Soybean Futures Slide on Volatile World Affairs - Daily Grain Highlights

By Kirk Maltais

--Soybeans for November delivery fell 3.4%, at $12.11 1/2 a bushel, on the Chicago Board of Trade on Monday, with risk premium being pared as fighting in the U.S.-Iran conflict is temporarily paused.

--Wheat for September delivery fell 3%, to $6.58 a bushel.

--Corn for December delivery fell 2.9%, to $4.73 1/4 a bushel.

HIGHLIGHTS

Chain Reaction: Risk premium fled crude oil futures Monday, with Brent crude down 9% in reaction to a pause in fighting in the U.S.-Iran conflict. Lower oil is translating to lower grains, analysts said. "Grains are getting hit from all sides--and the oil collapse is doing the heavy lifting," said Phil Flynn of Price Futures Group. Vessels having an easier time traversing major shipping channels look to deflate grain futures further. "The pullback in attacks is giving ships the confidence to move again," said Flynn. "That means more grain is actually reaching the water and the world."

Mixed Bag: The U.S. Corn Belt is expected to see above-average heat through the next two weeks, according to the latest forecast from the NOAA's Climate Prediction Center. While the heat means crop stress is likely for much of the country, rainfall is also expected to be mostly "near-normal" and may ease that heat-related burden. The presence of rain seems to be pressuring CBOT grain futures Monday afternoon. "Rinse and repeat is a common theme when it comes to weather stories and weather fear, and it appears that once again the hype is much more grander than the reality," said Gary Sandlund of Futures International in a note.

INSIGHT

Set Aside: The USDA started the week with a new flash sales announcement of soybeans going to China, this time with 132,000 metric tons of soybeans being sold for delivery in the 2026/27 marketing year. An additional 126,000 tons of soybeans were also sold for delivery in 2026/27 to unknown destinations, which often is another moniker for China, although not necessarily the case. It is a positive sign for soybean prices, although not one that traders paid much attention to Monday.

Pumping the Brakes: Export inspections of U.S. corn fell from the prior week, according to data from the USDA. In its latest report Monday, corn-export inspections totaled 1.49 million metric tons for the week ended July 23. That is down from this time the previous week, as well as this time last year, according to USDA data. Soybean-export inspections were 348,850 tons for the week, up from 319,022 tons at the same time last week but lower than this time last year. Wheat inspections for this week were 394,875 tons, up from 229,761 tons last week and higher than 290,272 tons seen at this time last year.

AHEAD

--Mondelez International will report its second quarter 2026 earnings report at 4:05 p.m. ET Tuesday.

--The EIA will release its Weekly Petroleum Status Update report at 10:30 a.m. ET Wednesday.

--Pilgrim's Pride will release its second quarter 2026 earnings report after the stock market closes Wednesday.

Write to Kirk Maltais at kirk.maltais@wsj.com

(END) Dow Jones Newswires

July 27, 2026 15:06 ET (19:06 GMT)