02/02/26 Grains Weaker Amid Broad Commodities Selloff

02/02/2026 Click Above to Watch the Morning Market Talk Video Grains Weaker Amid Broad Commodities Selloff On the Grains Corn, soybeans and wheat extended their losses from late last week during the overnight session as part of the broader selloff in the commodity sector. While gold and silver futures have rebounded from their earlier lows, energy markets remain under heavy pressure. Meanwhile, global stocks faced heavy pressure overnight, while the U.S. dollar index firmed. Market volatility is heightened to open the week and the new month. Iran Tensions Ease Iran said talks with the U.S. over a new nuclear deal could get underway in coming days, building on a flurry of diplomatic activity aimed at averting war between the two sides. Iranian President Masoud Pezeshkian ordered the start of negotiations with Washington “within the framework of the nuclear issue,” Iran’s semi-official Fars news service reported. Iranian Foreign Minister Abbas Araghchi said on state TV, “We’re ready for diplomacy, but they must understand that diplomacy is not compatible with threats, intimidation or pressure. We will remain steadfast on this path and hope to see its results soon.” Brazil Focus Turns to Dry Southern Areas Brazil’s soybean harvest reached 10% as of Jan. 29,…