Markets reacted quickly to the news of the potential end of this war. AgBull Trading President Tommy Grisafi said stock prices rose overnight. “The S & P, NASDAQ were both exploding higher last night and then not only going higher but holding those highs and making new highs,” said Grisafi. “There was a big up move in gold, silver and copper. Crude oil opened down about $3 (per barrel), but traded down $5 barrel. This is about the 20th time we’ve had a deal, but this one feels a little bit more real.” Meanwhile, grain prices were lower in the overnight trade. Grisafi said the funds have pushed prices downward so when crude oil was exploding higher, people were just buying a lot of commodities and with the ability to get fertilizer lower across the world and trade shipping again, grains are selling off.” Grisafi emphasized a deal with Iran is not a deal until it is complete. The agreement is expected to be finalized on Friday, a day when the futures markets are closed for Juneteenth.
