-sided night session with corn and soybeans ending lower but wheat had some buying late in the session to end higher and near the session high. The StoneX Quick Editorial (QE) this morning stated, “corn dominated trade volume overnight, falling on the open and grinding lower from there on a fairly rosy 2026 crop scenario overall…” The StoneX comment regarding the release of their yield estimates yesterday stated “StoneX initially estimated 2026 U.S. corn yields at 184.8 bushels per acre, above the USDA’s 183.0 bpa July estimate, with production (using the government acreage figure) at 16.160 billion bushels, 160 mbu above the USDA July. Soybean yields came in at 53.0 bpa with production at 4.470, essentially even with the USDA’s working numbers on both fronts.” In world grain trade news, Jordan did not make a purchase in their tender this week for up to 4.4 million bushels of milling wheat but they have tendered again for the same amount and Sinograin in China sold12.3 million bushels of soybeans from their state reserves. At the end of the night session at 7:45 this morning Kansas City September wheat was 7.75 cents higher, Chicago September corn was 3.75 cents lower, and Chicago November soybeans were 7.75 cents lower. Have a wonderful day.
Afternoon Grain Comments 8-4-2026 – StoneX released their corn and soybean production estimates this afternoon with a national corn yield of 184.8 bushels per acre and a 53.0 bpa soybean yield. The StoneX afternoon corn comment stated “As the old saying goes, “buy the rumor, sell the fact.” Corn G/E ratings fell and fell more than the analysts put forward in their average guess. Corn conditions dropped two points to land on 61%, which is also the lowest level this year and also the lowest for the week in 5 years. In 2022, the corn crop was rated 58% by the end of July and turned in a yield 98% of trend. The equivalent of that today would be 181 today. StoneX releases its yield estimate this afternoon to give the market an indication of what the commercial sector believes the crop yield is. Weather going forward is beneficial to the eastern 2/3 of the Corn Belt. The Upper Plains and western CB are expected to miss most of the rains over the next 10 days, allowing the crops in those areas to slip even though the temperatures are expected to moderate.” The grain markets continue the volatile price action that we have come to expect but not love, although the volatility brings opportunity as we see you all sell on those up days. Forty years ago it seemed that most people sold grain more often after the price had been on a constant grind lower as they gave up (but that was a time when there was less volatility in prices). With Russia and Ukraine still going at each other, it will be interesting to see if Russia will sell wheat to Algeria for September shipment this week. That tender might be an interesting one. Sources today report the Jordan will not make a purchase of milling wheat this week but will tender again for next week. At the close today cash wheat was 10 cents lower, corn and milo were down 7 cents, and soybeans ended the day 14 cents lower. Have a great evening.
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