04/29/2026 Crops Price Inflation Accelerates; Don’t Get Caught Watching

04/29/2026 Click Above to Watch the Morning Market Talk Video Crops Price Inflation Accelerates; Don’t Get Caught Watching Reco Day 1: We want to continue to reward the wheat rally. Set price target for new crop wheat of $7, advancing sales an additional 20% using Chicago wheat as a reference.  *** Futures trading involves risk. The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance is not indicative of future results. On the Grains Wheat continued its recent price surge overnight, with new-crop HRW and HRS futures now solidly above $7. Corn and soy complex futures also strengthened. Closure of the Strait of Hormuz has created a perfect storm for food inflation, driving up commodity prices and choking off fertilizer supplies, while extreme weather is heightening global crop concerns. The Bloomberg Agriculture Spot Index, which tracks 10 of the world’s leading crop products, has climbed to the highest level since November 2023. The World Bank’s latest “Commodity Markets Outlook” report warned the ongoing geopolitical conflict in the Middle East will continue to impact global energy and commodity supply chains, potentially triggering a new round of price surges….