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Commodities

US-Iran Conflict Escalates as Corn and Soybean Prices Hit New Highs

Guavy AI Editorial Team
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Corn and soybean prices hit new highs overnight but turned lower afterwards. The steep uptrends in these commodities have been supported by each pullback's limit being the prior day's low. Overnight weakness has typically been bought, but a shift in this trend could signal an interim top.

Fighting between the US and Iran over control of the Strait of Hormuz escalated overnight, with Tehran accusing American forces of bombing a residential area. President Trump downplayed the chances of a peace deal, saying he's 'not trying to force Iran to the bargaining table.'

The USDA reported daily sales of 202,000 MT of soybeans for delivery to China during the 2026-27 marketing year.

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