03/23/2026 Click Above to Watch the Morning Market Talk Video Markets Whipsaw; Tenor Abruptly Changes with Trump Post On the Grains Grain and soy futures, along with crude oil futures, were stronger overnight, with traders striking a risk-off posture. President Trump issued a blunt ultimatum to Iran on Truth Social: fully reopen the Strait of Hormuz within 48 hours (7:44 p.m. ET), or the United States would “hit and obliterate” Iranian power plants — starting with the largest. Tehran answered by threatening to seal the strait completely if any energy facilities were struck. Iran said it also will attack Israel’s power plants and those supplying U.S. bases across the Gulf region, along with water assets in the Middle East, if Trump carries out his threat. But shortly after 6 a.m. CT, a Truth Social post from President Trump completely changed the tenor for markets. Grain and soy markets, along with crude oil futures immediately fell, while U.S. stock futures and Treasuries took on a risk-on stance. Bottom line: Markets are trading headline-to-headline — with oil, inflation expectations and geopolitical signals overriding traditional fundamentals in setting near-term direction. On the Cattle: Last Friday’s Cattle on Feed Report leaned bearish as February placements topped year-ago…
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