• Iran-US ceasefire deal sends Brent crude to three-month low • Grains initially pulled lower too, to multi-month lows • However, signs of technical support help foster recovery • Funds have already sold down grains at record pace
• Brent crude gains on signs of reviving Iran-US tensions • Adds to support for grains from pre-Wasde positioning • Japan declares El Nino has begun • Wheat prices rise on both sides of the Atlantic
• US winter wheat crop rating deteriorates to record low • US corn, soybean crop rating short of expectations too • Europe faces return of hot weather, with mixed crop impacts • Wheat prices rise in Chicago, London and Paris