Eddyville

Market Commentary 5/20/2026

Markets pulled back today as follow-through buying from the China headlines faded, with July corn closing around $4.65¾, down 9¼, and July soybeans near $11.99¼, down 10¼. Pressure stemmed largely from uncertainty around trade, as China has yet to fully confirm the previously discussed U.S. ag purchase targets, instead calling them a “guiding target,” which has traders questioning actual demand. Fundamentally, planting progress remains ahead of normal pace with corn about 76% planted and soybeans 67% planted, keeping early season supply outlooks favorable. Outside markets added pressure as WTI crude oil fell roughly $5.70 per barrel (about 5% lower on the day), as tensions in the Middle East temporarily eased and traders took profits following the recent rally, creating spillover selling across the grain complex. Have a good day!