Your Pro Farmer newsletter (April 18, 2026) is now available

After a shaky start, the ceasefire held over the past week, leading to a favorable risk-on tone in the general marketplace. Iran’s declaration that the Strait of Hormuz is open and prospects for further peace talks spurred a hefty selloff in crude oil and sent stocks to record highs. Meanwhile, market participants continue to ponder the long-term implications of the shutdown of the strait, with southern hemisphere wheat growers weighing what it might look like to plant a crop without needed fertilizers. We examine why the farm economy won’t recover as quickly as the economy as a whole. South American production estimates continue to rise, likely to serve up competition on the world market for U.S. supplies. We cover all this and much more in this week’s newsletter.