Unfortunately, war rages on into Easter weekend, with grain prices supported by oil.

April 2, 2026

The grain trade response in the overnight action this morning is obvious, with crude oil spot contract over $111/barrel, with corn and soybean oil market sharply higher, along with wheat doing a bit of recovery as weather models for late next week are not as flush with moisture for the dry Western HRW wheat belt. Markets will be closed tomorrow for Good Friday, which is elevating positioning in today’s session.

After the market closed yesterday, February crush and grind figures came out largely in line with what the trade had already priced in, so there was little in the report to materially shift sentiment.