The grain trade slips below Friday's lows but holds amid ongoing outside market influences.

February 2, 2026

The grain trade pushed lower on Friday with the chaos and concern that the new potential Federal Reserve chair, Kevin Warsh, may be a fiscal hawk, unfounded for now, but it’s the momentum that goes with it. This selling continued overnight as the metals, crude oil, and index funds pushed lower as Pres. Trump also backed away from his threat against Iran. The US dollar bounced Friday off of critical support and pushed back above 97.00, where it maintains strength this morning.

Despite overnight action in the grain trade, losses are fairly light when compared to Friday’s lows and the sharp declines that are maintained in the energy complex this morning. Whether moderating in the US also put downward pressure on energy and natural gas pricing. The question is, will farmers move grain this week with the improving weather?

The US government entered a partial shutdown on Saturday after the Senate passed a spending bill on Friday. The House is expected to take up and pass this bill this week, keeping the partial-closure impact on trade limited.