Wheat prices fall for fourth consecutive session as market reacts to US-Iran talks
26.05.2026 - 14:20
The prospect of unblocking the Strait of Hormuz and restoring fuel and fertilizer supplies has dragged grain prices down.
Wheat futures on the Chicago Board of Trade (CBOT) are heading for their longest losing streak since January, Bloomberg reported.
On May 26, the most active contracts fell another 1.6% for the fourth session in a row. Soybean and corn prices fell along with wheat.
The exchange was closed on Monday for Memorial Day in the US, in honor of military personnel who died in wars. Therefore, Tuesday’s trading was the first reaction of traders to growing optimism about the end of the three-month Middle East conflict.
Meanwhile, US President Donald Trump said that negotiations with Iran on extending the ceasefire and opening the Strait of Hormuz were “going well”.
Unblocking the strait would mean the restoration of fuel and fertilizer supplies for farmers, potentially boosting global grain production and putting additional pressure on prices.
However, the decline was limited. Joe Davis, director of commodity markets at brokerage Futures International, attributed this to a resumption of oil price growth after reports of new US strikes on Iran.
Recall that US forces attacked Iranian boats that were trying to lay mines in the Strait of Hormuz.
