Agricultural ETFs Rise Amid Iran Conflict, Crop Conditions

The Invesco DB Agriculture Fund (DBA) has outperformed the S&P 500 by 5% over the past month, as of July 28, 2026. The Teucrium Corn Fund (CORN), meanwhile, has returned over 9.7%, while the Teucrium Wheat Fund (WEAT) has surged about 13%. The Teucrium Soybean Fund (SOYB) has advanced around 6.2%.

The rally in corn prices can be attributed to deteriorating crop conditions, hot and dry weather stress, and export demand. With oil prices rising due to the Iran war, demand for ethanol was higher, leading to increased demand for corn. However, improving weather across the U.S. Corn Belt has pressured corn prices, causing the CORN ETF to slump 2.8% over the past week.

The outlook for corn prices will depend on developments in the U.S.-Iran conflict. A pause in hostilities could weaken ethanol demand and weigh on corn prices, while a further escalation would likely support higher corn prices.