US-Iran Tensions Ease: Soybeans and Grains Fall as Crude Oil Prices Plummet

Soybean and grain futures fell sharply on Monday as investors grew optimistic over the de-escalation of tensions between the United States and Iran.

The pause in attacks led to a significant drop in crude oil prices, with West Texas Intermediate crude oil down nearly eight per cent at US$82.30 per barrel.

The decline had a ripple effect on commodity markets, pushing soybean futures lower as well. Weekly U.S. soybean export inspections were up nine per cent from the previous week, but below what moved the same week a year ago.