Newsletters

Daily comment for Monday, October 12

taylor@claytonpopecommodities.com (Taylor Pope) — Tue, 13 Oct 2026 20:06:00 GMT

CONTRACT	CLOSE	NET CHANGE
Dec '26 Corn	483	+3 1/4
Mar '27 Corn	497 1/4	+3
Nov '26 Beans	1287 3/4	-4 1/4
Jan '27 Beans	1304 3/4	-4
Dec '26 Chi Wheat	672 1/4	+1 1/4
Dec '26 KC Wheat	715 1/4	-4
Dec '26 Cotton	80.44	+.05
Crude Oil (spot futures)	93.16	+1.50
US Dollar Index (spot futures)	102.37	+.35
Dow Jones (spot futures)	52,129	+153

Daily Glance

A much quieter start to the week after Friday's fireworks. Corn opened a few cents lower, found steady buying from there and settled near its high of the day, nearly 13 cents above Friday's limit low. Wheat was mixed with Chicago a touch higher and Kansas City lower.

Daily comment for Friday, October 9

taylor@claytonpopecommodities.com (Taylor Pope) — Fri, 09 Oct 2026 19:45:33 GMT

CONTRACT	CLOSE	NET CHANGE
Dec '26 Corn	479 3/4	-20 1/2
Mar '27 Corn	494 1/4	-21
Nov '26 Beans	1292	+4 1/2
Jan '27 Beans	1308 3/4	+4 1/2
Dec '26 Chi Wheat	671	-12 1/4
Dec '26 KC Wheat	719 1/4	-17
Dec '26 Cotton	80.39	+.45
Crude Oil (spot futures)	91.27	-.23
US Dollar Index (spot futures)	102.03	+.09
Dow Jones (spot futures)	51,985	+496

Daily Glance

A bearish shock in corn to close out the week. December corn was trading near unchanged ahead of the report, then fell straight to the 30 cent limit once the numbers came out before finding some buyers and finishing nearly a dime off its low. Wheat got dragged down right along with it.

Daily comment for Thursday, October 8

taylor@claytonpopecommodities.com (Taylor Pope) — Thu, 08 Oct 2026 19:48:57 GMT

CONTRACT	CLOSE	NET CHANGE
Dec '26 Corn	500 1/4	-1 3/4
Mar '27 Corn	515 1/4	-1 3/4
Nov '26 Beans	1287 1/2	-10
Jan '27 Beans	1304 1/4	-10 1/4
Dec '26 Chi Wheat	683 1/4	-3 1/4
Dec '26 KC Wheat	736 1/4	-2 1/4
Dec '26 Cotton	79.97	-.07
Crude Oil (spot futures)	91.34	+3.06
US Dollar Index (spot futures)	101.92	-.12
Dow Jones (spot futures)	51,466	+18

Daily Glance

The soy complex did most of the talking ahead of tomorrow's report. Meal was under pressure all day while soybean oil firmed alongside crude, and beans followed meal lower to finish near their lows. Export sales at the low end of expectations didn't help, and there's still some unease over how little last month's summit with China produced on the soybean side.

Daily comment for Wednesday, October 7

taylor@claytonpopecommodities.com (Taylor Pope) — Wed, 07 Oct 2026 19:47:52 GMT

CONTRACT	CLOSE	NET CHANGE
Dec '26 Corn	502	-6
Mar '27 Corn	517	-5 1/4
Nov '26 Beans	1297 1/2	-5 1/2
Jan '27 Beans	1314 1/2	-4 3/4
Dec '26 Chi Wheat	686 1/2	-17 3/4
Dec '26 KC Wheat	738 1/2	-17 3/4
Dec '26 Cotton	80.04	-1.17
Crude Oil (spot futures)	88.90	-.54
US Dollar Index (spot futures)	102.04	+.44
Dow Jones (spot futures)	51,444	-372

Daily Glance

We're both traveling for a conference today, so this will be a bit of a condensed letter.

Daily comment for Tuesday, October 6

taylor@claytonpopecommodities.com (Taylor Pope) — Tue, 06 Oct 2026 21:02:03 GMT

CONTRACT	CLOSE	NET CHANGE
Dec '26 Corn	508	+10 3/4
Mar '27 Corn	522 1/4	+10 3/4
Nov '26 Beans	1303	+22 1/4
Jan '27 Beans	1319 1/4	+21 3/4
Dec '26 Chi Wheat	704 1/4	+12
Dec '26 KC Wheat	756 1/4	+14
Dec '26 Cotton	81.20	+.34
Crude Oil (spot futures)	89.81	+.39
US Dollar Index (spot futures)	101.62	-.28
Dow Jones (spot futures)	51,822	+263

Daily Glance

A much better day, and this time the early strength stuck. Corn and beans were firm overnight just like Monday, but instead of fading they kept adding to their gains through the day session, eventually taking out Monday's highs. Corn had its best close since before last week's stocks report, and beans closed over 1300 for the first time since September 25, whipping out all the loses following last weeks report.

