Wheat prices retreat as Iran jitters ease

• Financial market nerves ease, alongside rate of Iran missile lanches
• Oil, the dollar, and gas retreat, as does the Vix ’gauge of fear’
• Wheat prices pressured by US rains, Russia rail rate review
• Funds slash net short in Paris wheat to lowest since June 2024
• Rapeseed retreats, reversing outperformance against canola

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Wheat accelerates rebound amid talk of importer interest

• Crude oil prices revive, after Trump warns Iran to ’behave’
• Commodities overall look for first winning session in a week
• Wheat prices especially strong, as weather jitters linger
• Algeria purchase stokes talk of importer restocking

Daily Markets

Weather concerns shield wheat from oil's slide below $80

• Crude oil prices fall to lowest since early days of Iran war
• Oilseeds dragged lower. Rapeseed falls below €510/t
• However, wheat recovers, amid weather concerns
• US wetness and heatwaves in Europe, eastern Russia in focus

Daily Markets

Grains stage recovery after early dive on Iran-US deal

• 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