Iran
Diesel prices are just 20 cents from a record high, with multiple states already setting new records. Experts warn relief is uncertain as prices could remain elevated through 2026.
Allison Thompson with The Money Farm says corn and wheat saw some end of month profit taking Thursday, but it is a healthy correction.
Chip Nellinger with Blue Reef Agri-Marketing says it’s end of the month, so he chalks this up to some routine profit taking and farmer selling.
Garrett Toay with AgTraderTalk says the HRW wheat market was adding weather premium with forecasts continuing to look hot and dry for the Southern Plains.
Darin Newsom, senior market analyst with Barchart, says wheat is holding weather premium with the deteriorating crop conditions but longer term higher energy prices could spark some inflationary buying in grains.
The soybean market looked like it was ready to breakout but Sam Hudson with Cornbelt Marketing says they hit chart resistance and saw profit taking.
Grains initially saw pressure in tandem with the plunge in the energy markets on Friday on optimism about the reopening of the Strait of Hormuz but ended well off session lows says Matt Bennett with AgMarket.Net.
Scott Varilek with Kooima Kooima Varilek says cattle plunged late week after contract highs due to fears of the border reopening to Mexican imports.
Wheat futures rallied on Thursday adding weather premium with expanding drought and a mostly dry forecast for the Western third of the Plains says Naomi Blohm of Total Farm Marketing.
DuWayne Bosse with Bolt Marketing says funds are buying and covering short positions due to expanded drought in hard red winter wheat country on Thursday’s U.S. Drought Monitor and the lower crop conditions.
Rich Nelson with Allendale says while he doesn’t agree with it, the corn market was seeing some weather premium added on concerns about planting delays which takes away the argument for record acreage.
Brian Grete with CommStock Investments says soybeans were higher Wednesday on optimism about the mid-May meeting with China and corn was following.
According to Tommy Grisafi of Nesvick Trading money flow the last two sessions in the outside markets had a huge impact on ag markets.
Jon Scheve with Scheve Grain thinks the grain markets have transitioned over to trading more of its own fundamentals.
As the Iran war drives fertilizer prices up 40%, the Trump administration is warning against price gouging. A new survey shows only 60% of corn farmers have secured their nitrogen needs for 2026.
Mark Schultz with Northstar Commodity says the grains and energy sector started higher on war headlines but peaked out quickly by mid session acting like it wasn’t that concerned about the war.
Don Roose with U.S. Commodities say soybeans followed meal and hold a premium on hopes of China business.
Scott Varilek with Kooima Kooima Varilek says the cattle market has been impressive and resilient.
Randy Martinson, Martinson Ag, says many markets were extracting risk or war premium on Wednesday.
Ted Seifried with Zaner Ag Hedge says markets were removing war premium but the key is will the ceasefire stick and does the Strait of Hormuz get reopened?
Corn, wheat and crude oil were lower after a possible two week cease fire between the U.S. and Iran. says Randy Martinson with Martinson Ag.
Brad Kooima with Kooima Kooima Varilek says the live cattle futures are chasing sharply higher cash trade from last week.
Shawn Hackett with Hackett Financial Advisors says corn and soybeans are experiencing war fatigue and are tired of chasing every headline.
Darin Newsom, senior market analyst with Barchart says the grains are chasing the sharply higher crude oil prices which were up over $10 and Iran war headlines.
Bryan Doherty with Total Farm Marketing says the grain markets markets were removing war and weather premium. Will that continue with if the Iran war is indeed over?
DuWayne Bosse with Bolt Marketing says with the reports out of the way the grain market has gone back to trading Iran war headlines and following the crude oil market
Arlan Suderman with StoneX some of the support in the grains Tuesday came from money flow but lower wheat and soybean acreage than anticipated also added to the buying interest.