04/22/2026 Late Night TACO Tuesday

04/22/2026 Click Above to Watch the Morning Market Talk Video Late Night TACO Tuesday On the Grains Grain and soy markets traded higher overnight except for HRW wheat contracts, which failed to sustain early buyer interest. Soyoil futures scored contract highs and are nearing the 2023 high on the continuation chart. Soybeans are signaling a potential upside breakout from the five-week sideways range. Corn futures are building on their rebound from the April 10 spike low. On Tuesday, President Trump did something he said he wouldn’t do, indefinitely extending a ceasefire with Iran as peace talks remain on hold, retreating from threats to resume attacks even as the Strait of Hormuz remains all but closed. From a broader market perspective, the crude oil market was choppy overnight, swinging from initial losses to modest gains, as traders monitored the geopolitical news and events in the Strait of Hormuz – at least three cargo ships were hit by gunfire in the strait on Wednesday. U.S. stock futures rose after Trump’s ceasefire extension, which was seen as the latest TACO (Trump Always Chickens Out) event. Markets remain in limbo, but view Trump’s actions as a sign he doesn’t want to return to attacks…