The biggest drive of the CBOT’s Tuesday trade had little to do with grain markets themselves and, rather, was primarily focused on risk and positioning dynamics following the apparent Israel-Iran ceasefire agreement. While both sides have apparently agreed to some sort of ceasefire deal, as of mid-afternoon neither side had actually stopped firing missiles. This prompted a response from President Trump who said he’s “not happy”, which is the presidential equivalent of a dad on a road trip threatening to “turn this car around”. In this case, though, the “car” is a B-52 bomber.  Markets were generally happy with this threat as it indicates perhaps tensions will finally cool. That allowed cr...