Apr 27 | Closing Market Report

- Curt Kimmel, AgMarket.net
- Middle East Ceasefire Fails to Ease Fertilizer Price Surge
- farmdoc Webinar on Controlling Costs 11am Thursday
- Chad Hart, Iowa State University
- Mark Russo, EverStream.ai

This April 27, 2026, agricultural market report highlights upward price movements across corn, soybeans, and wheat futures. Market analyst Curt Kimmel attributes the soybean rally to the European Union rejecting Argentine soybean meal cargoes due to the presence of the drought-resistant HB4 gene, while corn prices were supported by dry conditions in Brazil. 

Domestically, ongoing conflict in the Middle East has kept nitrogen fertilizer prices high, adding an estimated $30 to $55 per acre to 2026 corn crop costs. Iowa State economist 

Chad Hart noted that commodity prices are currently benefiting from both war and weather premiums, pointing out the contrast between widespread U.S. drought and overly wet planting conditions in parts of Iowa and Illinois. 

Finally, meteorologist Mark Russo forecasted a normal, albeit slightly cooler, spring weather pattern for the U.S. Corn Belt, while noting continued dryness in the western Plains, snow-delayed planting in the Canadian prairies, and generally favorable late-season conditions for Brazil's safrinha corn crop.