Wheat Falls 3%, Corn Declines After US-Iran Ceasefire

By News Desk on April 8, 2026

US-Iran Ceasefire Sends Wheat to Two-Week Low, Corn Prices Fall

Singapore: Wheat and corn prices declined in global markets today following the announcement of a two-week ceasefire between the United States and Iran.

Wheat futures on the Chicago Board of Trade fell by 2.8 percent to $5.81 per bushel, marking their lowest level in two weeks, while corn prices dropped by 1.1 percent. Soybean prices also edged lower by 0.2 percent.

The decline comes amid easing geopolitical tensions after the ceasefire announcement, which also contributed to a drop in oil prices below $100 per barrel.

Market analysts attributed additional pressure on wheat prices to improved weather conditions in the United States and expectations of higher production in Russia.

Dennis Woznisinski, an analyst at Commonwealth Bank, said that geopolitical developments and weather factors had driven recent price movements, noting that the latest decline followed the ceasefire announcement.

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