$5 Corn, $12 Soybeans, $7 Wheat & $750 Canola! Is the Top In/Party Over?

**agstar77** · May 8, 2026, 21:33

Is the skirmish over? Taco. This can't. Be good

**errolanderson** · May 9, 2026, 08:31

Originally posted by AgrivilleAdmin View Post

$5 corn, $12 soybeans, $7 wheat & $750 canola! Is the top in and the party over with lower crude oil and an end to the Iran war?

The 2026 USDA May report could see ending stocks fall further due to red-hot U.S. corn exports, lower HRW production and lower Brazil corn production?

OK HRW wheat tour sees crop down 50% + Kansas Quality Council Wheat tour next week.

Headline news that U.S. could import Brazilian beef weighed on cattle futures.

Headline news of pseudorabies disease found in hogs in Iowa and #1 buyer Mexico may restrict exports weighed on hog futures.

Stocks are on fire.

5 senators are in China planning ahead of the Trump/Xi meeting on May 14/15.

+ CFTC.

Grain markets have bottomed IMO . . . . You don’t cut nitrogen and get away with it. And Iran may hold the U.S. feet on a hot plate for much longer-than-expected.

Oil is apt to stay elevated, $80 per barrel plus WTI for some time. Veg oils will be well supported on bio-diesel. Global wheat stocks are apt to decline in the 2026/27 crop year.

Now stir-in an impending El Niño event. Will the U.S. Midwest dry out this summer and western Canada gets the rain?

In my view, don’t be short wheat, corn can move higher as can canola. It’s all tied together.

**agstar77** · May 9, 2026, 09:15

Crops price being held by low basis. At least a dollar low.

**MoeAgostino** · May 9, 2026, 10:56

So do you think the top is in the grain markets for 2026 or do you think we can go higher?

**MoeAgostino** · May 9, 2026, 10:58

May 9, 2026, 09:15
Crops price being held by low basis. At least a dollar low

If basis is going to improve its this time of the year seasonally this is when basis can get better.

**errolanderson** · May 9, 2026, 11:06

Buyers/traders are still focusing on ample old crop stocks. Whatever you do, don’t sign a new crop basis contract. Basis levels are apt to narrow into 2027. And if El Niño strikes, basis levels will improve this summer. A watch . . . .

**agstar77** · May 11, 2026, 06:40

The skirmish is long term. Oil will likely be higher for foreseeable future . This should spike grain futures. The black swan is alive and well. I would not be a seller or a shorter.

**Dr Tone** · May 11, 2026, 08:41

Should spike, but Canola taking a bit of beating this morning.

**agstar77** · May 11, 2026, 11:17

Wheat 9 soy 15

$5 Corn, $12 Soybeans, $7 Wheat & $750 Canola! Is the Top In/Party Over?