Grain Futures Fall as Iran Deadline Looms and Crop Condition Index Declines

Corn, soybeans, and wheat have all fallen in overnight trade, giving up most of their gains from yesterday. The downtrend remains intact on daily bar charts, and a lower close today would solidify the bears' advantage.

The USDA reported daily sales of 132,000 MT of soybeans for delivery to China during the 2026-27 marketing year. Meanwhile, President Trump is pushing Iran to reach a deal with Oman on the Strait of Hormuz by today or face devastating air strikes.

USDA's crop condition index (CCI) saw a decline in corn and soybean ratings, while wheat rose slightly. Analysts surveyed by Reuters had expected no change in corn and soybean ratings, but the actual numbers showed a 3.72-point decline to 360.67 for corn and a 0.77-point drop to 364.32 for soybeans.