May 22 | Closing Market Report

The May 22, 2026, agricultural market report details significant macroeconomic pressures and favorable summer weather projections. Analyst Mike Zuzolo assesses that commodity markets must ration demand for wheat and crude oil due to the ongoing closure of the Strait of Hormuz, which is eliminating 10 million barrels of oil per day and may permanently raise energy and agricultural production costs. Zuzolo critically notes that rising bond yields point toward impending inflation and Federal Reserve rate hikes. Conversely, meteorologist Eric Snodgrass provides a largely optimistic weather outlook, forecasting a warm, drier June that historically benefits corn and soybean yields. Snodgrass concludes that current elevated ocean temperatures in the Pacific and Atlantic significantly diminish the risk of severe, long-duration summer drought or heatwaves in the U.S. Midwest.

- Ag Markets with Mike Zuzolo, GlobalCommResearch.com
- Ag Weather with Eric Snodgrass, NutrienAgSolutions.com