March 25, 2026

Mid-Co Morning Comments:

• Grain futures are mixed this morning, with soybeans higher and corn under pressure. Crude oil is down roughly $4/barrel on the May futures board, weighing on corn. Spreads are mixed as well—corn even to wider, while soybean spreads are slightly firmer.
• Reports indicate the U.S. has presented Iran with a 15-point proposal that includes sanctions relief, nuclear cooperation, and reopening the Strait of Hormuz. So far, there has been little response from Iran as tensions remain elevated.
• Severe weather is expected across Illinois and the eastern Corn Belt tomorrow. On my drive from Nashville to Bloomington yesterday, I saw about a dozen guys already in the field—and it is dry. A warmer pattern is expected to settle into the Midwest over the next couple of weeks.
• Nationwide E-15 blending waivers are expected to be announced today at the CERA conference in Houston. The “Celebration of Agriculture” event at the White House is still slated for Friday, with the market watching closely for potential policy updates.