05/19/26 Market Fever Lifted for Now

05/19/2026 Click Above to Watch the Morning Market Talk Video Market Fever Lifted for Now On the Grains Wheat markets firmed amid mild follow through buying overnight as USDA noted further deterioration of HRW wheat conditions in the Plains. Corn and soybeans traded narrowly around unchanged overnight. Traders are catching their breath and recalibrating markets after the whip-saw price action late last week and Monday as they digest the outcome of the U.S./China trade talks, while also monitoring weather, crop development, demand prospects and geopolitical events.Crude oil futures weakened overnight after President Trump said he would hold off on a planned U.S. attack on Iran as he continues to seek a peace deal. The U.S. also extended a sanctions waiver allowing countries to purchase Russian oil currently stranded at sea for another 30 days. There continues to be a lot of balls in the air that traders must try to juggle. Speculative money flow will give the “temperature” of traders. For now, the fever has lifted, though it may not have fully broken. Winter Wheat Conditions Second Worst Ever USDA rated 27% of the U.S. winter wheat crop as good/excellent, down one percentage point from the previous week, tying 1996…