04/06/26 Trump Deadline, Key Crop Reports & Economic Data Coming

04/06/2026 Trump Deadline, Key Crop Reports & Economic Data Coming Morning Market Talk There will not be a Morning Market Talk video this morning. On the Grains Markets traded both sides of unchanged overnight, with corn and wheat favoring the downside early this morning while soy markets are slightly firmer. Crude oil futures showed initial price strength overnight but have weakened this morning while still reflecting elevated war premium as President Trump on Sunday issued a threat to destroy Iran’s power plants and blow up “everything over there,” before announcing what appeared to be a new Tuesday 8 p.m. deadline to open the Strait of Hormuz. Aside from geopolitical happenings, grain traders will get USDA’s initial winter wheat crop ratings of the spring this afternoon. Based on state level updates throughout winter, the good/excellent rating will fall from the 48% level reported both last fall and early April 2025. Weekly crop progress/conditions and the start of spring planting will put a greater focus on weather, especially with dryness/drought encompassing much of the U.S. crop area. The U.S. Drought Monitor showed 80% of the country faced moisture deficits at the end of March, with varied levels of drought over 44% of…