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World corn prices hit nine-month lows on June 15 after the U.S. and Iran reached an initial deal to end their war and reopen the Strait of Hormuz. Wheat and soybeans also fell as crude oil dropped sharply, and traders said markets would stay cautious until the deal was signed.
Lower crude oil reduces biofuel-linked demand support for grains and oilseeds, pushing feed grain prices down. Lower energy costs also ease fertilizer and freight pressure over time.
esmmagazine.comReutersJun 16, 2026After 87 past bearish geopolitics events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +2.1%), and +0.3% over 20.
After 80 past bearish geopolitics events, Wheat (SRW) moved a median -0.4% over 5 sessions (44% higher; middle half -1.4% to +1.9%), and -0.5% over 20.
After 53 past bearish geopolitics events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -1.9% to +1.2%), and +1.0% over 20.
After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% 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.
