04/01/2026 No Fooling: Geopolitics Continue to Supersede Fundamentals

04/01/2026 Click Above to Watch the Morning Market Talk Video No Fooling: Geopolitics Continue to Supersede Fundamentals On the Grains Wheat futures led a round of selling in the grain markets overnight. Wheat and corn more than erased Tuesday’s gains, while soybeans gave back about half of what they gained yesterday. Soy oil also retreated overnight, while soy meal traded higher. Much of traders’ focus remains on geopolitics and crude oil, which is under pressure, with WTI futures dipping below $100 overnight as President Trump said the war with Iran could end within a couple weeks. Trump will address the nation on the war situation at 8 p.m. CT. Markets will pay close attention as Trump is expected to outline his administration’s strategic objectives, including whether the U.S. will pursue a negotiated end to hostilities, maintain military pressure or shift toward a containment posture. Breakdown of USDA’s Reports: Markets Fail to Hold Fundamental Focus Following are results for USDA’s Prospective Plantings and Quarterly Grain Stocks Report from Tuesday. Key Highlights: Traders reacted to Prospective Plantings more than Quarterly Grain Stocks, as the misses for March 1 stocks were minor for corn and average for soybeans compared to previous years. Implied…