Thursday, May 14, 2026, 7:15 am

Wednesday was a mixed day for our markets.  Spot corn closed up 3/4, spot soybeans closed up 2 1/4, harvest winter wheat closed down 3 1/2 and harvest spring wheat closed down 4.  In the overnight trade corn and soybeans are negative with the wheat sector back on the positive side.  Oil closed down $1.06 yesterday at $101.02 per barrel.  It is a bit stronger this morning with it now trading at $101.20 per barrel.  Our dollar started out yesterday morning at $0.730 US and has trended just a bit lower as the day progressed.  This morning it is currently valued at $0.729 US.

After the big strong day on Tuesday it was only natural to see the wheat markets pull back a bit yesterday.  The good part about the pull back is that it was very small and once again today wheat prices are on the positive. With a wheat tour taking place this week in the US (Kansas) over much of their HRW wheat growing regions we should hear more reports that will support the decreased yields talked about in the WASDE report on Tuesday.

The meetings between President Trump and President Xi started last night and the markets are not yet that impressed.  With the negative price pressure this morning, especially on soybeans, the marketplace is waiting to see if anything positive for our commodities come out of the meetings.  For soybeans to be supported there will most likely at least need to be confirmation that China will purchase 25 million tonnes of soybeans from the 2026 crop.  This is the amount that was previously agreed to between the two Presidents.  Whatever comes out of these meetings today will most definitely be affecting our markets. 

Legislation to increase ethanol usage up to a 15% blend in the US has passed the US Congress and has now been sent to their Senate.  Whether it passes the next steps is open for discussion as the oil lobby is strongly against it and even the American Soybean Farmers have some problems with the potential new legislation.  Politics and how they affect our markets just keep occurring and how they work out is as usual beyond our control.