10/1/26 Ball In Funds’ Court

10/01/2026 Click Above to Watch the Morning Market Talk Video Ball In Funds’ Court On the Grains: Grain and soy futures traded in relatively tight ranges overnight as markets paused following Wednesday’s reaction to USDA’s reports. Corn and wheat futures are trying to recoup a little of Wednesday’s sharp losses early this morning. Soybeans are mildly favoring the downside. With the flip of the calendar to a new month and new quarter, attention will be squarely on money flow and fund positioning. Corn and wheat broke down technically, while soybeans are holding above their late-September lows. USDA added 173 million bu. to the new-crop corn balance sheet with the Sept. 1 stocks figure, which is beginning stocks for the 2026-27 marketing year. That’s the equivalent of about 2 bu. per acre of yield that would have to be trimmed without any changes to the demand side of the balance sheet. Corn ending stocks are still down from last year, but there’s a little more cushion now. Soybeans have a little less cushion, though projected ending stocks for 2026-27 still wouldn’t be tight. Wheat continues to face a demand problem, despite disruptions in the Black Sea. The question is whether funds…