Your Pro Farmer newsletter (May 9, 2026) is now available

Prospects of peace talks forced crude oil to plunge in early-week trade, with grains and soy following suit, though a corrective bounce ensued as the week faded. The marketplace remains laser focused on the Strait of Hormuz as global oil and fertilizer supplies remain a key concern for world production. Analysts have noted that even if a reopening were to occur, it would take weeks before supply rebuilding would be able to occur. In the meantime, U.S. gasoline stocks are headed for record lows due to strong exports. Meanwhile, President Trump faced additional challenges in federal court, as the U.S. Supreme Court vacated the 10% duties levied in February under Section 122 of the Trade Act of 1974. Next week, USDA will release 2026-27 balance sheets on May 12, with pre-report expectations of trend line yields. Wheat production will be a focus amid persisting weather concerns in HRW wheat country. Year-round E15 and the Trump-Xi summit also remain in the spotlight. We cover all of this and more in this week’s newsletter.