Daily comment for Monday October 5

clayton@claytonpopecommodities.com (Clayton Pope) — Mon, 05 Oct 2026 19:25:52 GMT

CONTRACT	CLOSE	NET CHANGE
Dec '26 Corn	497 1/4	-1/2
Mar '27 Corn	511 1/2	Unchanged
Nov '26 Beans	1280 3/4	+2 1/2
Jan '27 Beans	1297 1/2	+3
Dec '26 Chi Wheat	692 1/4	+9 1/4
Dec '26 KC Wheat	742 1/4	+7
Dec '26 Cotton	80.86	+1.98
Crude Oil (spot futures)	88.80	-2.31
US Dollar Index (spot futures)	101.96	+.24
Dow Jones (spot futures)	51,678	+201

Daily Glance

Disappointing close after what seemed like promising early strength. Soybeans managed to hang on to a very small gain, but a far cry from their peak gain of 19 cents. Corn saw a peak gain of 5 1/2 before slipping into negative territory into the close, and wheat saw its early gains cut back as well.

Daily comment for Friday, October 2

taylor@claytonpopecommodities.com (Taylor Pope) — Sat, 03 Oct 2026 02:54:03 GMT

CONTRACT	CLOSE	NET CHANGE
Dec '26 Corn	497 3/4	-4 1/2
Mar '27 Corn	511 1/2	-5 1/4
Nov '26 Beans	1278 1/4	-5 3/4
Jan '27 Beans	1294 1/2	-6 1/4
Dec '26 Chi Wheat	683	+1/4
Dec '26 KC Wheat	735 1/4	-2 1/4
Dec '26 Cotton	78.76	+1.00
Crude Oil (spot futures)	94.59	-1.19
US Dollar Index (spot futures)	101.655	-.145
Dow Jones (spot futures)	51,477	+236

Daily Glance

Another lower lean to finish the week, though the selling was a good deal more orderly than it was earlier in the week. Corn and beans were both weaker overnight and worked back to about unchanged early in the day session, then drifted lower into the weekend, with corn finishing under $5 for the first time since the middle of August.

Daily comment for Thursday October 1

clayton@claytonpopecommodities.com (Clayton Pope) — Thu, 01 Oct 2026 18:29:06 GMT

CONTRACT	CLOSE	NET CHANGE
Dec '26 Corn	502	+1 1/4
Mar '27 Corn	516 1/2	+1
Nov '26 Beans	1284	-9
Jan '27 Beans	1300	-9 1/4
Dec '26 Chi Wheat	682 1/4	+6 1/2
Dec '26 KC Wheat	737 1/4	+4 1/4
Dec '26 Cotton	77.79	-.73
Crude Oil (spot futures)	93.05	+2.63
US Dollar Index (spot futures)	101.94	+.75
Dow Jones (spot futures)	51,221	-57

Daily Glance

Some more long liquidation today as traders continue to digest yesterday's bearish corn and neutral soybean data. Weekly exports were poor for corn and wheat and although soybeans fared better than last week, they too were less than their recent pace.

Daily comment for Wednesday, September 30

taylor@claytonpopecommodities.com (Taylor Pope) — Wed, 30 Sep 2026 20:45:27 GMT

CONTRACT	CLOSE	NET CHANGE
Dec '26 Corn	500 3/4	-21 1/4
Mar '27 Corn	515 1/2	-20 1/2
Nov '26 Beans	1293	-4 3/4
Jan '27 Beans	1309 1/4	-3 1/2
Dec '26 Chi Wheat	675 3/4	-17
Dec '26 KC Wheat	733	-10
Dec '26 Cotton	78.60	-.26
Crude Oil (spot futures)	90.54	+1.16
US Dollar Index (spot futures)	101.24	+.10
Dow Jones (spot futures)	51,345	-354

Daily Glance

The quarterly stocks report landed on corn, and it landed hard. Corn had been a few cents higher into the 11:00 release, then was down more than 20 within minutes once USDA found 177 million more bushels of old crop than the trade was looking for, 90 million more than even the highest guess. It never got much of a bounce from there, finishing near the low of the day and at its lowest close since the middle of August.

Daily comment for Tuesday, September 29

taylor@claytonpopecommodities.com (Taylor Pope) — Tue, 29 Sep 2026 20:12:06 GMT

CONTRACT	CLOSE	NET CHANGE
Dec '26 Corn	522	-1
Mar '27 Corn	536	-1/2
Nov '26 Beans	1297 3/4	+9 1/2
Jan '27 Beans	1312 3/4	+9 3/4
Dec '26 Chi Wheat	692 3/4	+4
Dec '26 KC Wheat	743	-2 3/4
Dec '26 Cotton	78.86	-4.00
Crude Oil (spot futures)	89.26	-3.35
US Dollar Index (spot futures)	101.15	+.22
Dow Jones (spot futures)	51,721	-117

Daily Glance

A quieter, corrective sort of day after Monday's washout, with corn and beans both staying inside yesterday's range on light volume as the trade squared up for tomorrow's report. Corn spent the entire session in a range of about seven cents and finished just a touch lower, while beans clawed back about a third of what they lost Monday.