As optimism over the end of the war grows, grain prices fall.
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Chicago Board of Trade grain prices declined after Iran's national broadcaster reported having seen a draft framework for ongoing negotiations with the United States, which includes a provision to restore commercial shipping to pre-war levels within a month. However, the agreement has not yet been finalized. Crude oil prices also fell, with light crude dropping by 4.5%. The most actively traded corn contract on the Chicago Board of Trade dropped 0.9% in early trading, soybeans fell 0.4%, and wheat declined 1.9%. Doug Bergman of RCM Alternatives stated in a report that if the weakness in futures persists, various grains will be on the verge of entering a "downtrend."
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