02/04/26 Grains Drift Aimlessly Lower

02/04/2026 Click Above to Watch the Morning Market Talk Video Grains Drift Aimlessly Lower On the Grains Corn, soybeans and SRW wheat pulled back from Tuesday’s gains during overnight trade, while HRW and HRS wheat remained under pressure. The U.S. dollar index is firmer, as are most metals and energy markets. Kansas reported winter wheat conditions improved one percentage point to 61% good/excellent during January, though that’s still down nine points from last fall. Winter wheat conditions in some other states will be released by USDA later this morning. On the geopolitical front, Russia and Ukraine started another round of U.S.-brokered peace talks in Abu Dhabi. Iran has asked the U.S. to move diplomatic talks originally planned for Turkey to Oman and to limit the agenda to the Islamic Republic’s nuclear program. Tehran is resisting U.S. pressure to include its ballistic-missile program and support for allied militias in the Middle East in the negotiations. On Tuesday, a U.S. jet shot down an Iranian drone after it “aggressively approached” the Abraham Lincoln aircraft carrier in the Arabian Sea. Breakdown Of Proposals For 45Z Clean Fuel Production Credit The Treasury Department and IRS released a notice of proposed rulemaking laying out detailed…