Corn and soybeans fall on U.S. weather, pause in U.S.-Iran Strikes

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Or sign-in if you have an account.Temperatures in the western Corn Belt were expected to near or hit 100F (38C) Monday, while scattered showers and thunderstorms in the eastern Corn Belt were expected to offset the heat. Photo by Dado Galdieri/BloombergCorn and soybean futures slumped the most in months, following a sharp drop in crude oil after the United States paused nearly two weeks of daily strikes against Iran.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountCorn prices fell as much as 3.3 per cent, the most intraday since mid-January. Soybean prices dropped by as much as 3.4 per cent in the biggest intraday decline since mid-May, while soyoil prices also slipped. All are key feedstocks for biofuels, which gain appeal when crude prices are high.“Grain futures are sharply lower on the easing of U.S.-Iran war tensions with crude oil futures falling to sizeable losses to start the week,” AgResource Co. said in a note.Prices also moved lower amid improving weather forecasts for U.S. corn and soybean growing areas heading into August, a key development month for the crops.“Extended weather models continue to trend better for Midwest crops,” StoneX chief commodities economist Arlan Suderman said in a note. That, he said, is “reducing fears regarding the health of this year’s corn and soybean crops, despite blistering heat developing in the Plains and western Midwest over this past weekend.”Temperatures in the western Corn Belt were expected to near or hit 100F (38C) Monday, while scattered showers and thunderstorms in the eastern Corn Belt were expected to offset the heat, according to a daily weather bulletin from the U.S. Department of Agriculture. Bottles of soybean oil at a crushing factory in Harbin, Heilongjiang province, China, on Monday, Oct. 27, 2025. Photo by Andrea Verdelli/Bloomberg“For the remainder of the week, any heat that has crept into the western Corn Belt will be pushed out, leaving Midwestern temperatures favourable,” the agency said in its bulletin.Elsewhere, the USDA on Monday reported sales of 132,000 tons of soybeans to China for the 2026-27 marketing year, the latest in a string of such sales reported this month. The sales follow a May summit between U.S. President Donald Trump and his Chinese counterpart, Xi Jinping. The White House said China committed to buying at least US$17 billion of agricultural products prorated through the end of the year, in addition to at least 25 million tons of soybeans annually through 2028.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.