Markets React to Trade Talks Delay
On the weekly Ag Commodity Corner+ Podcast, hosted by Farms.com Risk Management’s Chief Commodity Strategist Moe Agostino and Commodity Strategist Abhinesh Gopal, the duo reviewed key market developments during the week of May 27 to 31.
The podcast opened with a summary of market trends: corn dropped 15 cents, soy oil fell 2.22, while oats rose 24 cents and Minneapolis wheat jumped 25 cents.
Nvidia’s strong earnings—revenues up 69%—could not fully lift market sentiment due to the ongoing trade uncertainty. Moe noted that despite Nvidia’s momentum, overall investment may remain sluggish through to the end of 2025.
Crop progress reports showed serious delays in Ohio, where heavy rains caused saturated soil and late planting. Only 54% of corn was planted—19% behind the five-year average—with potential acreage switching to soybeans. The prevent plant insurance deadlines for OH loom: June 5 for corn and June 20 for soybeans.
U.S. spring wheat conditions debuted at just 45% good-to-excellent—among the lowest in four decades—pressured by recent rainfall and cold weather. Meanwhile, Western Canada is facing a potential drought and wildfire crisis, echoing concerns from 2021and 203 respectively.
In South America, Brazil’s corn crop remains record large with estimates reaching 139–140 million metric tons. Conversely, drought conditions in Mexico are intensifying, supporting increased U.S. corn exports—already 28.4% higher year-over-year.
Agostino concluded the podcast with a note of caution to Western Canadian farmers: he warned producers to be patient with forward contracting until more is known about weather conditions.
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