Tentative US-Iran Peace Deal Reached!

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.🌍 Geopolitics 🤝 The U.S. and Iran reached a tentative deal to end the war. The agreement includes releasing $25B in assets and lifting oil sanctions, while Iran commits to no nuclear weapons. 🚢 Iran will reopen the Strait of Hormuz within 30 days, and the U.S. will lift its naval blockade. More details are expected in follow-up talks, with the deal set to be signed Friday.🌽 Grain Markets 🟡 Soybeans slipped (Nov ’26: $11.32, -2¢) under pressure from good weather and weaker crude. 🌽 Corn rebounded late (Dec ’26: ~$4.40, +1¢) but still faces headwinds from energy markets, favorable weather, and big South American crop expectations. 🌾 Wheat also moved lower on ample global supplies.🌦️ Weather ⛈️ Severe storms swept the Corn Belt over the weekend, bringing heavy rain, damaging winds, and tornadoes. Some areas saw flooding. 🌡️ Temps stay above normal this week (not extreme), with more scattered rain ahead—heaviest in central and eastern areas. Overall tone remains bearish for grains.📊 Funds (CFTC) 🐻 Funds turned net short corn (sold 121k contracts), the largest sell-off since May ’25. 🌱 Soybean longs shrank (sold 58k), now the smallest since February. 🌾 Wheat also saw selling (23k contracts).🥩 Cattle 🏭 JBS is closing plants in Pennsylvania and Memphis, shifting cattle elsewhere. 🐄 With the herd at a 75-year low, tight supplies are driving record cattle prices and heavy packer losses. ⚖️ Short term: too much capacity vs. cattle. Long term: less capacity is negative for the industry.