Pres. Trump states that the Iranian/US war will be over soon. Oil prices collapse.

April 17, 2026

Grain futures were firmer in the night session, as demand for corn has been strong, ethanol usage is very profitable for the grind, and the soybean crush is profitable. Crude oil accelerated its losses this morning, dragging the grains in its wake as Pres. Trump is very optimistic that the US/Iranian war will end soon. He claims that Iran has made concessions and is in ongoing negotiations, while Israel and Hezbollah are also discussing a peace accord. This has helped push stock indexes higher again overnight, with the S&P reaching a new all-time high.

The acceleration of the stock market higher, along with the collapse in crude oil prices, is accentuated by news this morning at 7:30 a.m. CT stating that Iran’s foreign minister declared that passage of all commercial vessels through the Strait of Hormuz is completely open for the remainder of the cease-fire.