WILLAg Business Week Review for May 8, 2026
The following is a summary of the WILLAg.org radio broadcast content from the work week ending May 8, 2026.
Agricultural Markets Weekly Synthesis
Throughout the week, agricultural markets experienced significant volatility driven by fluctuating crude oil prices, geopolitical tensions, and the anticipation of upcoming governmental reports and international summits. Early in the week, Curt Kimmel reported that commodity funds aggressively bought contracts, pushing soybeans higher due to a risk premium returning to crude oil amidst Middle East tensions. This bullish momentum was echoed by Naomi Blohm, who highlighted that December corn reached a two-and-a-half-year high by closing above $5.00, while November soybeans hit major resistance at $12.00, prompting a surge in producer hedging and cash sales. By midweek, the trend briefly reversed; Greg Johnson noted a substantial $7 to $8 per barrel drop in crude oil prices—spurred by rumors of a US-Iran agreement—which subsequently pressured corn and beans lower. Despite the pullback, Johnson stressed that prices remained historically advantageous. Moving into the latter half of the week, Matt Bennett observed a stabilization as crude oil recovered off its lows and corn and soybean futures successfully tested and settled above their 50-day moving averages. Meanwhile, wheat futures traded lower due to improving European weather and less severe freeze damage than anticipated in the US. Wrapping up the week, Mike Zuzolo emphasized that dashed expectations for an immediate US-Iran peace deal reinvigorated the energy markets and heavily supported soybean oil. Across the board, all analysts closely monitored the upcoming mid-May summit between President Trump and President Xi, with traders heavily pricing in the expectation of significant Chinese agricultural purchases.
Agricultural Weather Weekly Synthesis
The weekly weather progression shifted from unseasonable cold and regional precipitation to forecasts of a widespread, much-needed warming trend. Early in the week, Mark Russo and Don Day detailed cold temperatures and a significant early-May snowstorm that brought highly beneficial, though localized, moisture to drought-stricken areas of eastern Colorado and western Kansas. Despite this storm, Day and Mike Tannura confirmed that severe, prolonged drought conditions persisted across the broader Plains, threatening the hard red winter wheat crop. Midweek forecasts brought concerns of winter kill; Drew Lerner warned of temperatures dropping into the 20s for headed wheat in Kansas and Colorado. Ultimately, Tannura reported that the coldest temperatures were largely confined to Colorado, sparing the majority of the crop in Kansas and Oklahoma from severe, widespread damage. Across the Corn Belt, Eric Snodgrass and Tannura highlighted a geographic divide: northwestern areas remained dry, allowing for rapid planting progress, while eastern and central regions, particularly Illinois, battled saturated soils, recurrent frost, and high winds that triggered dust storms. However, all meteorologists agreed that a major pattern shift was imminent, with Snodgrass and Tannura forecasting a strong resurgence of warm, dry air arriving by the weekend to elevate soil temperatures and accelerate remaining fieldwork across the Midwest and Plains. Internationally, Russo and Tannura tracked a beneficial stormy pattern improving soil moisture across Europe, Ukraine, and Russia , which stood in stark contrast to Brazil, where Lerner and Tannura noted the onset of a detrimental dry season stressing the critical northern Safrinha corn crop.
The Week’s News and Other Items from the Closing Market Report
Pesticide Resistant Alfalfa Weevils and Applied Research Results
Nick Seiter, University of Illinois Field Crops Entomologist discussed an increase in field failures when using pyrethroids to control alfalfa weevils. Because there are limited insecticide options for alfalfa, Seiter promoted a regional survey aimed at understanding application frequencies and resistance levels among Midwestern farmers. You may learn more and find a link to the survey in his article posted to the cropCentral website.
Expanding on the mention of the cropCentral report, Nick Seiter highlighted that the 2025 applied research results guide provides farmers with third-party evaluations of commercial products. A notable inclusion this year is a study on the extended diapause trait in northern corn rootworms, the first research of its kind in Illinois in several decades.
You will find more on field crop diseases and insect management in the University of Illinois 2025 Applied Research Results report which is available as a [PDF download](https://extension.illinois.edu/media/9106/download?inline) through the Crop Central newsletter.
Power, Politics, and Pushback on Data Centers
During the Tuesday, Wednesday, and Friday Closing Market Reports issues related to the siting of data-centers were taken up from the perspective of Google, County Boards, and residents.
The rapid expansion of hyperscale data centers has ignited a multifaceted debate encompassing economic utility, agricultural preservation, and community quality of life. Industry representatives defend the continued growth, arguing that these facilities provide systemic infrastructure benefits. Liz Schwab from Google’s data center team contends that large energy users distribute fixed grid costs, which can apply downward pressure on residential utility rates. Addressing environmental concerns, Schwab notes that Google utilizes treated water for cooling, adheres to strict noise ordinances, and has committed to replenishing 120% of its water consumption.
However, critics argue the current approach to siting these massive facilities relies on an inherently flawed and localized regulatory process. Jonathan Coppess characterizes the pressure placed on local county boards to zone large-scale data centers as an unfair burden. He points out that situating these immense facilities on agricultural land causes permanent soil degradation, and he advocates for state or federal intervention to regulate the unchecked consumption of land, water, and electricity.
This systemic tension is highly visible at the community level, where residents prioritize local stability over industrial expansion. In Logan County, Illinois, resident Allison Isley has voiced strong opposition to a proposed 500-megawatt Hut 8 data center near Latham. Framing the dispute as a fundamental quality of life issue, Isley cites severe concerns regarding the facility’s immense power demands, the anticipated noise from generators, and the untested long-term environmental impacts. Furthermore, she highlights the social friction inherent in these developments, pointing to perceived condescension from project developers toward the local community and its desire to maintain a quieter, rural lifestyle.
Pope Leo’s Food Waste Petition and Prayer
Closing Market Report host Todd Gleason reflected on a petition from Pope Leo XIV praying for large producers and small consumers to commit to avoiding food waste while millions suffer from hunger. Gleason connected the pontiff’s message to the ADM Institute for the Prevention of Post-Harvest Loss at the University of Illinois, which seeks to reduce the 20% global waste of grain and oilseed production.
USDA, the United Soybean Board, Women, and SNAP
The Trump administration dismissed four women and one man from the United Soybean Board without providing an explanation, overriding the appeals of state-level soybean boards. Additionally, the USDA published a final rule for the SNAP program that more than doubles the stocking requirements for authorized retailers, forcing them to carry a wider variety of perishable and whole foods to close loopholes previously used to stock snack foods.
Editor’s note: This article was adapted from the week’s WILLAg.org radio broadcast transcripts, formatted for print with the assistance of Google’s generative AI tool, Gemini, and reviewed by Todd Gleason.
Commodity Week can be heard in the 2 o’clock hour central time on WILL AM580 or you may subscribe to it using the links in the player below. This week the panelists include Garrett Toay of AgTraderTalk.com and Mike Zuzolo at GlobalCommResearch.com.
The Closing Market Report airs at 2:06 p.m. central daily on WILL AM580. It, too, is a podcast. Subscribe using the link in the player.