Perspective: Morning Commentary for September 8
September 8 – Geopolitical escalation remains in focus to start the short week, with stock futures pointing to a mixed open and WTI crude oil prices posting a fresh three-month high amid a ramp-up in fighting in both the Middle East and Black Sea. The VIX is up notably from its 2026 low posted on Friday but remains relatively muted as it trades above the 15.4 level. The dollar is quietly lower to start the day, hovering around 98.84 at the time of writing. Treasury yields are also quietly lower to start the day, with the sharpest declines seen at the long-end of the curve; 2-year yields are trading at 4.37%, 10-year yields at 4.77%, and 30-year yields at 5.225%. Nearby WTI pushed to its highest level in exactly three months earlier in the session but has since pulled back to trade near $92.90, up ~1.8% on the day, while nearby Brent pushed to its highest level since July 24th earlier in the session but has pulled back to trade near $97.50 at the time of writing, up only ~0.4%. The ags are widely mixed, with the biggest strength being seen in the wheat complex after weekend talks failed to produce any major results, which we’ll dive into in more depth below.
- Grains & Oilseeds
- Energy
- Dairy
- Renewable Fuels
- Cocoa
- Coffee
- Cotton
- Sugar
- Meats & Livestock
- Forest Products
