US Grain Markets Range-Bound as Iran-Oman Shipping Talks Progress

Grain markets in the US were mostly range-bound overnight, with volatility easing. A slightly weaker US dollar and flat oil prices may lead to a continuation of range-bound trade today.

The USDA reported 238,000 MT of soybeans for delivery to China in the 2026/27 marketing year. Additionally, 286,097 metric tons of corn were reported for delivery to Mexico, with 29,808 metric tons due during the 2026/2027 marketing year and 256,289 metric tons due during the 2027/2028 marketing year.

President Trump mentioned that negotiations between Iran and Oman over shipping in the Strait of Hormuz are 'moving along,' despite some Iranian lawmakers seeking to bar American and Israeli ships from the waterway. A draft bill under review by Iran's parliament includes a demand for compensation from 'hostile countries' and a proposed ban on cargo related to Israel.