Grain Bears are FRUSTRATED - Are "The Funds" Defending their Long Positions?
April 9, 2026
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12:11Now PlayingGrain Bears are FRUSTRATED - Are "The Funds" Defending their Long Positions?
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Markets on edge as the US-Iran ceasefire hangs by a thread π¨
Iran is already alleging violations before talks have formally begun. Peace negotiations are tentatively set for Pakistan this Saturday, but the Strait of Hormuz remains largely closed. Crude cratered 16% to settle near $94 π’οΈ β and Goldman says don't expect the low $80s until the strait fully reopens.
The dollar had its worst day since January, dropping 0.8% as investors fled safe havens π΅π. Markets are now pricing in ~25% odds of a Fed rate cut by year-end.
Wheat got slammed β Chicago May down ~18 cents, KC May off ~12 β hit by falling crude and rain forecasts across the Plains πΎβ. Corn closed lower, beans bucked the trend and finished higher. Watch the western HRW areas β they may miss the forecasted rains.
Super El NiΓ±o on the horizon βοΈπ§οΈ β models show it developing July/August, peaking in November, and lasting into 2027. Generally favorable for the Corn Belt, but watch for planting delays and disease pressure.
USDA WASDE drops at 11am CST today π β expectations are quiet, corn/soy stocks largely unchanged, wheat slightly lower. Post-report breakdown video coming shortly after!
Ethanol production hit a seasonal high at 1.12M bpd, up 5% YoY π½β‘. Margins remain solid across the Corn Belt at 15β40 cents positive.
Lots moving today β stay locked in. π
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