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Gary's Blog 05/28/26 1:02:02 PM
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5-26-26 Planting progress %
TW LW OH
Corn 86 57 63
Beans 79 67 57
5-28-26
The media was focusing on the “ceasefire agreement” today but nothing is officially signed yet. Grains have spent most of the session in the green as traders have grown tired of the on again off again “agreement.” Oil felt the most pressure as reopening the Strait would ease energy prices. Weather forecasts are mixed with better rainfall chances in some areas while N. OH, N. IN, and N ILL look almost completely dry for the next 10 days. Funds still hold a sizeable net long position in the summer row crops. Weather risks remain high into the month of July so we are in a wait and see pattern.
5-27-26
The correction is running deeper in corn/wheat along with crude oil. Trendline support is in jeopardy which could trigger even more technical selling. Soybeans have been able to hold around unchanged for most of the day. Weather seems to be a concern for some but not for others. Rumblings of a “flash drought” in places while others are too wet to finish up planting. The nation is 86% planted in corn and 79% in soybeans. There are only a couple of states behind historical averages and Ohio is unfortunately one of them. We are falling behind but not large enough to matter in the bigger picture. Forecasts look dry for the next 2 weeks which should allow us to finish.
5-26-26
Markets started the week off on a weaker tone with futures 5-10 cents lower at the close. It’s back to the on again off again war talk with Iran. When traders feel a peace deal is close commodities have suffered as traders sell. We have seen this play out over and over the past few weeks and when the missiles start flying again oil/grains tend to rally. The bigger story may turn into the weather as we have seen extremes so far this spring. Some areas are excessively wet while others remain too dry. Some weather models suggest almost zero rain over the next 2 weeks which could place some stress on those in the drought areas. Seasonally it’s a volatile time on the CBOT with a lot of uncertainty surrounding the 2026 crop.
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