Grain Futures Are Looking to Crude Oil for Price Direction. What Comes Next?

In overnight trading on Sunday evening and early Monday morning, the corn (ZCK26) and wheat (ZWK26) (KEK26) futures markets were posting decent gains, and so were Brent (CBK26) and West Texas Intermediate (WTI) (CLK26) crude oil futures. Then, around 7:00 a.m. Eastern, President Donald Trump posted on his social media account that the U.S. and Iran had productive talks, and the U.S. was halting its military strikes on Iran’s power grid for five days. All hell broke loose in the marketplace, led by WTI cr ...