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May 29, 2026
Grain Overview
Energy values are weaker this morning following news of a potential extension of the US-Iran peace deal and a possible agreement to end the war. Details of this proposal are still being worked out though, and its passage remains uncertain. The peace deal has now moved to President Trump for his approval.
Aside from geopolitical developments, global weather remains a primary topic. Elevated temperatures are forecast for much of the Corn Belt for the next two weeks, but after that, conditions look to improve. India is forecasting that its monsoonal rainfall will be disappointing and is now at its lowest level in 11 years due to the super El Niño. India may become an important buyer of soybeans, rice, and edible beans later this year. This is important especially since they US and India trade pact looks to be announced soon. Keep an eye on European wheat production; France and Spain are struggling with heat and drought. Crop ratings are declining weekly.
