West Central Ag Grain Comments 04/08/26 8:17:26 AM
4/8/26
- Good morning. CBOT ag markets are mixed/mostly lower to start mid-week trade this morning, with the bean oil and wheat markets seeing a risk-off reaction to the overnight Iran news, while the corn and beans also had negative reactions early but are well off their lows already at this writing this morning. The two-week ceasefire has announcement has produced the expected market reaction, but the question now becomes does it last? Corn futures to start Wednesday are trading 5-6 cents lower, soybean futures are trading 1-2 cents lower, and the Chicago wheat market is trading 17-19 cents lower. Soybean oil is down around 2.50 cents/lb and over a penny off the lows.
- Commodity markets have seen elevated volatility again overnight, with most reacting expectedly to a late-afternoon announcement by President Trump that the bombing attack on Iran would be suspended for two weeks amid progress in negotiations. Trump said Iran had presented a 10-point proposal that he believes could be the basis for a working agreement, and added that most all of the various points of past contention have been mostly worked through.
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On the news, energy markets are sharply lower - crude oil is down some $18.00/bbl (16-17%), RBOB is down 30+ points (10+%) and natural gas is down 4-5%. Metals markets are sharply higher, stock index futures are sharply higher, and the dollar index is sharpy lower
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