April 24, 2026

Mid-Co Morning Comments:
 

• Happy Friday. Grain markets are quiet this morning, with corn, soybeans, and Chicago wheat hovering around unchanged. December ’26 corn traded up to $4.86 overnight.
• The latest forecast calls for lighter rainfall across much of the Corn Belt, with improved rain chances on the Western Plains. Soybean planting has been active locally, with some producers further south beginning to shift back to corn. With limited precipitation overnight, expect a strong push to get more acres planted today and through the weekend ahead of rains expected Monday.
• President Trump signaled a patient approach with Iran, indicating the Strait of Hormuz will remain closed as leverage toward a broader peace agreement. He also noted a preference for Iran to stabilize its leadership before reopening the waterway. Crude oil futures were higher overnight but have since slipped back toward $95/barrel.
• U.S. Trade Representative Jamieson Greer noted that soybeans were not a focal point in this week’s discussions with China. The Trump–Xi meeting remains scheduled for mid-May, though there is some concern it could be delayed if tensions with Iran persist.
• Reminder: First notice day for May futures will be next Thursday April 30^th. Please reach with any questions on positions.