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Commodities

Crude Oil Surge Drives Up Soybean Futures Amid US-Iran Tensions

Guavy AI Editorial Team
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Soybean futures at the Chicago Board of Trade rose sharply on Tuesday due to a surge in crude oil prices and a recent announcement from the United States Environmental Protection Agency (EPA).

The US launched more strikes against Iran, which doubled the gains in crude oil. The EPA granted 18 small refinery exemptions for 2025, with 11 refineries receiving partial exemptions.

Soybean ratings saw a slight dip to 58% good to excellent, according to the U.S. Department of Agriculture's crop progress report. Meanwhile, soybeans dropping leaves rose seven points to 13%, and soybeans setting pods increased four points to 95%.

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