Grain futures fluctuate, as crude oil prices take a breather.

Grain futures at the Chicago Mercantile Exchange fluctuated, following a previous drop in oil prices. The trend of grains continues to be largely guided by news surrounding the Iran conflict and the Strait of Hormuz. The United States is now allowing some countries to purchase sanctioned Russian crude oil that is already in transit by sea. Defense Secretary Pete Hegseth earlier stated that there is no clear evidence that Iran has laid mines in the strait. However, the grain and energy commodities markets are still vulnerable to the impact of any latest news from this war. The most actively traded corn futures fell by 0.3%, soybean futures fell by 0.8%, while wheat futures rose by 0.4%.