This Corn Market Isn't Acting Like the Last Two Years

For the last two seasons, the corn market followed a familiar script: strong planting pace, ideal weather, and a steady grind lower into summer. Jon Prischmann and Ryan Tungseth explain why 2026 may be setting up very differently—and why treating this year like the last two could be a costly mistake. They break down the key differences already showing up across the western Corn Belt, including expanding dryness, elevated oil prices, and a market that feels far more sensitive to outside forces than it did during the record-yield years. The conversation digs into why a 179 yield would still be historically excellent, why the trade may be underestimating weather risk, and how Middle East tensions and inflation pressures could reshape commodity markets fast. The guys also discuss the growing confusion across grains, why corn still feels like it has untapped upside potential, what's changing in cattle, and why wheat may be more important than most traders realize right now. This is one of those years where flexibility may matter more than conviction.