Israel/Iran conflict ramps up overnight

Report on CNBC claims both sides are trying to step back the escalation.

Overnight- Grains and oilseeds moved higher on Israel bombing of Iran.

The escalation in the conflict going into the weekend will put a little more volatility into the market going into the weekend.

This VIX index spiked to 21 overnight. This is the “fear” index that measures the future volatility of the S&P 500.

Weather may slow planting progress in the next week.

The longer-term forecasts for this summer are looking warmer than normal with parts of the WCB forecasted for lower than normal rainfall.

Bottomline

The markets will be watching for any more developments in the Israel-Iran conflict, but we would guess that traders will not want to go into the week overly short. Keep an eye on local basis. NFC Grain Comments Options -new (41)