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Soybean futures for July delivery fell 2.2% to $11.28 3/4 a bushel on the Chicago Board of Trade after new tariffs under Section 301 raised fears of reduced Chinese purchases of U.S. soybeans. Corn fell 1.8% and wheat fell 0.9%.
Crude oil also dropped nearly 3% on hopes for an Israel-Lebanon ceasefire that could lead to talks with Iran over reopening the Strait of Hormuz.
Fears that China will cut purchases of U.S. soybeans weigh on export demand and pressure U.S. soybean and soymeal prices. Lower crude oil also reduces the energy-linked support for vegetable oils and grains.
marketscreener.comDow JonesJun 4, 2026After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
July soybeans fell 2.2% on June 4 on fears of reduced Chinese purchases after new Section 301 tariffs, and crude fell on Hormuz hopes, hitting demand and soyoil.
