May 1, 2026

Mid-Co Morning Comments:
 

• Grain markets are firmer this morning, with November ’26 soybeans pushing to a new high of $11.80 overnight. Wheat futures were under pressure yesterday following rainfall across parts of the western Plains.
• The U.S. House of Representatives passed the farm bill yesterday, sending it on to the Senate. Senate Democrats are expected to push back on changes to SNAP programs and take a stricter stance on pesticides. E15 was left out of the bill amid opposition from oil-state Republicans. SDRP round two payments have started hitting accounts, with FSA offices noting funds are beginning to flow.
• The U.S.–China summit between President Trump and Xi Jinping is now just two weeks away. There’s still uncertainty around Trump’s attendance given ongoing Middle East tensions and the continued closure of the Strait of Hormuz.
• Another tenth to two-tenths of rain fell locally, with colder-than-normal temperatures in place this morning. The extended outlook keeps cooler conditions around with limited precipitation over the next week. The 8–14 day forecast trends warmer after May 9th, with scattered rain chances returning.