030226 Volatility, War Premiums Spike

03/02/2026 Click Above to Watch the Morning Market Talk Video Volatility, War Premiums Spike On the Grains Soy oil futures shot sharply higher overnight, posting contract highs on the daily charts and reaching the highest level since September 2023 on the continuation chart. Soyoil was supported by surging crude oil prices in reaction to the attacks on Iran and resulting conflict throughout the Middle East. Corn, soybeans and wheat gapped higher at the start of overnight trade, though all three filled those gaps, with buyer interest waning early this morning. Gold futures are higher, while the U.S. dollar index rose to its highest since Jan. 22. The major escalation of tensions in the Middle East raises concerns about global energy security and financial-market stability. The Strait of Hormuz is the world’s most critical oil transit chokepoint, accounting for passage of around one-quarter of global seaborne oil trade and significant volumes of LNG shipments. Maritime authorities say there has been no recognized legal closure of the Strait of Hormuz or formal navigation warning declaring the route off limits. However, tankers have reportedly paused, anchored or delayed entry while operators reassess risk following attacks and heightened military activity in the Persian Gulf….