Afternoon Grain Comments 9-2-2026 – Corn rallied back into positive territory today before fading into a disappointing close, with the spread trade staying weak and corn actually lower on the week even though flat prices haven’t moved much lately. Funds bought another 10,000 corn contracts today and are still sitting about as long as they’ve ever been, with the StoneX Market Intelligence (MI) noting funds remain, “near max long relative to historical COT values.” Ethanol stocks slipped a touch to 25 million barrels from 25.2 million the week before, though we’re still running well ahead of past years thanks to tax incentives and strong margins keeping the grind going, even with production easing slightly to 1.1 million barrels a day. USDA’s crush numbers showed July corn-for-ethanol use at 475 million bushels, up from June’s 467 million, and August will need to come in around 483 million bushels to stay on pace for USDA’s 5.55-billion-bushel estimate for the year, something we’ve hit a handful of times over the last decade. Beans traded lower overnight before clawing some of it back during the day, with November futures down 7 1/2 cents to close at $13.10 1/4. Wheat traded lower overnight on headlines that Russia is dropping its grain export duties to try to get more moving, though not much is actually expected to flow out of the Black Sea near-term with those ports still under fire, MI noted the market may need, “concrete fundamental evidence” before it’s ready to keep building on the rally. At the close today, cash corn was down 3 cent, cash wheat was down 11 cents, and cash beans were down 8 cents. Have a great rest of your evening!
Morning Grain Comments 9-2-2026 – The grain markets opened the night session fractionally lower, traded higher for a time, then as the session progressed moved lower following wheat that was close to being 20 cents lower at one point. The StoneX Quick Editorial (QE) this morning stated, “the grains are taking profits this morning but not before opening higher last night and squeaking out more move highs; little has changed fundamentally or geopolitically as Russian attacks once again dam-aged infrastructure at Ukraine’s Odesa port overnight, and Russian officials publicly rebuked any chance for a Black Sea grain export deal to resume…” In world grain trade news, Jordan has again tendered for up to 4.4 million bushels of optional origin milling wheat. At the end of the night session at 7:45 this morning Kansas City December wheat was 11 cents lower, Chicago December corn down 8.25 cents, and Chicago November soybeans were 14.5 cents lower. Have a wonderful day.
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Sublette Cooperative will be closed Monday, September 7th for Labor Day. Grain operations for harvest will be open if necessary. Thank you for your business.
